A warranty deed guarantees that a seller owns the property free and clear of liens. A special warranty deed is the more limited of the two.A warranty deed is a legal document that a property owner signs in certain circumstances when transferring their property to a new owner. A warranty deed or quit claim deed TRANSFERS TITLE or OWNERSHIP of real property. A warranty deed is a document used in real estate to certify that a property is owned free and clear. There are four commonly seen deed categories: Quit Claim, Warranty, Special Warranty, and In Trust Deeds. An Illinois warranty deed form is a type of deed used to transfer real estate with a full warranty of title. A title search is the best way to prove that a grantor rightfully owns a property. The warranty deed is a legal document that offers the buyer protection. Warranty deed and general warranty deed are the most common names nationally for deeds that transfer title with a complete warranty.