This form is a Special Warranty Deed where the Grantor is a corporation and the Grantee is a corporation. Grantor conveys and specially warrants the described property to the Grantee. The Grantor only warrants and will defend the property only as to claims of persons claiming by, through or under grantor, but not otherwise. This deed complies with all state statutory laws.
Texas Special Warranty Deed - Corporation to Corporation
Category:
State:
Texas
Control #:
TX-065-78
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Word;
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FAQ
Find the most recent deed to the property. It is best to begin with a copy of the most recent deed to the property (the deed that transferred the property to the current grantor). Create a new deed. Sign and notarize the deed. File the documents in the county land records.
Special warranties allow the transfer of property title between seller and buyer. The purchase of title insurance can mitigate the risk of prior claims to the special warranty deed.
A warranty deed can be revoked. In most situations, the person signing the deed needs the cooperation of the person who received the deed to revoke it. If the deed was prepared to transfer property between family members or close friends, this might not be a problem.
A special warranty deed to real estate offers protection to the buyer through the seller's guarantee that the title has been free and clear of encumbrances during their ownership of the property. It does not guarantee clear title beyond their ownership.
Special Warranty Deed TX A Special Warranty Deed is a document that transfers title with both express and implied warranties. However, unlike in a General Warranty Deed, the Grantor only warrants the title from the time the Grantor has owned the property.
The deed did not meet the written requirements (such as if it failed to accurately describe the property); The deed was forged; The deed was induced by fraud, misrepresentation, coercion, duress, or undue influence; The deed was not delivered, or not delivered properly, and there was no acceptance by the grantee.
It will not protect against title issues that arose prior to the time the seller took occupancy. Consequently, it offers less protection to buyers, and more protection to sellers, than a general warranty deed, which is the most common option for selling or buying a property.
A warranty deed guarantees that: The grantor is the rightful owner of the property and has the legal right to transfer the title.The title would withstand third-party claims to ownership of the property. The grantor will do anything to ensure the grantee's title to the property.
It's important to note that a warranty deed does not actually prove the grantor has ownership (a title search is the best way to prove that), but it is a promise by the grantor that they are transferring ownership and if it turns out they don't actually own the property, the grantor will be responsible for compensating