chickey
Feb 11, 2008, 05:26 PM
:confused: What is a Warranty Deed?
Fr_Chuck
Feb 11, 2008, 07:06 PM
http://www.paslc.org/Document/GeneralInfo/Types%20of%20Deeds.pdf
Property Deeds - Warranty, Grant, Quitclaim - Property Deeds to Transfer Title (http://homebuying.about.com/od/titleinsurance/qt/REdeeds.htm)
Warranty Deeds
Warranty deeds are used all over the United States but are more common to the Midwest and Eastern states. They are very similar to grant deeds with one main exception: grant deeds contain two guarantees but warranty deeds contain three guarantees:
The grantor states that the property has not been sold to anybody else.
The grantor states that the property is not burdened by any encumbrances apart from those the seller has already told the buyer about.
More important, the grantor will warrant and defend title against the claims of all persons. This means the grantor is guaranteeing the grantee that title is free of any defects that may affect the title, even if the defect was caused by a prior owner.