Make Notes On Legal New Jersey Warranty Forms For Free

A New Jersey general warranty deed conveys property in ?fee simple,? giving the new owner (or grantee) the cleanest type of title available and protection from any liens or encumbrances.

Fee simple is a legal term used in real estate that means full and irrevocable ownership of land, and any buildings on that land. Fee simple is the highest form of ownership ? it means the land is owned outright, without any limitations or restrictions other than local zoning ordinances.

General warranty deeds: A general warranty deed provides the most protection to the buyer but gives the grantor the highest degree of liability. The grantor of a general warranty deed fully warrants good, clear title to the property. This type of deed is used in most real estate deed transfers.

Under the New Jersey Service Contract Act, "warranty" means a warranty made solely by the manufacturer, importer, or seller of property or services without additional consideration, that is incidental to, and not negotiated or separated from, the sale of the property or services, that guarantees indemnity for defective ...

Fee Simple Ownership Subject To Condition Subsequent As an example, an owner might use this form of ownership if they wanted to give away the land subject to the building of a library. If the library isn't subsequently built, the owner has a right to take the land back, but they need to take action to do so.

Bargain and Sale Deed This is the most common type of deed used to transfer real estate. In New Jersey, a bargain and sale deed must contain a covenant that guarantees (warrants) that the property is not encumbered by any acts of the seller during his or her time of ownership.