This form is a Special Warranty Deed where the grantor is an individual and the grantee is a city.
A Collin Texas Special Warranty Deed for Individuals to a City is a legal document that transfers the ownership of real estate property from individuals to a city entity, guaranteeing specific protections to the buyer. This specialized type of warranty deed is designed to safeguard the city's interest in the property, especially when it comes to potential title issues or defects. In Collin County, Texas, there are three different variations of Special Warranty Deeds that individuals can use when transferring ownership to a city: 1. Collin Texas Special Warranty Deed with Limited Covenants: This type of deed provides limited warranties, meaning that the seller guarantees they have not encumbered the property during their ownership, except for any liens or encumbrances specifically mentioned in the deed itself. It grants the city limited protection against any defects arising from the seller's actions only. 2. Collin Texas Special Warranty Deed with Further Assurances: This deed goes one step further by not only providing limited warranties but also promising the seller will take any necessary actions in the future to rectify any potential title defects or encumbrances that may occur during their ownership. It offers an additional level of protection to the city against any potential issues with the property's title. 3. Collin Texas Special Warranty Deed with General Covenants: This type of deed offers the highest level of protection to the city. It guarantees that the seller has full legal ownership of the property and provides general warranties, which cover any title defects or encumbrances that occurred both before and during the seller's ownership. The city is protected against any claims that may arise from the property's history. Regardless of the specific type, a Collin Texas Special Warranty Deed for Individuals to a City encompasses several crucial elements. Firstly, it includes a detailed description of the property being transferred, such as its legal description and any relevant identification numbers. The deed also identifies the parties involved, including the individual seller(s) and the city as the buyer, along with their contact information. Furthermore, the deed will mention the consideration, or the agreed-upon value, for which the property is being sold to the city. It may also specify any agreed-upon contingencies, such as inspections or additional documents that need to be exchanged before the transfer is complete. Additionally, the deed needs to be properly signed and notarized by all parties involved to make it legally binding. In summary, a Collin Texas Special Warranty Deed for Individuals to a City is a specialized legal instrument used to transfer property ownership to a city. It offers various levels of protection to the city buyer, depending on the type of deed chosen. These deeds, including the Limited Covenants, Further Assurances, and General Covenants, ensure that the city's interests are safeguarded and protect against potential title issues or encumbrances.
