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Bargain And Sale Deed
A bargain and sale deed is basically a deed for transfer of title in which the grantor offers no warranties regarding good title to the grantee.
It typically contains information such as:
- Name of buyer and seller
- recital of consideration
- Property description
- Words of conveyance describing nature of transaction
This is as opposed to regular titles which are a lot more detailed.
While such practices can seem amusing to new property investors, there are some instances where they make perfect sense.
For example, when the seller had legitimately acquired the property (maybe through inheritance) and don’t have enough knowledge about it to make warranties regarding it. Or to correct title defects regarding the rights the seller has on the property.
Because the deed is an important piece of document whether you are an investor or home buyer, it is imperative that you seek the advice of a proper real estate attorney if there is ever any doubt.
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