Editable Warranty Deed Template [PDF & Word]
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Warranty Deed Overview
A Warranty Deed is an important document for transferring real estate property from one person to another, helping to protect the buyer. The paperwork guarantees that the person selling the property owns the land they are selling and that there are no liens or encumbrances on the property. A Warranty Deed also gives the buyer legal recourse in case any issues arise with the title after the sale.
Writing this document before your next property purchase will grant you the highest confidence and protection possible. You must follow all requirements for a valid warranty deed, as any errors or omissions could lead to legal complications. That means ensuring all names are spelled correctly, and all pertinent information is on the page. We’ll walk you through the project step by step and help provide peace of mind for both parties involved in a real estate transaction.
Key Takeaways:
- A Warranty Deed transfers property with an assurance that the seller has rights to sell.
- You need a Warranty Deed when you are buying or selling a property, or transferring ownership of a property.
- Components of a Warranty Deed include the names and addresses of the buyer and seller, the legal description of the property, and any relevant terms and conditions of the sale.
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What is a Warranty Deed?
When Do I Need a Warranty Deed?
- Buying or selling a property: If you are buying or selling a property, Warranty Deeds ensure that the title is clear of any liens or encumbrances.
- Transferring property to a trust: If you want to transfer your property into a trust, a Warranty Deed can be used to transfer ownership and ensure that the trust has clear title to the property.
- Adding a contingency: If the seller has agreed to perform a specific action or meet certain conditions before the sale becomes official, a Warranty Deed can get that agreement in writing.
- Adding or removing a co-owner: If you want to add or remove a co-owner from the title of your property, a Warranty Deed can be used to transfer ownership and ensure that the title is clear.
- Refinancing a mortgage: If you are refinancing your mortgage, a Warranty Deed may be required to transfer ownership of the property to the new lender and ensure that the title is clear.
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Components of a Warranty Deed
- Grantor: The person or party who is selling or transferring the property
- Grantee: The person or party who is buying or receiving the property
- Property Description: A detailed description of the property being transferred, including its legal description and any relevant boundaries, structures, or features
- Title: A statement that the grantor is legally authorized to sell or transfer the property and that there are no liens or encumbrances on the title
- Warranties: Promises from the grantor that they have clear title to the property, that there are no undisclosed defects or issues, and that they will defend the title against any future claims or challenges
- Signatures: Both the grantor and grantee must sign and date the warranty deed for it to be legally binding.
What are the Advantages of using a Warranty Deed fillable template?
Consequences of not Having a Warranty Deed
Short on Time?
Read the Highlights:
Failure to include info can render deed invalid/unenforceable.