A Partition Warranty Deed in Arkansas is a legal document used in real estate transactions that guarantees the title of a property being transferred. It provides a warranty or guarantee by the seller (granter) to the buyer (grantee) that they have the right to sell the property and that no other party has any claim, lien, or encumbrance against it. This type of deed is specifically used in cases where a property is being divided or partitioned among co-owners or joint owners. It ensures that each owner receives a specific portion of the property and provides legal protection to all parties involved. In Arkansas, there are a few different types of partition warranty deeds, including: 1. Arkansas General Warranty Deed: This document provides the broadest form of warranty and assures the buyer that the title is clear of any defects or claims, not only during the time the granter owned the property but also prior to their ownership. 2. Arkansas Special Warranty Deed: With this deed, the granter guarantees that they have not encumbered the title during their ownership, but they do not provide any assurance about defects or claims that may have existed before they acquired the property. 3. Arkansas Quit Claim Deed: While not a partition warranty deed, it is worth mentioning. This deed is used when a granter transfers their interest in a property without providing any warranties or guarantees. It is often used in situations where a property is being transferred between family members or in divorce cases. In conclusion, an Arkansas Partition Warranty Deed is a legally binding document that guarantees the title of a property being partitioned among co-owners. It provides assurance to buyers that the property being transferred is free from any claims, liens, or encumbrances. The different types of partition warranty deeds in Arkansas include General Warranty Deed, Special Warranty Deed, and Quit Claim Deed.
Warranty Deed Arkansas
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How to fill out Arkansas Partition Warranty Deed?
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An Arkansas quitclaim deed is one of three deed forms Arkansas recognizes for transferring real estate during the owner's life. The distinguishing feature of quitclaim deeds is that they transfer the current owner's interest with no warranty or covenants of title.
$3.30 per $1,000 of actual consideration on transactions that exceed $100 (Dept. of Finance and Administration). This Real Property Transfer Tax must be paid when submitting the quitclaim deed.
An Arkansas quitclaim deed has the same capacity to transfer title to real estate as Arkansas' other deed forms. However?because a quitclaim deed has no covenants or warranty of title?the transferor does not promise that the transferee will actually receive good, clear title to the property.
Arkansas charges a real property transfer tax for real estate transfers involving more than $100.00 in payment. The total transfer tax rate is $3.30 per $1,000.00 of consideration?two-thirds of which is expressly the new owner's responsibility.
This deed must be signed, notarized, and recorded in the county where the property is located. Some counties have more than one recording office, so you need to be sure this deed is being recorded in the correct recording office. Must list the name and address of the person who prepared this deed.
A warranty deed makes a promise to the buyer that the seller has good title to the property. A quitclaim deed, on the other hand, makes no promises. A quitclaim deed just says; whatever interest I have in this property, I give to you.
An Arkansas warranty deed is a legal document used to transfer ownership of real estate from one party to another in the state of Arkansas. The warranty deed includes a guarantee?called a warranty of title?from the seller (also known as the grantor) to the buyer (also known as the grantee).