Rhode Island Warranty Deed for Surface with Limited Warranty

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Multi-State
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US-OG-320
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Description

This form of deed conveys the surface estate in existing lands pursuant to a contract of sale.

Rhode Island Warranty Deed for Surface with Limited Warranty is a legal document used to transfer ownership rights of a property from a seller (granter) to a buyer (grantee) in the state of Rhode Island. This type of deed provides a limited warranty, also known as a special warranty, where the granter guarantees only against any defects or encumbrances that may have arisen during their ownership. Under Rhode Island law, there are generally two types of deeds used for transferring property ownership: warranty deeds and quitclaim deeds. While a warranty deed guarantees clear ownership, a quitclaim deed offers no warranty or guarantee of ownership rights. However, within the warranty deed category, there are further distinctions based on the extent of protection provided, including Rhode Island Warranty Deed for Surface with Limited Warranty. A Rhode Island Warranty Deed for Surface with Limited Warranty offers a middle-ground approach. It assures the grantee that the granter will defend against any claims arising from their own actions or those of their predecessors in title, but not against claims that predate the granter's ownership. In other words, the granter guarantees the title to the surface property but excludes any warranty against defects or encumbrances that existed before they acquired ownership. This type of warranty deed is commonly used in real estate transactions, especially when the granter is not the original owner of the property or has limited knowledge of the property's full history. It helps protect the grantee's interests by providing some level of assurance against any potential issues that may arise after the property's transfer. When executing a Rhode Island Warranty Deed for Surface with Limited Warranty, it is important to include the legal description of the property, details of the granter and grantee, and the purchase price or consideration paid for the property. Additionally, the deed must be signed and notarized in accordance with Rhode Island state laws. It's crucial to consult with a qualified real estate attorney or legal professional to ensure the proper preparation and execution of a Rhode Island Warranty Deed for Surface with Limited Warranty. This will help protect the rights and interests of both the granter and grantee involved in the property transaction.

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FAQ

Relates to the past and guarantees grantor ownership. The deed that offers a limited number of warranties is a. general warranty deed.

Both deeds contain a promise that the grantor is conveying clear title to the property. But, the difference between the general warranty and limited warranty is the duration of that promise.

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 warranty deed promises that the grantor holds good, clear title to a piece of real estate. It promises also that the grantor has the right and authority right to sell it to the grantee or buyer. A quitclaim deed, on the other hand, makes no promises about the quality of the title to the property.

Special warranty deed. In a special warranty deed, the grantor only promises that no claims have made been against the property during the period of their ownership, and makes no guarantee about any time period before that. This is also sometimes called a limited warranty deed.

The main difference between a grant deed vs. warranty deed is the level of protection offered. A warranty deed offers a higher level of protection than a grant deed. With a grant deed, the grantor is guaranteeing that they haven't sold the property to anyone else, and that it is clear of any liens or restrictions.

In Georgia, a limited warranty deed (also known as a special warranty deed) transfers title in fee simple to the grantee with warranties and covenants of title that are limited only to acts arising by, through, or under the grantor.

A special warranty deed?also known as a limited warranty deed?is a variation of the general warranty deed. While the word "special" may communicate to a buyer the idea that the deed is of higher quality, the special warranty deed is less comprehensive. It offers less protection due to the limited timeframe it covers.

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As with any conveyance of realty, a warranty deed requires a complete legal description of the parcel. Recite the prior deed reference to maintain a clear chain ... As with any conveyance of realty, a special warranty deed requires a complete legal description of the parcel. Recite the prior deed reference to maintain a ...Edit, sign, and share Warranty Deed from Limited Partnership or LLC is the Grantor, or Grantee - Rhode Island online ... Complete this form in 5 minutes or less. Download our warranty deed form to transfer a piece of real property (e.g., land, home, or building) to a new owner. Sep 7, 2023 — A warranty deed is a legal document that is used when transferring ownership of property from a grantor (seller) to a grantee (buyer). It is ... Inform the Rhode Island Land Evidence Department where this paperwork should be mailed once the registration process is complete. Notice that the street ... A mineral deed is a document that transfers mineral rights in a property, which may include the right to disturb the surface to access the minerals. Transfer ownership of a RI real estate property with this easy-to-use Rhode Island Special Warranty Deed form. Feb 27, 2023 — A general warranty deed assures the buyer that the seller owns and has a right to sell the property, and the property does not have liens, debts ... Sep 1, 2022 — Fill Now Click to fill, edit and sign this form now! ... A Rhode Island special warranty deed is a legal instrument for conveying real estate that ...

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Rhode Island Warranty Deed for Surface with Limited Warranty