A Washington Statutory Warranty Deed is a legal document used to transfer the ownership of a piece of real estate from one party to another. This type of deed is specifically recognized and regulated by the state of Washington and contains certain provisions and warranties that protect the buyer from any legal claims that may be made against the property. The Washington Statutory Warranty Deed includes a guarantee from the seller that they have the right to convey the property, that the title is free and clear of all liens and encumbrances, and that the buyer will receive possession of the property free and clear of any claims or encumbrances. The Washington Statutory Warranty Deed also includes a warranty of quiet enjoyment, which means the buyer will not be disturbed by any third-party claims to the property. There are two types of Washington Statutory Warranty Deeds: a general warranty deed and a special warranty deed. A general warranty deed provides the buyer with the broadest possible protection, as it guarantees that the seller has been the owner of the property for a certain amount of time and that the title is free and clear of any liens or encumbrances. A special warranty deed is more limited in scope and only provides the buyer with protection from any claims made against the property during the seller’s ownership.
Washington Statutory Warranty Deed
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How to fill out Washington Statutory Warranty Deed?
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FAQ
Transfer-on-Death Deeds in Washington State A TOD deed, also called a beneficiary deed, is a legal method of property transfer first enacted by Washington State legislature on June 12, 2014.
Because property ownership records are based on legal documents, changes to the name of the property owner may only be made based on legal documents of record. To request an update to the property owner name, submit a written request from the owner along with a copy of the relevant legal document.
Quitclaim deeds are similar to traditional deeds in that they transfer property from one party to another. However, the biggest difference between a deed and quitclaim deed is that the latter transfers the property without promises that the property is free from liens or other financial obligations, such as a mortgage.
Both a warranty deed and deed of trust are used to transfer the title of a property from one person to another. However, the difference between these two contracts is who is protected. As you now know, a deed of trust protects the beneficiary (lender). A warranty deed, on the other hand, protects the property owner.
A Deed is a legal document that conveys interest in real property from one person or entity to another. The three types of deeds approved by Washington State Legislature are; the Warranty Deed, Bargain and Sale Deed and the Quit Claim Deed.
A Washington deed is used to transfer the ownership of property from a grantor, or ?seller,? to a grantee, or ?buyer,? in the State of Washington. This form is usually completed after a purchase and sale agreement has been authorized and a deed transfers the actual property.
Gifts of real property in Washington are, however, subject to the federal gift tax. The grantor is responsible for paying the federal gift tax; however, if the grantor does not pay the gift tax, the gratnee will be held liable 1.
Generally, a grantor would prefer to use a bargain and sale deed because it limits their liability. In contrast, a grantee would prefer a general warranty deed because it gives them the most protection possible.