What is a special warranty deed in Texas divorce?
What is a special warranty deed in Texas divorce?
The Special Warranty Deed allows the party giving up title to the house (Grantor) to assign all legal title in the house to the party receiving the property (Grantee). The Special Warranty Deed grants the Grantee any and all interest in the property that the Grantor had.
Is a warranty deed the same as a title?
Most property sales make use of a warranty deed. Paired with title insurance, your warranty deed guarantees that the “grantor” is the rightful owner and transfers these rights and title to you as the “grantee” or new owner of the property. With a warranty deed, your title is clear. Our title agents can help.
Who benefits the most from recording a warranty deed?
grantee
Does an attorney have to prepare a warranty deed?
A deed, of course, is a legal document representing property ownership. But you might be wondering if an owner can transfer a deed to another person without a real estate lawyer. The answer is yes. Parties to a transaction are always free to prepare their own deeds.
Can a quit claim deed be converted to a warranty deed?
They’re as effective as a warranty deed to transfer title, but only if the title is good. A quitclaim deed can convey title as effectively as a warranty deed if the grantor has a good title when the deed is delivered.
Can a warranty deed be revoked?
A warranty deed can be revoked. In most situations, the person signing the deed needs the cooperation of the person who received the deed to revoke it. If the deed was prepared for a property transfer as part of a typical sale, though, you probably will have to take legal action to revoke the deed.
Does a warranty deed have to be notarized?
Does a Warranty Deed have to be notarized? Yes, in order for a Warranty Deed to be valid, it must be signed and stamped by a notary public before it can be filed with the County Clerk’s Office.
Whats the difference between a quit claim deed and a warranty deed?
Quitclaim Deeds are used when the transfer of ownership in the property does not occur as the result of a traditional sale. Under a warranty deed, if it turns out that the property is not what the seller promised or there’s an uncleared lien or other block to the title, the buyer can sue the seller and recover damages.
Is it hard to sell a house with a quit claim deed?
It’s an inexpensive way to transfer property, and, while an owner of a property acquired by quitclaim deed can’t sell it without a clear title, the property can be sold later after a warranty deed is obtained. You can then buy title insurance and, with legal title, transfer the property through a warranty deed.
