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View Full Version : What does a warranty deed mean?


Shaneorock
Sep 26, 2009, 09:52 PM
I recently had a business partner file a Warranty Deed in just his name to A joint owned property with the original Deed Stating Joint rights of survivorship listing both of our names and I would like to know what this means?

ScottGem
Sep 26, 2009, 10:41 PM
A warranty deed guarantees that the title is free and clear.

If the property was originally titled as joint with right of survivorship in both your names, he can't change the title without both signatures.

LisaB4657
Sep 27, 2009, 05:52 AM
From what you've said here it sounds like your business partner transferred property he owned to himself and a new owner.

By using a warranty deed to make the transfer, he was guaranteeing to the new owner that title was clear and if there were any liens or other claims to the property he would be responsible for removing them.

If he transferred the property to the new owners as joint tenants with right of survivorship, that means that if one of the new owners dies, the other owner would receive all of his late partner's share and would then own 100% of the property. If he had not used joint tenants WROS then the new owners would be tenants in common and if one of them died, his share of the property would become part of his estate and his heirs would take over his share.