What is a warranty deed?
A warranty deed is a legal agreement between the buyer and seller pertaining to the title or ownership of the property. By having a warranty deed in place, you ensure that the seller is the rightful owner of the property that is being handed to the buyer. The warranty deed is designed to give the buyer peace of mind that a third party won’t step in and challenge the deal.
The seller can take comfort in the fact that the warranty deed prevents any prior discrepancies tied to the property from rearing their head. A general warranty deed covers the history of the property while a specialty warranty deed is more limited in scope.
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