What is a warranty deed?
Warranty deed is a deed that is signed by the person who is selling a piece of real estate to another person declaring that the piece of real estate that is being sold by him or her is in his or her name. This deed protects the buyer from any disputes that may arise in future due to the title defects that extend back to the origin of the property and the selling rights of the property.
Types of warranty deeds
There six forms of covenants or titles that are included in the warranty deed. These forms have been grouped into two:
This deed is though signed to protect you from any disputes that may arise due to the title issues in future after you buy the real estate property but to be on the safer side you must make a thorough background check before buying a property. The diligence on the part of the buyer will save the buyer from any problems in the future.
The drawback of the warranty deed
The warranty deed is not without flaw. If the seller of the property dies or goes bankrupt then the buyer is not left with any option as the warranty becomes void. Therefore it is advisable that the buyer also buys a title insurance to safeguard himself against any defects of title.
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THIS DEED, made this day of , 20 between
the grantor, and
the grantee, whose address is
WITNESSETH, that the grantor, for and in consideration of the sum of
DOLLARS ($ ), the receipt and sufficiency of which is hereby acknowledged and received, and for other good and valuable consideration, has granted bargained, sold and conveyed, and by these presents does grant, bargain sell, convey and confirm unto the grantee, their heirs and assigns forever, all the real property, together with improvements, if any, situate and being in the County of , State of , described as follows:
Also known as street and number
TOGETHER with all and singular hereditaments and appurtenances thereunto belonging, or in anywise appertaining and the reversion and reversions, remainder and remainders, rents, issues, and profits thereof, and all the estate, right, title, interest, claim and demand whatsoever of the said grantor, either in law or equity, of, in and to the above bargained premises, with the hereditaments and appurtenances.
TO HAVE AND TO HOLD the said premises above bargained and described, with the appurtenances, unto the said grantee, their heirs and assigns forever. And the said grantor, for himself, his heirs, and personal representatives, does covenant, grant bargain and agree to and with the grantee, their heirs and assigns, that at the time of the ensealing and delivery of these presents, is well seized of the premises above conveyed, has good, sure, perfect, absolute indefeasible estate if inheritance, in law, in fee simple, and has good right, full power and lawful authority to grant, bargain, sell and convey the same in manner and form aforesaid, and that the same are free and clear from all former and other grants, bargains, sales, liens, taxes, assessments, encumbrances and restrictions of any kind or nature whatsoever, except any easements, restrictions, covenants, zoning ordinances and rights-of-way of record and property taxes accruing subsequent to , a lien not yet due and payable.
The grantor shall and will WARRANT AND FOREVER DEFEND the above-bargained premises in the quiet and peaceable possession of the grantee, his heirs, and assigns, against all and every person or persons lawfully claiming the whole or any part thereof. The singular shall include the plural, the plural shall include the singular, and the use of any gender shall be applicable to all genders.
IN WITNESS WHEREOF, the grantor has executed this deed on the date set forth above.
STATE OF )
COUNTY OF ) ss:
On ___________, 20 ___ , before me, _________________, a notary public in and for said state personally appeared _____________________________, personally known to me (or proved to me based upon satisfactory evidence) to be the person(s) whose name(s) are subscribed to the within instrument and acknowledged that (s)he/they executed the same in his/her/their signature on the instrument the person(s) or entity on behalf of which they acted, executed the instrument.
Witness my hand and official seal
My commission expires ________________ [NOTARY SEAL]