Warranty Deed Delete Value Choice For Free

First, so long as you own the property you purchased, you are obligated to pay its property taxes. One way to get a warranty deed to the property you acquired via a foreclosure where you got a quit claim deed for it is to simply deed the property to yourself or a trust that you created as a grant (warranty) deed.

It is necessary to use a warranty deed to secure the grantee's legal ownership and claim to the property.The new owner has full rights to the property, and can sell it if desired. Receiving a warranty deed guarantees that there are no liens or encumbrances on the property.

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 for a property transfer as part of a typical sale, though, you probably will have to take legal action to revoke the deed.

DEED: A written instrument by which one party, the Grantor, conveys the title of ownership in property to another party, the Grantee. A Warranty Deed contains promises, called covenants, that the Grantor makes to the Grantee.

Warranty deeds provide the purchaser of the property with the highest form of protection, and are often used when a buyer wants to get financing for a mortgage or title insurance.The property is free and clear of all liens and outstanding claims. The title would withstand third-party claims to ownership of the

However, the level of legal protection is much different. A quitclaim deed suffices for transferring ownership to people you know and trust. But a warranty deed is the right document for most property transfers.

Quitclaim deeds are most often used to transfer property between family members. Examples include when an owner gets married and wants to add a spouse's name to the title or deed, or when the owners divorce and one spouse's name is removed from the title or deed.