Franklin Ohio General Warranty Deed

• Category: Ohio Real Estate
• State: Ohio
• County: Franklin
• Control #: OH-LR018
• Format: Word; Rich Text

Description

Warranty deeds provide the purchaser of the property with the highest form of protection, and are often used when a buyer wants to get financing for a mortgage or title insurance. This form is used by an unmarried person as the Grantor and the Grantee is a limited liability company. A Franklin Ohio General Warranty Deed is a legal document used to transfer ownership of real property from one party, known as the granter, to another party, known as the grantee, with a guarantee that the title is free from any defects or encumbrances. This type of deed provides the highest level of protection for the grantee, ensuring they receive clear and marketable title to the property. The Franklin Ohio General Warranty Deed includes several key components: 1. Parties involved: It identifies the granter (current property owner) and the grantee (new property owner), including their legal names and addresses. 2. Property description: The deed provides an accurate description of the property being transferred, including its physical address, legal description, and any associated parcel or lot numbers. 3. Granter's warranties: The granter explicitly warrants and guarantees that they are the rightful owner of the property and have the authority to transfer ownership. It also assures that the property is free from any liens, claims, or encumbrances other than those specifically listed in the deed. 4. Covenants: The deed usually includes five standard covenants that provide additional assurances to the grantee: a) Covenant of basin: The granter guarantees that they have legal ownership and possession of the property. b) Covenant of right to convey: The granter assures that they have the right to transfer the property. c) Covenant against encumbrances: The granter guarantees that there are no undisclosed encumbrances on the property that could affect the grantee's rights. d) Covenant of quiet enjoyment: The granter ensures that the grantee's possession of the property will not be disturbed by any third-party claims. e) Covenant of warranty: The granter promises to defend the grantee's title against any claims made by third parties. It's important to note that while the Franklin Ohio General Warranty Deed provides comprehensive protection, there are other types of deeds that offer varying levels of protection and assurances. These include: 1. Special Warranty Deed: This type of deed guarantees that the granter only warrants against claims arising during their ownership of the property, offering limited protection compared to a general warranty deed. 2. Quitclaim Deed: A quitclaim deed provides the least amount of protection to the grantee. It conveys whatever interest the granter may have in the property, without providing any warranties or guarantees regarding the title. 3. Sheriff's Deed: A sheriff's deed is usually issued following a foreclosure sale or a court-ordered auction, transferring ownership from the defaulted borrower to the winning bidder. It typically offers limited warranties and is subject to any liens or encumbrances that existed at the time of the foreclosure. In summary, a Franklin Ohio General Warranty Deed is a legally binding document that ensures the grantee receives clear and marketable title to the property, free from any defects or encumbrances. However, it's crucial for both parties to consult legal professionals to understand the specific terms and implications of the deed before completing the transfer of ownership.

A Franklin Ohio General Warranty Deed is a legal document used to transfer ownership of real property from one party, known as the granter, to another party, known as the grantee, with a guarantee that the title is free from any defects or encumbrances. This type of deed provides the highest level of protection for the grantee, ensuring they receive clear and marketable title to the property. The Franklin Ohio General Warranty Deed includes several key components: 1. Parties involved: It identifies the granter (current property owner) and the grantee (new property owner), including their legal names and addresses. 2. Property description: The deed provides an accurate description of the property being transferred, including its physical address, legal description, and any associated parcel or lot numbers. 3. Granter's warranties: The granter explicitly warrants and guarantees that they are the rightful owner of the property and have the authority to transfer ownership. It also assures that the property is free from any liens, claims, or encumbrances other than those specifically listed in the deed. 4. Covenants: The deed usually includes five standard covenants that provide additional assurances to the grantee: a) Covenant of basin: The granter guarantees that they have legal ownership and possession of the property. b) Covenant of right to convey: The granter assures that they have the right to transfer the property. c) Covenant against encumbrances: The granter guarantees that there are no undisclosed encumbrances on the property that could affect the grantee's rights. d) Covenant of quiet enjoyment: The granter ensures that the grantee's possession of the property will not be disturbed by any third-party claims. e) Covenant of warranty: The granter promises to defend the grantee's title against any claims made by third parties. It's important to note that while the Franklin Ohio General Warranty Deed provides comprehensive protection, there are other types of deeds that offer varying levels of protection and assurances. These include: 1. Special Warranty Deed: This type of deed guarantees that the granter only warrants against claims arising during their ownership of the property, offering limited protection compared to a general warranty deed. 2. Quitclaim Deed: A quitclaim deed provides the least amount of protection to the grantee. It conveys whatever interest the granter may have in the property, without providing any warranties or guarantees regarding the title. 3. Sheriff's Deed: A sheriff's deed is usually issued following a foreclosure sale or a court-ordered auction, transferring ownership from the defaulted borrower to the winning bidder. It typically offers limited warranties and is subject to any liens or encumbrances that existed at the time of the foreclosure. In summary, a Franklin Ohio General Warranty Deed is a legally binding document that ensures the grantee receives clear and marketable title to the property, free from any defects or encumbrances. However, it's crucial for both parties to consult legal professionals to understand the specific terms and implications of the deed before completing the transfer of ownership.