A Nebraska Warranty Deed for Surface with Limited Warranty is a legal document that transfers ownership of real property in the state of Nebraska. It provides a limited warranty to the buyer, guaranteeing that the property is free from certain title defects during the time the seller held the property. The main purpose of a Warranty Deed is to ensure the buyer that the seller has legal authority to convey the property and that there are no undisclosed encumbrances or claims against the title. It is important to note that a Limited Warranty Deed only provides protection against title issues that occurred during the seller's ownership, and does not extend to any defects or encumbrances that existed prior to that period. This type of deed is commonly used in Nebraska to transfer ownership of surface rights, which grant the buyer exclusive use and possession of the surface area of the property, including any improvements or structures on it. Surface rights may encompass residential or commercial land, farmland, or any other type of real estate. Different variations of Nebraska Warranty Deed for Surface with Limited Warranty may include: 1. Warranty Deed with Reservation — This type of deed allows the seller to reserve certain rights or interests in the property even after transferring ownership to the buyer. These reservations could include mineral rights, water rights, or the right to access specific areas of the property. 2. Warranty Deed with Encumbrances — In some cases, a seller may convey a property with known encumbrances, such as easements, liens, or mortgages. This variation of the Warranty Deed explicitly states the existence of these encumbrances while still providing a limited warranty against any undisclosed claims. 3. Warranty Deed for Joint Tenancy — This type of Warranty Deed is used when multiple individuals want to hold ownership rights in the property as joint tenants. Joint tenancy grants each owner an undivided interest in the property, with the right of survivorship. 4. Warranty Deed for Tenancy in Common — Similar to joint tenancy, this variation of the Warranty Deed is used when multiple individuals want to hold ownership rights in the property. However, unlike joint tenancy, each owner's interest is divided and can be separately conveyed or inherited. In conclusion, a Nebraska Warranty Deed for Surface with Limited Warranty is a legal document that transfers ownership of surface rights in real property in Nebraska. It ensures the buyer that the seller has the legal authority to convey the property and provides a limited warranty against any title defects that arose during the seller's ownership. Additional variations of this deed may exist to accommodate specific circumstances or interests in the property.
Nebraska Warranty Deed for Surface with Limited Warranty
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FAQ
Quitclaim Deed A deed used to transfer any interest in real property that the grantor may have. It contains no warranties of any kind.
The quitclaim deed, also called a non-warranty deed, offers the grantee the least amount of protection. This type of deed conveys whatever interest the grantor currently has in the property?if any.
A special warranty deed or limited warranty deed only guarantees that no title problems occurred during the time the seller has owned the property. That means the previous owner can't be held accountable for creditors' liens or other issues that occurred before they took possession of the home.
Special warranty deeds are generally used when the property's ownership history is unknown to the grantor. For instance, in the administration of a deceased person's estate, the executor may be unaware of past issues with the property and thus would only warrant the title against defects caused by the deceased.
General Warranty Deed ? The General Warranty deed is often referred to simply as a warranty deed. It is a deed conveying title where the seller (grantor) makes six covenants or promises to the buyer (grantee) as part of the conveyance.
Relates to the past and guarantees grantor ownership. The deed that offers a limited number of warranties is a. general warranty deed.
