A Delaware Warranty Deed for Surface with Limited Warranty is a legal document that transfers ownership of real property in Delaware from one party to another, with a limited warranty provided by the granter (seller). This type of deed ensures that the granter guarantees the title of the property up to the time of the granter's ownership, but does not provide assurances against defects or claims that may have arisen before the granter's ownership. Keywords: Delaware Warranty Deed, Surface, Limited Warranty, real property, ownership, title, granter, seller, defects, claims. There are two main types of Delaware Warranty Deeds for Surface with Limited Warranty: 1. Delaware Warranty Deed for Surface with Limited Warranty — Individual to Individual: This type of deed refers to the transfer of real property from an individual seller to an individual buyer. It establishes the limited warranty of title provided by the seller to the buyer, ensuring that the property is free from any claims or encumbrances created or suffered by the seller. However, this type of warranty does not guarantee against claims or issues that existed prior to the seller's ownership. 2. Delaware Warranty Deed for Surface with Limited Warranty — Entity to Individual: This form of deed applies when the seller is an entity, such as a corporation or LLC, transferring real property to an individual purchaser. The limited warranty of title extended in this case ensures that the entity seller legally owns the property and can transfer it, but the warranty does not go beyond the seller's period of ownership. In both types, the limited warranty assures the buyer that the seller has the right to sell the property and has not encumbered it beyond the identified limitations, but it does not encompass any hidden or latent defects that may exist. It is always advisable for buyers to perform thorough due diligence, such as title searches and surveys, to ensure the absence of any undisclosed issues before completing the purchase. Overall, a Delaware Warranty Deed for Surface with Limited Warranty serves as a valuable legal instrument that facilitates the transfer of property ownership while offering some assurance of a clean title, but it is essential to understand its limitations and consult with a legal professional to ensure the transaction is conducted accurately and in compliance with Delaware real estate laws.
Delaware Warranty Deed for Surface with Limited Warranty
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FAQ
A Delaware special warranty deed is used to transfer land and buildings to another person or entity. It does not guarantee that there is clean title going back past the current owners ? only that the current owners have not transferred their interest in the property to anyone or otherwise encumbered the property.
Relates to the past and guarantees grantor ownership. The deed that offers a limited number of warranties is a. general warranty deed.
Quitclaim Deed A deed used to transfer any interest in real property that the grantor may have. It contains no warranties of any kind.
General Warranty Deed ? The General Warranty deed is often referred to simply as a warranty deed. It is a deed conveying title where the seller (grantor) makes six covenants or promises to the buyer (grantee) as part of the conveyance.
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.
The quitclaim deed, also called a non-warranty deed, offers the grantee the least amount of protection. This type of deed conveys whatever interest the grantor currently has in the property?if any.
