US Legal Forms
Authority to Release of Deed of Trust

Special Warranty Deed Vs Quit Claim Deed In Salt Lake

Category:

Real Estate - Mortgages and Deeds of Trust

State:

Multi-State

County:

Salt Lake

Control #:

US-00186

Format:

Instant download

Description

This form is an Authority to Release. The county clerk is authorized and requested to release from a deed of trust a parcel of land to the executor of the estate. The form must be signed in the presence of a notary public.

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FAQ

Unlike a warranty deed or special warranty deed, a quitclaim deed makes no assurances whatsoever about the property. The Grantor is not promising that title is clean; in fact, the Grantor isn't even promising that he or she owns the property!

Warranty deeds are the safer option when buying property versus simply transferring ownership. Most buyers will want this option. If it is discovered that the seller did not have complete ownership of the property, the buyer can sue for breach of warranty.

A special warranty deed is a type of real estate deed used to transfer property ownership from one person to another. By using this particular deed, the seller is guaranteeing to the buyer that there are no defects or problems with the property title during the time that they owned the property.

Potential Risks for Buyers Special warranty deeds provide limited protection, exposing buyers to potential risks. Buyers may inherit claims or issues that occurred prior to the seller's ownership.

Special Warranty Deeds are frequently used in commercial real estate transactions and foreclosure sales. In commercial transactions, sellers might prefer this type of deed to limit their liability to issues they directly caused.

Now if gina sells the property. She can give her buyer a warranty deed. But i wouldn't advise thatMoreNow if gina sells the property. She can give her buyer a warranty deed. But i wouldn't advise that you'd want to convey the property via another quit claim deed.

Potential Risks for Buyers Special warranty deeds provide limited protection, exposing buyers to potential risks. Buyers may inherit claims or issues that occurred prior to the seller's ownership.

Statutory Warranty Deed – used in transactions in which the grantor desires to limit the warranty to the time in which the grantor has owned the property. Quitclaim Deed – used only to clear any possible interest someone might have in the property.

More info

A quitclaim deed, like a warranty deed and a special warranty deed, is a legal document used to transfer ownership or real property. Unlike warranty deeds and special warranty deeds, quitclaim deeds do not contain any covenants or warranties.A special warranty deed transfers title from one owner (called a grantor) to another owner (called a grantee). Salt Lake County Special Warranty Deed Form. Fill in the blank form formatted to comply with all recording and content requirements. The other types of deeds commonly used in the United States for transferring property are quitclaim deeds and special warranty deeds. A quitclaim deed is similar to a warranty deed in that it transfers ownership of a property, however, it offers the least amount of protection to the buyer. Utah deed forms include quitclaim deed, special warranty deed, warranty deed, life estate deed, and TOD deed. Get a customized deed online. Utah Quit Claim Deed Form Provides no warranty of title.

Special Warranty Deed Vs Quit Claim Deed In Salt Lake

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FAQ

Is a special warranty deed the same as a quitclaim deed?

What is the safest type of deed?

What does a special warranty deed protect the grantee against?

What are the risks of a special warranty deed?

Why would a seller want a special warranty deed?

Can I change a quitclaim deed to a warranty deed?

What are the disadvantages of a special warranty deed?

What is the difference between a warranty deed and a quit claim deed in Utah?

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