A New Jersey Warranty Deed for Surface with Limited Warranty is a legal document used to transfer ownership of a property's surface rights from a seller (granter) to a buyer (grantee) in New Jersey. This type of deed guarantees that the granter has the legal right to sell the property and protects the grantee from any future claims or defects on the title, except those already known by the grantee. The limited warranty aspect of this deed ensures that the granter will defend the grantee's ownership rights against any claims arising during the granter's ownership, but not against claims that may predate the granter's ownership. This means that the granter is responsible for any defects, liens, or encumbrances that occurred during their ownership period but isn't accountable for any issues prior to that period. There are no specific variations or types of New Jersey Warranty Deed for Surface with Limited Warranty outlined in the state statutes. However, it's essential to consult with a qualified real estate attorney or title professional to ensure that the specific language and provisions meet the legal requirements of New Jersey and address the needs of the parties involved. When drafting a New Jersey Warranty Deed for Surface with Limited Warranty, it is vital to include relevant information such as: 1. Names and addresses of the granter(s) and grantee(s): The full legal names and mailing addresses of both parties involved in the deed transfer. 2. Property description: A detailed description of the property being conveyed, including the full address, tax identification number, and any other relevant information to identify the property accurately. 3. Consideration: The amount of money or value exchanged between the granter and the grantee for the property being transferred. 4. Warranty clause: A clear statement that the granter warrants that they own the surface rights to the property and have the legal authority to sell it. This clause should limit the granter's liability to any claims arising only during their ownership period. 5. Legal and notary acknowledgments: The deed should include spaces for the granter's signature, which must be witnessed by a notary public. It's crucial to comply with New Jersey's specific notary requirements for the document to be legally valid. By utilizing a New Jersey Warranty Deed for Surface with Limited Warranty, both the granter and the grantee can have peace of mind knowing that the property's surface rights are being legally transferred, and they are protected against any potential claims that may arise after the transfer. It's imperative to seek legal advice to ensure the deed accurately reflects the intentions of both parties and adheres to New Jersey state laws.
New Jersey Warranty Deed for Surface with Limited Warranty
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A bargain and sale deed with covenant against grantor's acts provides the grantee with a covenant that the grantor has not committed any act that would encumber title to the real property being conveyed. This is the most common type of deed used in New Jersey.
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.
Quitclaim Deed A deed used to transfer any interest in real property that the grantor may have. It contains no warranties of any kind.
Relates to the past and guarantees grantor ownership. The deed that offers a limited number of warranties is a. general warranty deed.
Cons: Fewer protections for buyers, who are now responsible for addressing any previous liens or claims for the property. Lenders and title companies may refuse to help buyers secure financing or title insurance for a property sold under special warranty.
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.
A form of deed that transfers fee title and legal interests in New Jersey real property. A special warranty deed requires a grantor to warrant to the grantee and defend the property on the grantee's behalf only against claims arising by, through, or under the grantor.
Deeds are a legal document that transfers ownership in real estate. New Jersey recognizes multiple kinds of deeds: bargain and sale, quit claim, sheriff's deed, deed in lieu of foreclosure, special warranty, and general warranty deeds.
