| Warranty Deed |
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| CATEGORIES ABOUT WARRANTY DEED | |
| real property law | |
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A general warranty deed is a type of Deed where the Grantor (seller) guarantees that he or she holds Clear Title to a piece of Real Estate and has a right to sell it to the Grantee (buyer). The guarantee is not limited to the time the grantor owned the property—it extends back to the property's origins. A General Warranty Deed includes six traditional forms of Covenants for Title. Those six traditional forms of covenants can be broken down into two categories: ''present covenants'' and ''future covenants''. PRESENT COVENANTS ''Covenant of Seisin & Covenant of Right to Convey'' - Covenants that represent the seller's promise that he has title and possession and can validly claim both ''Covenant Against Encumbrances'' - Seller promises that there are no encumbrances, other than those that have been previously disclosed FUTURE COVENANTS ''Covenant of Warranty and Covenant of Quiet Enjoyment'' - Covenants that represent seller's promise to protect the buyer against anyone who comes along later and claims paramount title to the property ''Covenant of Further Assurances'' - If seller omitted something required to pass valid title, seller promises to do whatever is necessary to pass title to buyer Note - Not all states recognizes the Covenant of Further Assurances (e.g. Ohio ) Most people hire someone to perform a Title Search to determine if there are defects that must be resolved before they purchase real property. They can also purchase Title Insurance , which covers many types of losses that occur if problems are discovered later, but title insurance raises a number of other legal issues. |
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