A Washington Bargain and Sale Deed is a legal document used to transfer ownership of real estate in the state of Washington. It is a type of deed that conveys title to the buyer, but doesn't provide the buyer with any warranties or guarantees regarding the condition of the property. The Bargain and Sale Deed is commonly used in Washington to transfer real estate that has been inherited or when the seller has limited knowledge of the property's condition. There are two types of Washington Bargain and Sale Deeds: a Special Warranty Deed and a General Warranty Deed. A Special Warranty Deed is used when the seller has limited knowledge of the property's condition and the buyer is taking possession of the property "as-is". A General Warranty Deed is used when the seller guarantees that the title is good and clear of any liens or encumbrances and that the property has not been sold to another buyer. Both types of Washington Bargain and Sale Deeds must be signed by the seller and notarized in front of a notary public in order to be legally binding. The deed must also include the names of the buyer and seller, a legal description of the property, and any additional information required by the Washington State laws.
Washington Bargain & Sale Deed
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FAQ
A bargain and sale deed in Washington would be called a special warranty deed in many other states. By using a bargain and sale deed, the grantor makes some promises regarding title, but the covenants only relate to the period that the grantor owned the property.
Since 1973, Oregon has recognized four statutory deed forms. The warranty deed is the most commonly used in arm's-length transactions. The other deed forms are the special warranty deed, the bargain and sale deed, and the quitclaim deed.
An Oregon bargain and sale deed form?like a quitclaim deed?transfers real estate with no warranty of title. Unlike a quitclaim deed, an Oregon bargain and sale deed conveys to the new owner any interests in the real estate vesting in the former owner after execution of the deed.
How to Write & File a Quitclaim Deed in Washington Step 1 ? Obtain Quitclaim Deed Form.Step 2 ? Prepare Cover Sheet.Step 3 ? Enter Preparer's Details.Step 4 ? Write 'Return To' Information.Step 5 ? Note Consideration.Step 6 ? Fill in Grantor's Details.Step 7 ? Enter Grantee's Information.Step 8 ? Note Property County.
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.
A bargain and sale deed indicates that only the seller of a property holds the title and has the right to transfer ownership. This type of deed offers no guarantees for the buyer against liens or other claims to the property, so the buyer could be responsible for these issues if they turn up.
A Bargain and Sale Deed is used to dedicate private land for public use. It is most commonly used for tracts of land that contain stormwater facilities.