Indiana Warranty Deed for Surface with Limited Warranty

• Category: Oil Gas and Minerals - Deeds
• State: Multi-State
• Control #: US-OG-320
• Format: Word; Rich Text

Description

This form of deed conveys the surface estate in existing lands pursuant to a contract of sale. Indiana Warranty Deed for Surface with Limited Warranty is a legal document that transfers the ownership of a property's surface rights with certain limitations and warranties. This deed provides protection to the buyer by guaranteeing that the seller holds the title to the property and has the right to transfer it. In Indiana, there are two main types of Warranty Deeds for Surface with Limited Warranty: 1. Indiana Warranty Deed for Surface with Limited Warranty — This type of deed includes a limited warranty in which the seller guarantees that they have not done anything to encumber the title of the property, but does not provide any warranty against defects that might exist prior to their ownership. This means that the buyer may have limited protection against potential title issues. 2. Special Warranty Deed for Surface with Limited Warranty — This type of deed offers similar limited warranty as the standard Warranty Deed for Surface with Limited Warranty. However, the seller only warrants and defends against any claims arising from their period of ownership, excluding any defects or issues that existed prior to their ownership. In other words, the seller's warranty is limited to their own actions or omissions during their ownership period. It is important to note that the Indiana Warranty Deed for Surface with Limited Warranty is commonly used in transactions involving surface rights only, meaning it excludes any mineral or subsurface rights which may be separately owned or leased. When using a Warranty Deed for Surface with Limited Warranty, buyers should conduct thorough due diligence to ensure they are aware of any potential title defects or encumbrances that could affect their ownership of the property. Additionally, it is advisable for buyers to obtain title insurance to further protect their interests in the property. Overall, the Indiana Warranty Deed for Surface with Limited Warranty is designed to provide some level of protection to buyers while acknowledging the limitations in the seller's warranties. It is recommended that parties involved in such transactions seek legal advice to understand the specific terms and implications of this type of deed.

Indiana Warranty Deed for Surface with Limited Warranty is a legal document that transfers the ownership of a property's surface rights with certain limitations and warranties. This deed provides protection to the buyer by guaranteeing that the seller holds the title to the property and has the right to transfer it. In Indiana, there are two main types of Warranty Deeds for Surface with Limited Warranty: 1. Indiana Warranty Deed for Surface with Limited Warranty — This type of deed includes a limited warranty in which the seller guarantees that they have not done anything to encumber the title of the property, but does not provide any warranty against defects that might exist prior to their ownership. This means that the buyer may have limited protection against potential title issues. 2. Special Warranty Deed for Surface with Limited Warranty — This type of deed offers similar limited warranty as the standard Warranty Deed for Surface with Limited Warranty. However, the seller only warrants and defends against any claims arising from their period of ownership, excluding any defects or issues that existed prior to their ownership. In other words, the seller's warranty is limited to their own actions or omissions during their ownership period. It is important to note that the Indiana Warranty Deed for Surface with Limited Warranty is commonly used in transactions involving surface rights only, meaning it excludes any mineral or subsurface rights which may be separately owned or leased. When using a Warranty Deed for Surface with Limited Warranty, buyers should conduct thorough due diligence to ensure they are aware of any potential title defects or encumbrances that could affect their ownership of the property. Additionally, it is advisable for buyers to obtain title insurance to further protect their interests in the property. Overall, the Indiana Warranty Deed for Surface with Limited Warranty is designed to provide some level of protection to buyers while acknowledging the limitations in the seller's warranties. It is recommended that parties involved in such transactions seek legal advice to understand the specific terms and implications of this type of deed.