This Warranty Deed from Individual to Individual form is a Warranty Deed where the Grantor is an individual and the Grantee is an individual. Grantor conveys and warrants the described property to Grantee less and except all oil, gas and minerals, on and under the property owned by Grantor, if any, which are reserved by Grantor. This deed complies with all state statutory laws.
A warranty deed is a legal document used in real estate transactions to transfer ownership of a property from one individual to another in Wayne, Michigan. This type of deed provides a guarantee or "warranty" from the granter (the individual selling the property) to the grantee (the individual purchasing the property) that the property is free of any liens, encumbrances, or undisclosed claims. In Wayne, Michigan, there are two main types of warranty deeds used for the transfer of property from an individual to another individual: 1. General Warranty Deed: This is the most common type of warranty deed that offers the highest level of protection to the grantee. It ensures that the granter will defend the title against any claims that may arise even before the granter acquired the property. This type of warranty deed guarantees the grantee that they are receiving a property with clear title. 2. Special Warranty Deed: This type of warranty deed provides a limited warranty to the grantee. It guarantees that the granter has not caused any defects in the title but does not protect against any defects or claims that existed prior to the granter's ownership. This means that the grantee may not have as much protection as they would with a general warranty deed. When preparing a Wayne, Michigan warranty deed from an individual to an individual, it is crucial to accurately include the following information: 1. Granter and Grantee: Clearly state the full legal names and addresses of both the granter and the grantee involved in the transaction. 2. Property Description: Provide a detailed and accurate legal description of the property being transferred. This may include the legal description found in the property's title or deed, including boundary lines, lot numbers, and any other relevant details. 3. Consideration: State the agreed-upon purchase price or consideration for the property transfer. Ensure that the amount is clearly stated in both numeric and written formats. 4. Signatures: The warranty deed must be signed and notarized by the granter(s) in the presence of a notary public. This notary acknowledgment is essential for the document's validity. 5. Recording: After signing and notarizing the warranty deed, it must be recorded with the Wayne County Registrar of Deeds. This step is crucial to provide public notice of the transfer of ownership and to ensure the document's legal enforceability. In conclusion, a Wayne, Michigan warranty deed from an individual to an individual is a legal document that transfers property ownership with certain guarantees. Understanding the difference between a general warranty deed and a special warranty deed is crucial when entering into a property transaction. Ensuring accuracy and completeness of information, signing and notarizing the deed, and recording it with the appropriate authorities are essential steps to make the transfer valid and legally enforceable.
