Warranty Deed Replace Dropdown List For Free

A special warranty deed?also known as a limited warranty deed?is a variation of the general warranty deed. While the word "special" may communicate to a buyer the idea that the deed is of higher quality, the special warranty deed is less comprehensive. It offers less protection due to the limited timeframe it covers.

A general warranty deed must include the following to be valid: The name and address of the seller (called the grantor) The name and address of the buyer (called the grantee) A legal description of the property (found on the previous deed) A statement that the grantor is transferring the property to the grantee.

The granting clause in a special warranty deed generally contains the words grantor remises, releases, alienates, and conveys.

The majority of transactions call for general warranty deeds because the buyer will want assurances that he or she is getting good and proper title to the property. To do this, the buyer will normally obtain a full title search and title insurance.

In short, the distinction between the two forms of ?warranty? deeds is that in a general warranty deed, the seller warrants against anything any owner of the property ever did to encumber title and in a special warranty deed the seller only warrants against anything the seller did to encumber title.

How to Write (1) Authorized New Mexico Filing Recipient. ... (2) New Mexico Grantor Name. ... (3) New Mexico Grantee Name. ... (4) New Mexico County Of Real Property. ... (5) Legal Description Of New Mexico Property. ... (6) Relevant Years. ... (7) Date Of New Mexico Conveyance. ... (8) New Mexico Grantor Signature.

To start, a ?Deed? is the name of the most common document used to transfer title of real estate. And the most common deeds are the General Warranty Deed and the Special Warranty Deed. The primary difference between these two deeds is the extent of the ?warranties? the seller is giving to the buyer.

*A general warrant deed contains five covenants to include Covenant of Seisin, Covenant of Quiet Enjoyment, Covenant Against Encumbrances, Covenant of Further Assurance, and Covenant of a Warranty Forever. There is no Covenant of Exceptions and Reservations included.

Following is the list of the warranties that the law treats as implied in the contract of sale:Warranty As To Undisturbed Possession.The Warranty As To Non-Existence Of Encumbrances.Warranty As To The Disclosure Of Dangerous Nature Of Goods.The Warranty As To Non-Existence Of Encumbrances.More items...

Essentially, a warranty of title warrants that you, the seller, have title to a product that you're selling and that there are no liens on the product, which the buyer is unaware of at the time of purchase. Meaning, don't sell stolen or pirated goods.