LIMITED WARRANTY DEED- Land Contracts
What is a limited warranty deed
A limited warranty deed is a document which is made by the county of a particular state and the grantors as well as grantees. In this limited warranty deed the grantor informs that he has received payments and in exchange has either sold, conveyed, granted or confirmed it to the grantee.
In this the grantee is said to hold all the rights, members and appurtences and is said to use the property well. In this limited warranty deed the parties acknowledge and execute the deed in the presence of the county recorder or at the registrar of titles.
When the limited warranty deed is not recorded, it is considered as void against the subsequent purchaser and if this has been recorded then the question of good faith of the person who is the subsequent purchaser does not get affected. These limited warranty deeds are recorded where the property is located, in that same county.
When the grantor in this deed warrants that he has not done anything or suffered anything and thus the title cannot be encumbered and thus it can be listed on the deed. It is said that the convenants of the title are not implied in the conveyance.
In this deed if there are any encumbrances which are there, the grantor should inform the grantee that it exists as well as the nature of it before any sort of consideration is paid to the grantor by the grantee.
This deed when it is presented for recordation, it needs to be sent alongwith the certificate of real estate value as well as a well disclosure certificate.
Sample Template Preview
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:
- Application Receipt Agreement-land contracts
- Assignment of Escrow Funds and Insurance
- BILL OF SALE
- Cancellation of Existing Hazard Insurance-land contacts
- Gift Letter for Buyer from Family Member
- HUD 1 Settlement Statement- Land Contracts
- Landlord’s Rules and Regulations
- Repair Addendum -Land Contracts
- SATISFACTION OF Deed of Trust
- Standard Real Estate Lease Agreement (buying)