A warranty deed is one of the most buyer-friendly real estate legal documents out there. It ensures that you hold a clear title to a property with no outstanding liens or mortgages.
You should always use a warranty deed when you transfer property. It will make the transaction go much more smoothly and devoid of unwanted surprises.
Definition
A Free Warranty Deed – Ziji Legal Forms is a property law document that transfers ownership rights of real estate between a seller (grantor) and buyer (grantee). It also guarantees the grantor has clear title to the land or property being transferred.
It is not a substitute for the legal protections offered by title insurance. However, it can be a more cost-effective and stress-free alternative.
There are many types of warranty deeds, and each provides varying levels of buyer protection. General warranty deeds offer the most general insurance, while special warranty deeds only provide a limited amount of buyer protection.
A warranty deed is a legal document that transfers property between a seller (grantor) or owner-to-be and a buyer (grantee). It can be filled out either through an attorney or online (less expensively) using a free deed template. It should include information about the property to be transferred, the identities of both parties, their addresses, and a description of the property itself.
Purpose
The purpose of a Free Warranty Deed – Ziji Legal Forms is to guarantee that the seller has clear title to the property. This assures the buyer that he or she will not be responsible for any liens, claims, or encumbrances from previous owners of the property.
The warranty deed also includes a detailed description of the property and words of conveyance that show the seller is granting the property to the buyer. The deed should also include proof of consideration, such as the amount of money that was paid for the property.
There are two main types of warranty deeds – general and special – that offer slightly different standards as to the extent of the warranties provided. However, the most important factor to keep in mind is that both types of deeds provide a warranty against liens and other encumbrances for the time that the owner held the property.
Signing
Signing a Free Warranty Deed – Ziji Legal Forms is a necessary step in the process of purchasing or transferring property. Without it, you could be left with unwanted surprises.
The document should be signed in front of a notary public and recorded with the county office that handles recording of property documents. This ensures that you legally own and claim the property.
This document should also have an accurate legal description of the property, a statement of consideration, and words of conveyance that the seller is granting the land or property to the buyer.
This document should be filed with the local taxing authority to pay any real estate taxes that may be due for the property. This can be done by submitting an original Real Property Transfer Report (RP-5217) or paying the estimated property tax online.
Filing
A free warranty deed is a legal form that can be used to transfer property ownership. The form is designed to meet the needs of both parties involved in the transfer. It contains a legal description, is signed and witnessed by the grantor or seller, and shows proof of the amount of money paid for the property.
The process of filing a warranty deed is relatively easy and stress-free. Getting one is as simple as visiting your local realtor’s office or using an online template.
Once you have the forms completed, it is necessary to file them with your local land records office. This is usually called the County Recorder’s Office or Register of Deeds Office and must be done in order to ensure that they are legally binding.
