This form is a Special Warranty Deed where the grantor is an individual and the grantee is an individual.
A special warranty deed is a legal document used for transferring real estate property ownership from one individual to another in League City, Texas. It differs from a general warranty deed, as it only provides limited warranties or guarantees for the property's title during the period when the current owner held the property, but not before. In League City, Texas, there are a few variations of special warranty deeds available for individual-to-individual transfers. These include: 1. General Special Warranty Deed: This type of special warranty deed guarantees that the granter (current owner) has not done anything during their ownership to impair the title, except for the previously mentioned limitations. It ensures that the grantee (new owner) will not face any legal disputes or claims arising from the granter's actions. 2. Special Warranty Deed with Carve outs: This form of special warranty deed includes specific exclusions or "carve outs" that limit the granter's warranties even further. Carve outs can pertain to certain defects or claims existing before the granter's ownership, such as restrictions, liens, or encumbrances mentioned explicitly in the deed. 3. Special Warranty Deed in Lieu of Foreclosure: This special warranty deed is typically used in cases where a property owner is experiencing financial distress and cannot fulfill their mortgage obligation. In this scenario, the property owner transfers ownership to the lender instead of going through a foreclosure process. The lender promises to provide a specialized warranty deed to the new owner after acquiring the property. 4. Special Warranty Deed with Limited Title Guarantee: This variation of a special warranty deed is often used in the case of sales involving distressed properties or real estate auctions. It provides limited warranties or guarantees only concerning issues created by the granter themselves and does not extend back to prior owners' actions. Overall, special warranty deeds in League City, Texas, are designed to provide some level of assurance to the purchasing party in terms of the property's title. It is important to consult with a qualified real estate attorney or expert to fully understand the implications and specific provisions within any special warranty deed before entering into a property transfer transaction.A special warranty deed is a legal document used for transferring real estate property ownership from one individual to another in League City, Texas. It differs from a general warranty deed, as it only provides limited warranties or guarantees for the property's title during the period when the current owner held the property, but not before. In League City, Texas, there are a few variations of special warranty deeds available for individual-to-individual transfers. These include: 1. General Special Warranty Deed: This type of special warranty deed guarantees that the granter (current owner) has not done anything during their ownership to impair the title, except for the previously mentioned limitations. It ensures that the grantee (new owner) will not face any legal disputes or claims arising from the granter's actions. 2. Special Warranty Deed with Carve outs: This form of special warranty deed includes specific exclusions or "carve outs" that limit the granter's warranties even further. Carve outs can pertain to certain defects or claims existing before the granter's ownership, such as restrictions, liens, or encumbrances mentioned explicitly in the deed. 3. Special Warranty Deed in Lieu of Foreclosure: This special warranty deed is typically used in cases where a property owner is experiencing financial distress and cannot fulfill their mortgage obligation. In this scenario, the property owner transfers ownership to the lender instead of going through a foreclosure process. The lender promises to provide a specialized warranty deed to the new owner after acquiring the property. 4. Special Warranty Deed with Limited Title Guarantee: This variation of a special warranty deed is often used in the case of sales involving distressed properties or real estate auctions. It provides limited warranties or guarantees only concerning issues created by the granter themselves and does not extend back to prior owners' actions. Overall, special warranty deeds in League City, Texas, are designed to provide some level of assurance to the purchasing party in terms of the property's title. It is important to consult with a qualified real estate attorney or expert to fully understand the implications and specific provisions within any special warranty deed before entering into a property transfer transaction.
