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Warranty Deed Statutory Short Form Bradford Publishing
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People also ask
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What are the disadvantages of a warranty deed?
Cons: Fewer protections for buyers, who are now responsible for addressing any previous liens or claims for the property. Lenders and title companies may refuse to help buyers secure financing or title insurance for a property sold under special warranty.
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What type of warranty deed is best?
The majority of transactions call for general warranty deeds because the buyer will want assurances that he or she is getting good and proper title to the property. To do this, the buyer will normally obtain a full title search and title insurance.
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Does a statutory warranty deed prove ownership?
No, the warranty deed alone does not prove ownership. Ownership is confirmed once the deed is recorded with the county recorder's office, making it part of the public record.
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Is a statutory warranty deed good?
The statutory warranty deed typically guarantees that the property has a clear title during the time the seller owned it. It also warrants against title defects or claims that arose during the period in which the seller held title to the property.
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What is a statutory form warranty deed?
A statutory warranty deed is a short-form deed that includes the promises of a long-form general warranty deed. It guarantees the grantor holds and is transferring full and legal title to the property. Using either a statutory or general warranty deed provides the most protection to the buyer of the property.
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Can I fill out my own warranty deed?
Using a general warranty deed You may be able to obtain the form by searching your state's statutes or state website. You also can use an online services provider, if you want assistance in creating a general warranty deed. Once you obtain the correct form, you must fill it in completely.
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Which deed is the strongest?
What Is the Strongest Type of Deed? For real estate buyers, a general warranty deed provides greater protection than any other type of deed. While it's the best deed for the grantee, it gives the grantor the most liability.
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What deed gives the most protection?
General Warranty Deeds: A General Warranty Deed, also known as a 'full warranty deed,' offers the highest level of buyer protection. It guarantees that the property is free from any liens or encumbrances, regardless of when they originated.
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