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general warranty deed

   Also found in: Legal 0.01 sec.
general warranty deed

An instrument transferring ownership of real property, and which warrants—promises—that the seller has good title with no adverse claimants and that the seller will defend the title against other parties should that prove necessary. Contrast with special warranty deed, which simply promises that the seller has not done anything to cause a problem with the title. Contrast also with quitclaim deed, which makes no promises at all, but simply transfers any interest the seller might have, if anything.



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A general warranty deed provides a guarantee of good title not only by the seller, but back through the chain of title through all the previous owners of the property.
If you own real estate and sell it to a buyer under a general warranty deed, you can be liable to the buyer years later for some defect in the title that you didn''t even know about at the time you sold him the real estate, and you could end up having to pay the buyer up to the amount that he originally paid for the real estate, or in some cases the value of the land if it is more than what the buyer actually paid.
General Warranty Deeds are the most common type of property deeds.
 
 
 
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