Alabama Royalty Deed with Limited Warranty
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How to fill out Royalty Deed With Limited Warranty?
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FAQ
Relates to the past and guarantees grantor ownership. The deed that offers a limited number of warranties is a. general warranty deed.
Types of Deeds in Arkansas The limited warranty deed only guarantees that no issues were created while the seller was in possession of the property. Quitclaim deeds are also available in Arkansas, but used only in specific situations.
A special warranty deed or limited warranty deed only guarantees that no title problems occurred during the time the seller has owned the property. That means the previous owner can't be held accountable for creditors' liens or other issues that occurred before they took possession of the home.
Also called a non-warranty deed, a quitclaim deed conveys whatever interest the grantor currently has in the property if any. The grantor only "remises, releases, and quitclaims" their interest in the property to the grantee. There are no warranties or promises regarding the quality of the title.
Attorney Involvement All legal documents must be drafted by an attorney licensed to practice in the State of Alabama. Parties to a transaction can draft their own documents if they are doing so on behalf of themselves.
When using a warranty deed, the grantor guarantees that the property has no outstanding title problems and that they, the current owner, have the legal right to sell to the buyer.
A special warranty deed guarantees two things: The grantor owns, and can sell, the property; and the property incurred no encumbrances during his ownership. A special warranty deed is more limited than the more common general warranty deed, which covers the entire history of the property.
Warranty Deed for Real Estate Located in Alabama The execution of a warranty deed must be attested by at least one witness or, if the party cannot write, by two witnesses who are able to write (35-4-20). A proper acknowledgement will satisfy the witness requirements listed in 35-4-20.
