Michigan 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. A Michigan Warranty Deed for Surface with Limited Warranty is a legal document used in real estate transactions to transfer ownership of a property's surface rights from one party to another. This type of deed provides limited assurances to the grantee (buyer) regarding the condition and ownership of the property's surface only. The limited warranty in a Michigan Warranty Deed for Surface ensures that the granter (seller) holds title to the property and has not encumbered it with any undisclosed liens or claims during their ownership. However, the granter does not provide any guarantees or warranties regarding the title beyond their ownership period. This means that any defects or title issues that occurred before their ownership are not covered. In the state of Michigan, there are no specific sub-types or variations of the Surface Warranty Deed. However, it is important to note that other types of warranty deeds exist, such as the General Warranty Deed and the Special Warranty Deed. These deeds offer more comprehensive assurances to the grantee by extending the warranty to cover the entirety of the property's title history. When using a Michigan Warranty Deed for Surface with Limited Warranty, it is highly recommended that both parties consult with legal professionals to ensure the proper execution of the document and to address any concerns. Additionally, conducting a thorough title search or obtaining title insurance can be vital steps in protecting the grantee's investment and reducing potential risks associated with the property's title. To summarize, a Michigan Warranty Deed for Surface with Limited Warranty is a legal instrument used to transfer surface rights of a property. This specific type of warranty deed offers limited assurances to the buyer regarding the condition and ownership of the property's surface, with no coverage for pre-existing defects or title issues. While there are no variations of this type of deed in Michigan, it is crucial for both parties to seek professional advice and consider additional safeguards to protect their interests in the real estate transaction.

A Michigan Warranty Deed for Surface with Limited Warranty is a legal document used in real estate transactions to transfer ownership of a property's surface rights from one party to another. This type of deed provides limited assurances to the grantee (buyer) regarding the condition and ownership of the property's surface only. The limited warranty in a Michigan Warranty Deed for Surface ensures that the granter (seller) holds title to the property and has not encumbered it with any undisclosed liens or claims during their ownership. However, the granter does not provide any guarantees or warranties regarding the title beyond their ownership period. This means that any defects or title issues that occurred before their ownership are not covered. In the state of Michigan, there are no specific sub-types or variations of the Surface Warranty Deed. However, it is important to note that other types of warranty deeds exist, such as the General Warranty Deed and the Special Warranty Deed. These deeds offer more comprehensive assurances to the grantee by extending the warranty to cover the entirety of the property's title history. When using a Michigan Warranty Deed for Surface with Limited Warranty, it is highly recommended that both parties consult with legal professionals to ensure the proper execution of the document and to address any concerns. Additionally, conducting a thorough title search or obtaining title insurance can be vital steps in protecting the grantee's investment and reducing potential risks associated with the property's title. To summarize, a Michigan Warranty Deed for Surface with Limited Warranty is a legal instrument used to transfer surface rights of a property. This specific type of warranty deed offers limited assurances to the buyer regarding the condition and ownership of the property's surface, with no coverage for pre-existing defects or title issues. While there are no variations of this type of deed in Michigan, it is crucial for both parties to seek professional advice and consider additional safeguards to protect their interests in the real estate transaction.