This form is a Special Warranty Deed where the Grantor is a Trust, with two Co-Trustees, and Husband and Wife, or Two Individuals, as Grantees. Grantor conveys and specially warrants the described property to the Grantees. This deed complies with all state statutory laws.
Virginia Special Warranty Deed from a Trust (Two Co-Trustees) to Husband and Wife / Two Individuals
Category:
State:
Virginia
Control #:
VA-035-78
Format:
Word;
Rich Text
Instant download
Description Special Warranty Deed Form Virginia
Free preview Virginia Special Warranty Deed Form
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Virginia Warranty Deed Form popularity
Virginia Warranty Deed Form Other Form Names
Special Purpose Deed
Co Trustees
FAQ
A trustee deed offers no such warranties about the title.
A quitclaim deed can be used to transfer property from a trust, but a Special Warranty Deed seems to be a more common way to do this.
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.
Locate the deed that's in trust. Use the proper deed. Check with your title insurance company and lender. Prepare a new deed. Sign in the presence of a notary. Record the deed in the county clerk's office.
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.
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.
In the context of a California mortgage transaction, a trust deed also transfer ownership. Only this time, the title is being placed in the hands of a third-party trustee, who holds the property on behalf of the lender and the homeowner-borrower until the mortgage is paid.
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