Which statement is true regarding a special warranty deed?

Which of the following is TRUE regarding a special warranty deed? -The grantor's warranties are limited to the time the grantor owned the property.

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North Carolina Special Warranty Deed - Individual to Individual

Greensboro North Carolina Special Warranty Deed - Individual to Individual

Name: Greensboro North Carolina Special Warranty Deed - Individual to Individual
Brand: US Legal Forms
Rating: 4.81 (469 reviews)

Category:

North Carolina Real Estate - Deeds - Special Warranty

State:

North Carolina

City:

Greensboro

Control #:

NC-021-78

Format:

Instant download

Description

This form is a Special Warranty Deed where the grantor and the grantee are individuals. Grantor conveys and specially warrants the described property to the grantee. The grantor only warrants and will defend the property only as to claims of persons claiming by, through or under grantor, but not otherwise. This deed complies with all state statutory laws.

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FAQ

What Are the Steps to Transfer a Deed Yourself? Retrieve your original deed.Get the appropriate deed form.Draft the deed.Sign the deed before a notary.Record the deed with the county recorder.Obtain the new original deed.

Special warranty deeds go by many names in different states, including covenant deed, grant deed, and limited warranty deed. The guarantee covers only the period when the seller held title to the property with a special warranty deed.

A special warranty deed provides assurance that the property's seller owns the property in question and has not faced any title issues during this ownership. A special warranty deed guarantees that the buyer won't face any legal action or title issues as a result of the actions of the property's previous owner.

A North Carolina special warranty deed is used to convey property from a grantor (seller) to a grantee (buyer) with a limited guarantee that there are no liens or encumbrances on the title during the grantor's ownership. Although, the deed does not guarantee clean title from past owners.

12. Who benefits the most from recording a warranty deed? D. Explanation: The grantee is the one who has acquired an interest in the land, and she is the one who benefits the most from recording the deed to provide constructive (legal) notice of that interest.

A deed, of course, is a legal document representing property ownership. But you might be wondering if an owner can transfer a deed to another person without a real estate lawyer. The answer is yes. Parties to a transaction are always free to prepare their own deeds.

A general warranty deed protects the grantee against any title defects or claims arising at any point in time. Whereas, a special warranty deed only protects the grantee against title defects arising from the actions or omissions of the grantor during its ownership.

North Carolina's transfer tax rates are straightforward ? expect to pay $1 for every $500 of the sale price. For the state's average home value of $320,291, the transfer tax would amount to $640.58.

Which of the following is TRUE regarding a special warranty deed? -The grantor's warranties are limited to the time the grantor owned the property.

Greensboro North Carolina Special Warranty Deed - Individual to Individual

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FAQ

How do I transfer a deed in NC?

What is another name given to a special warranty deed?

What may be a reason that a special warranty deed is being issued for this transaction?

What is a special warranty deed in North Carolina?

Who benefits the most from recording a warranty deed?

Do you need a lawyer to transfer a deed in NC?

What is the difference between a general warranty deed and a special warranty deed in North Carolina?

How much does it cost to transfer a deed in NC?

Which statement is true regarding a special warranty deed?

Interesting Questions

What is a Special Warranty Deed?

Who typically prepares a Special Warranty Deed?

What is the purpose of a Special Warranty Deed?

What does 'Individual to Individual' mean in Greensboro Special Warranty Deed?

What are the main characteristics of a Special Warranty Deed?

What types of real estate transactions use Special Warranty Deeds?

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