This form is a General Warranty Deed where the Grantor is an individual and the Grantee is an individual. Grantor conveys and generally warrants the described property to the Grantee. Grantor reserves a life estates in the property. This deed complies with all state statutory laws.
A Dallas Texas General Warranty Deed — Individual to Individual with Reserved Life Estate in Granter is a legal document used in real estate transactions to transfer ownership of a property from one individual to another while reserving a life estate for the granter. This type of deed provides a guarantee to the buyer that the property is free from any liens, encumbrances, or claims, and that the granter has the legal authority to sell it. The General Warranty Deed provides the highest level of protection to the buyer, as the granter is legally bound to defend the buyer against any claims to the property. It ensures that the buyer receives a clean and marketable title, giving them peace of mind in their ownership of the property. The term "Individual to Individual" indicates that the transfer of ownership is taking place between two individuals, rather than between a corporation or entity. This is a common type of real estate transaction where a property is being sold from one individual homeowner to another. The Reserved Life Estate in Granter refers to the right of the granter (seller) to retain a limited interest and live on the property until their death. This means that although the buyer will own the property, the granter has the right to occupy, use, and enjoy the property during their lifetime. Once the granter passes away, the property transfers fully to the buyer. Different variations or names for this type of deed may include: 1. Dallas Texas Special Warranty Deed — Individual to Individual with Reserved Life Estate in Granter: Similar to a General Warranty Deed but with limited warranties provided by the granter. 2. Dallas Texas Quitclaim Deed — Individual to Individual with Reserved Life Estate in Granter: This type of deed transfers whatever ownership interest the granter may have in the property, without any warranties or guarantees. 3. Dallas Texas Lady Bird Deed — Individual to Individual with Reserved Life Estate in Granter: Also known as an Enhanced Life Estate Deed, this type of deed allows the granter to transfer the property to someone else while reserving a life estate for themselves. It provides more flexibility and control for the granter during their lifetime. In summary, a Dallas Texas General Warranty Deed — Individual to Individual with Reserved Life Estate in Granter is a legally binding document that facilitates the transfer of ownership of a property from one individual to another, while reserving a life estate for the granter. It provides a high level of protection for the buyer and ensures a clean title. Other variations of this type of deed include Special Warranty Deed, Quitclaim Deed, and Lady Bird Deed.
