A warranty deed is mandatory for the sale of a real estate property or any significant asset sale where the transfer of ownership is involved. A Warranty Deed Form Template ensures that the seller is entitled to sell the property or the asset and he will be responsible for any legal issues that may arise against the ownership of the property after the sale of the asset. There are different types of warranty deeds to protect a buyer, and they are provided below.
General Warranty Deed Sample
It is a general warranty deed that is applicable for any product bought or sold that involves transferring the ownership. It is a 2-page legal document, and it gives the buyer the full ownership without any terms and conditions. It also proves the monetary transaction that took place between the purchaser and the seller.
Warranty Deed Statutory Form
This is a 1-page warranty deed statutory form which states that the seller holds the complete right to sell the property to the buyer and he is going to be responsible for any legal cases that may arise from any other party on the property.
Sample Warranty Deed Form
This is a complete warranty deed form which has all the provisions that protect both the grantor and the grantee. It is mandatory for the sale of real estate properties, and it makes sure that the buyer is free from handling any legal issues that may arise from the property.
Special Warranty Deed Sample
A special warranty deed is applicable where a real estate property is sold. It ensures that the seller takes all the responsibilities for any defects or damages to the property sold and either repair or pay compensation to the buyer.
Limited Warranty Deed
A limited warranty deed mentions that the seller would be responsible for dealing with all the legal cases that may have arisen during its ownership. In other words, the seller will not be responsible for any legal matters arising from the property after the sale of the real estate property is done.
Sample Warranty Deed
Sample Blank Warranty Deed
Tenancy Warranty Deed Sample
A warranty deed is mandatory before a deal of property sale can go through. It proves that the seller is truly the rightful owner of the property and he has all the rights to sell the property. Such deeds also mention the monetary transaction details. Special warranty deeds protect the buyers from bearing expenses on any damages in the property. It ensures that the seller will be responsible for repairing any damages to the property or pay enough compensation. It protects the buyer from any legal cases of the past or in future related to the ownership of the property.You can also see Deed of Trust Forms.
The targeted audiences for a warranty deed are both the buyer and the seller of the property. It makes the whole transaction transparent. It protects the buyer from any legal cases that may have arisen in the past or may occur in the future about the ownership of the property. It also ensures that the buyer gets the property in a healthy condition and not in a damaged state. It helps the seller to attract more customers with special warranty deed and general warranty deed.
All the different types of warranty Deed of Release Form listed above are aimed at protecting the buyer or the grantee against any legal case that may arise due to ownership of the property. Only the seller would be responsible for all the legal matters that may occur for his ownership or any ownership in the past. It makes sure that the buyer is buying the property from the right seller and without any hazards or conflicts.
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