warranty deed


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Warranty Deed

In real estate, a deed providing a number of guarantees from a seller to a buyer. A warranty deed contains the promise that the seller's title is legitimate and no non-disclosed encumbrances exist. It may be passed to the buyer (and the buyer may in turn pass it to someone else). Generally, it also contains the promises that the seller will resolve any remaining problems and he/she will come to the buyer's aid if a competing claim is made. See also: Title search, Clear title, Quitclaim deed.

warranty deed

A deed containing promises by the seller regarding the quantity and quality of title being transferred to the buyer and some of the responsibilities of the seller if the warranties are breached. A special warranty deed gives assurances that the seller has not done anything to diminish the title but makes no promises about things that happened before the seller took title or things that are outside the seller's control. A general warranty deed gives the most protection to a buyer,and includes both present and future covenants as follows:

• Present covenants:
• Seisin, meaning the seller (grantor) has legal title
• Right to convey, meaning there are no restrictions on the right to convey
• Against encumbrances, meaning there are no other claims such as liens, easements, or other similar matters

• Future covenants:
• Covenant of warranty, being a promise to indemnify the grantee for any damage suffered as a result of the title being defective. Some courts require an actual dispossession of the grantee before the covenant comes into play, and others do not. Some allow the attorneys' fees paid by the grantee as an element of damage, and others do not.
• Quiet enjoyment, that grantee will be able to enjoy the estate without adverse claims from other parties.
• Further assurances, that grantor will take any steps necessary in the future to defend the title or perfect grantee's title if there is a technical defect and a corrective deed required, for example.

References in periodicals archive ?
took the form of warranty deeds and, in New Haven at least, were
On the warranty deed, Ferguson filed with the Pulaski County Clerk's Office for the home, he and his wife "certified under penalty of false swearing" that "the legally correct amount of documentary stamps have been place on this instrument.
Former Arkansas Razorbacks football Coach Bobby Petrino has sold his Fayetteville mansion for $1 7 million, according to a warranty deed filed June 18 in the Washington County Circuit Clerk's office.
The property was transferred to MGC by Warranty Deed on December 18, 2002.
The agreed purchase price of $500,000 was received by Chester, and the warranty deed signed and returned to the company for filing with the Juab County Recorder.
The warranty deed may be issued by a bank or branch of a foreign bank (the Bank).
The corporate warranty deed was filed in the Washington County Circuit Clerk's office June 1.
Private Road Notices are recorded with Warranty Deed upon property transfer.
The warranty deed and Affidavit as to Debts and Liens were "wet-signed" to conform to Wichita County requirements.
The property's sellers, Jack Wardlaw of Pooler Marketplace and South Godley Enterprises, have inked a limited warranty deed with Frank Marchisello, executive vice president and CFO of Tanger Outlets.
According to a special warranty deed, Glen Acquisitions LLC of North Kansas City, Mo.