What is a Warranty Deed?

A warranty deed is a legal document that transfers ownership of real property from the seller to the buyer. It serves as proof of ownership and is often required by local governments.

Types of Warranty Deeds

• A warranty deed can be either:
  1. Physical Warranty Deed: This type of deed is a physical document that transfers ownership of the property when the original deed is signed and delivered to the buyer.
  2. Negotiable Warranty Deed: This type of deed is an electronic or digital version of the original warranty deed. It can be transferred via email, online platforms, or other digital means.

How to Navigate Warranty Deeds During Real Estate Transactions

To navigate warranty deeds during real estate transactions, it's essential to:

1. Verify the seller's ownership of the property before making an offer.
2. Understand the types of warranty deeds and their requirements.
3. Research local laws and regulations regarding warranty deeds in your area.
4. Communicate with the seller and any other parties involved to ensure a smooth transfer process.

Things You Should Know About Warranty Deeds

• A warranty deed is not the same as a title report.
• The warranty deed does not cover repairs or maintenance of the property.
• A warranty deed can be cancelled if it's deemed to be null and void.
• It's crucial to review and understand the terms and conditions of the warranty deed before signing.