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.
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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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
"The preceding chronology of events and judgments connected to the originally defined public square in 'Eugene City' demonstrate a steadily changing philosophy by Lane County and the city of Eugene about conditions and restrictions connected to the original warranty deeds of Charnel Mulligan and Eugene Skinner," Armstrong said.
When the home was sold last year, real estate watchers couldn't quite believe the warranty deed that indicated Ferguson received $5.1 million for the nearly 15,000-SF home.
Real estate watchers called baloney when Ferguson filed the warranty deed that indicated he received $5.1 million for the nearly 15,000-SF home.
Even though Ferguson and his wife, Deanna, represented on a warranty deed that they received $5.1 million for the home in the Valley Falls Estates neighborhood, some real estate watchers believe that Ferguson inflated the price on the deed so that it could be used to create comparative valuations for later transactions.
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 corporate warranty deed was filed in the Washington County Circuit Clerk's office June 1.
According to a special warranty deed, Glen Acquisitions LLC of North Kansas City, Mo., purchased The Glen at Polo Park Apartments at 6601 S.W.