A general warranty deed is a legal instrument which vouches for the ownership of a piece of real estate by someone. It goes beyond to give the holder the leeway to sell the property to a third party and outlasts the time the grantor owned the stated piece of property.
Other types of deeds
Quit Claim Deed – Quit Claim Deed is a type of a legal document which is employed while transferring the interest in a piece of property. The party that transfers the piece of property is called a grantor while the one who receives the said piece is referred to as a grantee.
Special Warranty Deed – This is a type of deed which the seller of a piece of property uses to take care of any issues or damages that might arise in the course of the physical ownership of that said piece. It absolves the seller from any issue that arose prior to the assumption of the ownership of that property.
Type of warranties a “general warranty deed” covers?
On the whole, the general warranty deed covers the following area:
- Covenant of right to convey – the right of the grantor to convey the property i.e. hold it in trust prior to the transfer to another party.
- Covenant of seizing – That the grantor rather than the grantee is the one who actually owns the stated piece of property. It dispels any possible conflicts of interest in the future.
- Covenant against encumbrances – Promises that no other encumbrances than those already spelled out exist against that property that is held in trust.
- Covenant of quiet enjoyment – This covenant assures the tenant or grantee utmost peace while enjoying the property it holds in trust. In particular, it safeguards against the hostile claimants who might ruin the peace.
- Covenant of warranty – Guarantees that the grantor will safeguard the grantee in the event that another party lays claim to the property which is in custody. This guarantee is assured even if the said claimant has a superior title.
- Covenant of further assurances – Lastly, the covenant of further assurances exists to ensure the grantee that the grantor shall put every measure in place to remedy any issues which might stem from the grantee’s property title.
Free General Warranty Deed Forms
Frequently Asked Questions (FAQs)
When do you use a warranty deed?
A warranty deed comes in when a property owner may wish to transfer his claim of ownership to a third party on a temporary basis. The deed also safeguards the grantee from any claims of ownership by third parties throughout the time of lease or occupancy.
Who issues a warranty deed?
A warranty deed is generally issued by a state office in charge of issuance of land titles and other statutory documents. The exact state office may vary from state to state. Some may require an attorney to draft; others still may give you the leeway to do so on your way.
How do I get a general warranty deed?
You will obtain these deeds from the county recorder’s office of that county wherein your property is located. To obtain your copy, you will either have to download it or pay a physical visit to the premise concerned and request a copy of your own. Many jurisdictions do charge some fees for these services.
Is a warranty deed proof of ownership?
Yes and no. To the grantor, it indeed proves ownership of the said piece of property. To the grantee, however, it only showcases that he is eligible to occupy and make use of the said piece for the stated duration of time, nothing more.