LIMITED WARRANTY DEED-Rehabbing,
Why is limited warranty deed good for the seller?
Real estate market is and has been on the rise from a long time. That’s why deals of properties take place every day. Because it is a very high value item, some of the deals result in huge conflicts, and ultimately one or both the parties have to suffer. Thus, it is advised to seller and buyer to have foolproof paperwork of the deal. A lawyer or even an expert realtor can be hired to prepare the agreement.
There are four different types of deals that can take place during sale and purchase of a property. For a seller, a limited warranty deed is the most beneficial. In this the seller is responsible for the property only during the period of their ownership. And thus only the problems that took place during this period will affect the terms of the deal or the value of the property. The seller cannot be held liable for anything that happened before their ownership. Thus this type of deed protects the seller from most of the conflicts that can happen during a deal.
As a seller, you should try your best to get into a limited warranty deed only, especially if there have been many owners before them. It is also a great option for those who did not have the ownership for long. You can consult a realtor to discuss the details of the deed and then decide whether it will be beneficial for the sale of your property or not. Take the decision very carefully.
LIMITED WARRANTY DEED-Rehabbing, 10.0 out of 10 based on 1 rating
STATE OF GEORGIA
COUNTY OF ______________
This Indenture made this _______ day of _____________ 20_____ between ____________________ _____________________________of the County of _______________, State of Georgia, as party or parties of the first part, hereinunder called Grantor, and ____________________________________ as party or parties of the second part, hereinafter called Grantee (the words “Grantor” and “Grantee” to include their respective heirs, successors and assigns where the context requires or permits).
WITNESSETH that: Grantor, for and in consideration of the sum of TEN AND 00/100’S ($10.00) Dollars and other good and valuable considerations in hand paid at and before the sealing and delivery of these presents, the receipt whereof is hereby acknowledged, has granted, bargained, sold, aliened, conveyed and confirmed, and by these presents does grant, bargain, sell, alien, convey and confirm unto the said Grantee,
TO HAVE AND TO HOLD the said tract or parcel of land, with all and singular the rights, members and appurtenances thereof, to the same being, belonging, or in anywise appertaining, to the only proper use, benefit and behoof of the said Grantee forever in FEE SIMPLE.
AND THE SAID Grantor, for it’s heirs, executors and administrators, will warrant and forever defend the right and title to the above-described property, unto the said Grantee, it’s heirs and assigns, against the claims of all persons claiming by, through, or under Grantor herein.
IN WITNESS WHEREOF, Grantor has hereunto set Grantor’s hand and seal this day and year first written above.
Signed, sealed and delivered in the presence of: