What is a Warrenty Deed Form

What is a special warranty deed?

A special warranty deed is a legal document used in real estate transactions to transfer property ownership. Unlike a general warranty deed, which offers broad protections to the buyer, a special warranty deed limits the seller's liability to claims that arose only during their period of ownership. This means the seller guarantees that they have not encumbered the property during their ownership but does not assure the buyer against any claims that may have existed prior to their ownership.

Key elements of a special warranty deed

A special warranty deed typically includes several key elements:

• Grantor and Grantee: The document identifies the seller (grantor) and the buyer (grantee).
• Legal Description: It provides a detailed description of the property being transferred.
• Consideration: The deed states the amount paid for the property, which is often referred to as consideration.
• Limitations on Warranty: It specifies that the warranty is limited to the period of the grantor's ownership.
• Signatures: The grantor must sign the deed, and it may require notarization to be legally binding.

Steps to complete the special warranty deed

Completing a special warranty deed involves several steps:

1. Gather Information: Collect necessary details about the property, including the legal description and the names of the parties involved.
2. Draft the Deed: Use a template or consult a legal professional to draft the deed, ensuring all required elements are included.
3. Review: Carefully review the document for accuracy and completeness.
4. Sign and Notarize: The grantor must sign the deed in the presence of a notary public, if required by state law.
5. File the Deed: Submit the completed deed to the appropriate county office for recording.

Legal use of a special warranty deed

The legal use of a special warranty deed is primarily in property transactions where the seller wishes to limit their liability regarding past claims on the property. This type of deed is commonly used in commercial real estate transactions or when the seller is not the original owner of the property. It ensures that the buyer receives a clear title for the duration of the seller's ownership but does not protect against issues that arose before that time.

State-specific rules for special warranty deeds

Each state has its own regulations governing the use of special warranty deeds. In North Dakota, for example, the deed must be executed in compliance with state laws, which may include specific requirements for notarization and recording. It is important to consult local statutes or a legal professional to ensure compliance with all state-specific rules when preparing a special warranty deed.

How to obtain a special warranty deed

Obtaining a special warranty deed can be done through several methods:

• Legal Professionals: Hire a real estate attorney to draft the deed according to your specific needs.
• Online Templates: Use reputable online services that provide templates for special warranty deeds.
• County Clerk's Office: Visit your local county clerk's office for official forms and guidance on completing the deed.