What is a Special Warranty Deed?
A deed to which the Grantor (Trustee) warrants, or guarantees the title only against defects arising during the period of his or her tenure and ownership of the property and not against defects existing before that time. We also now provide you a document clearly identifying which trustee was given the right to buy and has limited authority to see this lot as well.
A deed in which the Seller makes the same guarantees made in a General Warranty Deed, but the guarantees do not extend past when the Seller received ownership of the property. Therefore, any violation of the guarantees that occurred before the Seller purchased the real estate cannot be recovered on by the Buyer.
A. A deed in which the grantor conveys title to the grantee and agrees to protect the grantee against title defects or claims asserted by the grantor and those persons whose right to assert a claim against the title arose during the period the grantor held title to the property. In a special warranty deed the grantor guarantees to the grantee that he has done nothing during the time he held title to the property which has, or which might in the future, impair the grantee’s title.
When it comes to purchasing property, especially property that has pre-existing structures included, there are a number of different types of deeds that may be tendered. A deed is primarily intended to legally confer ownership, but there are some types of deeds that go a step further. One of the types of deeds that may be offered is a special warranty deed. Here is some information about the nature of a special warranty deed, what the deed addresses, and why this type of warranty may be in the best interests of both the buyer and the seller. When you choose to buy a piece of property that includes a structure of some sort, there is the expectation that the structure is sound working order, unless specifically noted as part of the sale. In short, there are implied warranties on the quality of the property. As an example, when one buys a city lot with a house included, the expectation is that the structure, the wiring, plumbing, roof, and foundation are all in good condition, unless the
Related Questions
- The Water Rights that I receive by Special Warranty Deed says I can pump 0.47 acre feet annually. How much water is that and is that enough for my families needs?
- Im confused by all the different kinds of deeds -- quitclaim deed, grant deed, warranty deed. Does it matter which kind of deed I use?
- What is a Special Warranty Deed?
