Explain How To Create A General Warranty Deed
How to create a general warranty deed
Intro paragraph:
A warranty deed serves several purposes; it documents the transfer of a property title in exchange for a mutually agreed-upon price, and guarantees that the seller has the right to sell the property, free of liens or other debt.
It is important to distinguish general and special warranty deeds. A general warranty deed covers the entire history of the property, whereas a special warranty deed only covers the period during which the property was owner by the seller.
Other names:
A general warranty deed may also be referred to as grant deed or a full warranty deed. It is sometimes referred to simply as a warranty deed, however this term may also refer to a special warranty deed, so specificity is important.
Who should use this form?
This document should be used by buyers and sellers who want …show more content…
These documents will provide the information necessary to complete the document. The warranty deed should include the following information:
The property address and parcel number (if applicable) and a legal description of the property, including measurements, dimensions, and boundaries. This information can be copied from the seller's deed, or from property tax records. Names and physical addresses of all buyers (or grantees) and sellers (or grantors). The seller's name should match the existing deed or tax documents. If the buyers/grantees are tenants-in-common, meaning they will each own a percentage of the property, that percentage should be indicated on the deed. The county and state where the seller will sign the general warranty deed. The amount of money being exchanged, if any.
If applicable, the deed should also include the details of any oil, gas, or other mineral rights or any other ownership interest being retained by the
Intro paragraph:
A warranty deed serves several purposes; it documents the transfer of a property title in exchange for a mutually agreed-upon price, and guarantees that the seller has the right to sell the property, free of liens or other debt.
It is important to distinguish general and special warranty deeds. A general warranty deed covers the entire history of the property, whereas a special warranty deed only covers the period during which the property was owner by the seller.
Other names:
A general warranty deed may also be referred to as grant deed or a full warranty deed. It is sometimes referred to simply as a warranty deed, however this term may also refer to a special warranty deed, so specificity is important.
Who should use this form?
This document should be used by buyers and sellers who want …show more content…
These documents will provide the information necessary to complete the document. The warranty deed should include the following information:
The property address and parcel number (if applicable) and a legal description of the property, including measurements, dimensions, and boundaries. This information can be copied from the seller's deed, or from property tax records. Names and physical addresses of all buyers (or grantees) and sellers (or grantors). The seller's name should match the existing deed or tax documents. If the buyers/grantees are tenants-in-common, meaning they will each own a percentage of the property, that percentage should be indicated on the deed. The county and state where the seller will sign the general warranty deed. The amount of money being exchanged, if any.
If applicable, the deed should also include the details of any oil, gas, or other mineral rights or any other ownership interest being retained by the