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…
protection against title-related problems following a property sale. It is generally prepared by the seller, and should be signed by the current and new owner(s) of the property.
Specifics:
In order to fill out a general warranty deed, you should have access to the current deed, as well as current tax records related to the property.
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
seller.
Some states have specific requirements for what must be included in a warranty deed, so be sure to either consult a local attorney or use a template that complies with the laws in your state.
Next steps:
The seller must sign the general warranty deed in front of a notary in order for it to be legally binding. Some states may require one or more witnesses to also sign the deed in the presence of a notary.
Once the seller (and witnesses, if required) have signed the deed, it must be filed with the county land records office. Depending on the state and county in which the deed is being filed, this office may be called the Land Registry Office, Register of Deeds, or Recorder's Office. It is usually located in a county courthouse.
There may be a small fee associated with filing the deed — typically $15 or less. The transfer of ownership is not complete until the deed has been filed.
CTA
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…
protection against title-related problems following a property sale. It is generally prepared by the seller, and should be signed by the current and new owner(s) of the property.
Specifics:
In order to fill out a general warranty deed, you should have access to the current deed, as well as current tax records related to the property.
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
seller.
Some states have specific requirements for what must be included in a warranty deed, so be sure to either consult a local attorney or use a template that complies with the laws in your state.
Next steps:
The seller must sign the general warranty deed in front of a notary in order for it to be legally binding. Some states may require one or more witnesses to also sign the deed in the presence of a notary.
Once the seller (and witnesses, if required) have signed the deed, it must be filed with the county land records office. Depending on the state and county in which the deed is being filed, this office may be called the Land Registry Office, Register of Deeds, or Recorder's Office. It is usually located in a county courthouse.
There may be a small fee associated with filing the deed — typically $15 or less. The transfer of ownership is not complete until the deed has been filed.
CTA