General Warranty Deed | Propertylogy

General Warranty Deed

By on October 5, 2018

A general warranty deed is a deed in which grantor promises a good title to the grantee and would guarantee protection against other claimants to the title.

This can help a seller of a house close the sale when the buyer has reservations about how clean the title of the property really is.

By issuing such guarantees, if the buyer encounters other legitimate claimants to the property in future, the buyer can claim restitution from the original seller since the deed has warranties against all defects in the deed.

In contrast, a quitclaim deed refers to a deed in which a seller offers no warranties to the title at all. And any future problem arising from defects will be the full responsibility of the buyer.

While a seller offering a general warranty deed can provide peace of mind to a buyer, title insurance should still be purchased to be pragmatic.

This is because there’s no certainty that the original seller would have the financial means to offer that protection in future. And having an insurer behind you will be a safer backup plan.

You May Also Like...

hair1 eye1 abs1
Latest Singapore home loan rates
Hidden items that bring up mortgage costs
Hiring a competent agent
How to burn more calories in the office

Send this to a friend