Get Bucknell University I 9 Forms

General warranty deed It's the type of deed that offers the most buyer protection. When committing to a general warranty deed, the seller is promising there are no liens against the property, and if there were, the seller would compensate the buyer for those claims.

A general warranty deed is the gold standard of property transfers. This type of deed is overwhelmingly used in residential purchases. Most lenders require a warranty deed for properties they finance. It offers buyers the greatest possible protection from future claims against the title.

A deed is a document that transfers the title to property from one owner to another. It describes the property being transferred and names all parties to the transaction. It is signed by all parties and is filed on the official record.

A warranty deed provides protection for the buyer, guaranteeing that the seller has the legal right to sell the property. If there is a property dispute later regarding the guarantor's ownership stake, the buyer can sue for breach of warranty. This is the type of deed used in most typical real estate transactions.

The three most common types of property deeds are a general warranty deed, special warranty deed, and quitclaim deed. The deed that is the highest quality deed is the general warranty deed.

General warranty deed: A general warranty deed is the most common type of deed used to transfer fee simple ownership of a property. Unlike a quitclaim deed, a general warranty deed does confirm a grantor's ownership and a legal right to sell.

A gift deed, once issued, cannot be revoked, but it can be challenged in court on the grounds of fraud or coercion. Even if there is no consideration, a relinquishment deed is irrevocable. It can only be challenged in court on the basis of fraud or coercion.