![]() ![]() Covenant Against Encumbrances: the grantor promises that there are no encumbrances, such as liens on the property, other than those that have been previously disclosed.Covenant of Right to Convey: grantor's promise that they have not contracted to sell the property to another.Covenant of Seisin: that the grantor has good right of ownership in the property with the right to convey.The warranty deed includes the six traditional Covenants for Title or promises and assurances by the grantor to the grantee. A warranty deed is the most favorable type of deed as it provides full warranties from the grantor to the grantee.After the closing, the purchase contract merges with the deed and the buyer can only sue on the warranties contained within the deed. The different types of deeds include a warranty deed, special warranty deed, and quitclaim deed. A valid deed must be signed by the grantor and delivered to the grantee.Īdditionally, different deeds contain different warranties of title.For example, a sufficient statement of consideration may be “for Twelve Dollars and other good and valuable consideration.” The amount of consideration does not matter. Usually the consideration is money, but it could be for services or anything of value. Consideration is defined as something of value given for the deed. ![]() As a matter of contract law, a deed must have consideration to be valid. An affidavit or statement of consideration.The property’s legal description that adequately describes the property, generally with lots, blocks, metes, and bounds, and any other information describing the property.The names of the grantor and the grantee, and words of c onveyance such as “grant, convey, assign, transfer, and give,” any of which demonstrate the grantor’s intent to pass title to the grantee.Although different jurisdictions require different elements for a valid deed, the following elements are generally required: A valid deed for real estate must be in writing. In real estate transactions, a deed is usually delivered at closing. Recording is a way to protect title and ownership because it puts the public on constructive notice as to the buyer’s ownership. A deed transfers the title of an asset to a new owner, and it is usually recorded in the local county clerk’s office. A deed is a legal document that grants ownership to a piece of real estate or other property asset. ![]()
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