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General ConceptUnderstanding Real Estate Deeds General Warranty, Special Warranty, and Quit Claim in...

Understanding Real Estate Deeds General Warranty, Special Warranty, and Quit Claim in Florida

In this article, I will break down the key types of real estate deeds In Florida. That is to say, general warranty, special warranty, and quit claim deeds.

But first, let’s clarify

What a deed is.

Often confused with the term “title”, a deed is the tangible, legal document that transfers ownership. While title represents ownership rights, the deed is the paperwork that solidifies it. Think of deeds as the legal vehicles driving ownership from one party (grantor) to another (grantee).

General Warranty Deed:

Overview:

  • Most common and provides extensive guarantees.
  • Seller offers a binding promise (warranty) of clean title and authority to sell.

Key Guarantees:

  • Grantor is rightful owner with legal right to transfer title.
  • Property is free of liens, unpaid taxes, easements, etc.
  • Title is clear of defects, including errors in public records.
  • Grantor will defend title against all claims.

Special Warranty Deed.

Overview:

  • Also known as grant deed, limited warranty deed, or covenant deed.
  • Offers fewer protections than general warranty deed.

Guarantees:

  • Grantee has legal right to transfer ownership.
  • No incumbents during grantor’s ownership.
  • No outstanding claims or liens when grantee held title.

Quit Claim Deed:

Overview:

  • Offers the lowest level of protection but is common.
  • No warranties regarding the property.

Considerations:

  • No certification of property freedom from encumbrances.
  • No guarantee of grantee’s legal ownership or ability to transfer title.

Common Uses:

  • Transferring title between family members.
  • Property transfer to a trust.
  • Removing a spouse from title after divorce.
  • Cure small title defects (e.g., misspelled names).

Conclusion.

In summary, general warranty deeds provide the highest protection here in California, special warranty deeds offer limited protection, and quit claim deeds offer the lowest level of protection. General warranty deeds assure a clean title during and before the grantor’s ownership, special warranty deeds offer warranties only for the grantor’s ownership period, and quit claim deeds provide minimal protection.

For those navigating real estate transactions, explore here, the largest database of online documents. Access free and USA state-specific professional templates to kickstart your real estate deed today

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