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Alaska Special Warranty Deed

Special Warranty Deed

Name: Alaska Special Warranty Deed
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.6 (323 reviews)

Category:

Alaska Real Estate

State:

Alaska

Control #:

AK-LR264T

Format:

Instant download

Description Alaska Special Warranty Deed Form

A special warranty deed to real estate offers protection to the buyer through the seller's guarantee that the title has been free and clear of encumbrances during their ownership of the property. It does not guarantee clear title beyond their ownership.

View Proof Of Delivery Or Mail Of Notice Informal Appointment Admission Of Will To Probate Order To Personal Representative

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View Procedures: How to Close The Estate

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View Instructions: How to Fill Out The Closing Statement

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Warranty Deed Alaska Warranty Deed Form Alaska What Is Special Warranty Deed

FAQ

A warranty deed, also known as a general warranty deed, is a legal real estate document between the seller (grantor) and the buyer (grantee). The deed protects the buyer by pledging that the seller holds clear title to the property and there are no encumbrances, outstanding liens, or mortgages against it.

A special warranty deed is common when a house has been foreclosed on by a bank because the previous owner did not pay their mortgage.The special warranty deed that the bank provides to the new buyer provides no protection for the period of time before the bank took ownership of the property.

Unlike a warranty deed or special warranty deed, a quitclaim deed makes no assurances whatsoever about the property.For example, in a divorce situation where one spouse deeds the house to the other spouse. Quitclaim deeds are commonly used to transfer real property to an LLC or a living trust.

A warranty deed guarantees that: The grantor is the rightful owner of the property and has the legal right to transfer the title.The title would withstand third-party claims to ownership of the property. The grantor will do anything to ensure the grantee's title to the property.

A general warranty deed covers the property's entire history.With a special warranty deed, the guarantee covers only the period when the seller held title to the property. Special warranty deeds do not protect against any mistakes in a free-and-clear title that may exist before the seller's ownership.

Special warranty deeds are most commonly used with commercial property transactions. Single-family and other residential property transactions will usually use a general warranty deed. Many mortgage lenders insist upon the use of the general warranty deed.

A statutory warranty deed is different from a warranty deed because it is a shorter form made available through your state's statutes and it may not outright list the promise that the title is guaranteed to be clear. Instead, because it is a statutory form, this guarantee is implied and is still legally enforceable.

Typically, the lender will provide you with a copy of the deed of trust after the closing. The original warranty deeds are often mailed to the grantee after they are recorded. These are your original copies and should be kept in a safe place, such as a fireproof lockbox or a safe deposit box at a financial institution.

Special Warranty Deed

Description Alaska Special Warranty Deed Form

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Alaska Warranty Deed Form popularity

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FAQ

Why would you use a special warranty deed?

What is the purpose of a warranty deed?

What may be a reason that a special warranty deed is being issued for this transaction?

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

Does a warranty deed mean you own the property?

What is the difference between statutory warranty deed and special warranty deed?

When would you use a special warranty deed?

What is the difference between a statutory warranty deed and a warranty deed?

Who keeps original warranty deed?

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