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.
Akron Ohio Special Warranty Deed — Individual to Individual: A Comprehensive Guide Introduction: In Akron, Ohio, the Special Warranty Deed — Individual to Individual is a legal document used to transfer the ownership of real property from one individual to another. This type of deed provides limited warranties and guarantees the seller's legal right to transfer the property without any encumbrances during their ownership period. This article aims to provide a detailed description of the Akron Ohio Special Warranty Deed — Individual to Individual, including its purpose, key elements, and various types. Key Components of Akron Ohio Special Warranty Deed: 1. Parties Involved: The Special Warranty Deed involves two parties: the granter (seller) and the grantee (buyer). This type of deed is used when the seller holds title to the property and wishes to transfer ownership to the buyer. 2. Property Description: A detailed and accurate description of the property is a crucial element of the Special Warranty Deed. It typically includes the address, boundaries, and legal description of the property, ensuring clarity and precision in the transfer. 3. Limited Warranties: Unlike a General Warranty Deed, which provides broad warranties, the Special Warranty Deed offers limited assurances. The seller guarantees that they have not incurred any encumbrances or title defects during their ownership, only warranting against their own actions or inaction. 4. Consideration: The consideration, or purchase price, paid by the buyer to the seller is an essential component of the Special Warranty Deed. It signifies the financial aspect of the property transfer and is typically stated explicitly within the document. Types of Akron Ohio Special Warranty Deed — Individual to Individual: 1. Statutory Special Warranty Deed: This is the most common type of Special Warranty Deed used in Akron, Ohio. It adheres to the legal requirements set forth by the state and provides statutory warranties, ensuring limited assurance against any defects arising during the granter's ownership. 2. Limited Special Warranty Deed: In some cases, the parties involved may choose to modify the standard Special Warranty Deed to limit specific warranties further. This customized approach may be suitable when the buyer and seller mutually agree to restrict certain liabilities. Conclusion: The Akron Ohio Special Warranty Deed — Individual to Individual is a legally binding document that allows the transfer of property ownership between individuals in a limited warranty framework. With clear parties, a detailed property description, limited warranties, and consideration, this deed ensures a smooth and secure property transfer process. Understanding the different types of Special Warranty Deeds available in Akron, Ohio, and selecting the appropriate one based on the specific circumstances can help facilitate a successful transaction. Legal advice and consultation from a qualified real estate attorney are strongly recommended when drafting or executing a Special Warranty Deed in Akron, Ohio.Akron Ohio Special Warranty Deed — Individual to Individual: A Comprehensive Guide Introduction: In Akron, Ohio, the Special Warranty Deed — Individual to Individual is a legal document used to transfer the ownership of real property from one individual to another. This type of deed provides limited warranties and guarantees the seller's legal right to transfer the property without any encumbrances during their ownership period. This article aims to provide a detailed description of the Akron Ohio Special Warranty Deed — Individual to Individual, including its purpose, key elements, and various types. Key Components of Akron Ohio Special Warranty Deed: 1. Parties Involved: The Special Warranty Deed involves two parties: the granter (seller) and the grantee (buyer). This type of deed is used when the seller holds title to the property and wishes to transfer ownership to the buyer. 2. Property Description: A detailed and accurate description of the property is a crucial element of the Special Warranty Deed. It typically includes the address, boundaries, and legal description of the property, ensuring clarity and precision in the transfer. 3. Limited Warranties: Unlike a General Warranty Deed, which provides broad warranties, the Special Warranty Deed offers limited assurances. The seller guarantees that they have not incurred any encumbrances or title defects during their ownership, only warranting against their own actions or inaction. 4. Consideration: The consideration, or purchase price, paid by the buyer to the seller is an essential component of the Special Warranty Deed. It signifies the financial aspect of the property transfer and is typically stated explicitly within the document. Types of Akron Ohio Special Warranty Deed — Individual to Individual: 1. Statutory Special Warranty Deed: This is the most common type of Special Warranty Deed used in Akron, Ohio. It adheres to the legal requirements set forth by the state and provides statutory warranties, ensuring limited assurance against any defects arising during the granter's ownership. 2. Limited Special Warranty Deed: In some cases, the parties involved may choose to modify the standard Special Warranty Deed to limit specific warranties further. This customized approach may be suitable when the buyer and seller mutually agree to restrict certain liabilities. Conclusion: The Akron Ohio Special Warranty Deed — Individual to Individual is a legally binding document that allows the transfer of property ownership between individuals in a limited warranty framework. With clear parties, a detailed property description, limited warranties, and consideration, this deed ensures a smooth and secure property transfer process. Understanding the different types of Special Warranty Deeds available in Akron, Ohio, and selecting the appropriate one based on the specific circumstances can help facilitate a successful transaction. Legal advice and consultation from a qualified real estate attorney are strongly recommended when drafting or executing a Special Warranty Deed in Akron, Ohio.
