bargain and sale deed

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Bargain and Sale Deed

A title used by a seller to transfer a piece of real estate to a buyer without guaranteeing the validity of the title. That is, a bargain and sale deed does not ensure that the seller has the right to sell the property. See also: Quitclaim deed.

bargain and sale deed

A deed that contains only the name of the seller,the name of the buyer,a recital of consideration,a description of the property,and words of conveyance is a bargain and sale deed.In it,the seller makes no warranties regarding good title or any other matters,but simply sells to the purchaser whatever interest the seller might have had. Typically used in two situations: (1) When the seller obtained the property by law and is not in a position to make warranties because of lack of knowledge and lack of prior control.This would include deeds by administrators of estates, deeds from the IRS after a tax sale,or deeds from a lender after a foreclosure.(2) The second frequent instance is when someone is asked to sign a deed in order to clear up title defects that might or might not have given the seller some rights in the property.The seller is willing to give up any rights he or she might have but is not willing to issue any warranties that he or she owned anything at all. See quitclaim deed.

References in classic literature ?
During that term he was to be the property of his master, and as much a commodity of bargain and sale as an ox, or a joint-stool.
Poulterers' and grocers' trades became a splendid joke; a glorious pageant, with which it was next to impossible to believe that such dull principles as bargain and sale had anything to do.