I'm considering purchasing a piece of property in Florida and I have some concerns regarding the deed. The seller purchased unimproved land in April 2001 and obtained a warranty deed. Prior to this, it had a quit claim deed resulting from a transfer in May 1994. Before this, the property had a warranty deed from a sale in December 1988. I don't have specific details on the reason for the quit claim deed in between the two warranty deeds.

The seller improved the land and is offering it at a price of $250k with a warranty deed and insurable title. I have a concern due to the quit claim deed from 1994-2001. Is it possible to purchase a property with a warranty deed and not be guaranteed title? And if so, does title insurance absolutely protect my investment or merely attempt to defend my title? In short, could I end up losing the property and my money?

I'd be putting my life's savings into this property and would enormously value any input.

Title insurance will absolutely protect your investment. As long as you have a title insurance policy with no exceptions then you don't have to worry.

It would be a good idea to retain the services of a real estate attorney to handle this transaction for you.

Ok, there are many types of deeds, quick claim and warranty is only two of them. And more often quick claim deeds are done when the two parties know each other, it is being transferred between relitives and so on.

It could have had nothing but quick claim deeds and a tax sale deed, and the new owner sell it to you with a warranty deed, if they did a complete title search and were assured by a title company or real estate attorney that they deeds and titles were all up to date and clear.

Each owner determines normally how they wish to sell it to you. Warranty deeds promises that the seller will warranty certain things, ( but what things he warranties are listed in the deed) not all warranty deeds give you the same rights. So it is the title insurance that really gives you your protection, so it is not the real concern over type of deed, as long as you have a complete title search done, and then get insurance for it.

Talk to the Title insurance company with your concerns, and look at the policy to see what it insures. Is the time you are concerned about covered? The type of concern you have? If not, get a different policy...

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Originally Posted by Fr_Chuck

Ok, there are many types of deeds, quick claim and warranty is only two of them. ...

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"Quick claim"? Don't you mean "quit claim"?

Jocelyn and AKlawyer, please take note of the dates of the posts you're replying to. :)