![]() ![]() In Florida, a Special Warranty Deed is most often used to transfer commercial properties, and while it is available in a residential transaction, it is uncommon. Special Warranty Deeds are considered the mid-tier Deed for ownership, second to the Warranty Deed. This particular type of Deed guarantees that there are no defects or problems with the title during the time period grantor’s/seller’s ownership but makes no promises about the condition of the title before the seller owned the property. The general Warranty Deed is considered the top tier Deed for ownership of a property.Ī Special Warranty Deed transfers limited warranty of title to the grantee. The general Warranty Deed is the most common type of Deed to transfer residential property in Florida and is most likely the type of Deed that you will find at the closing table of a home purchase or sale. Each of these Deeds have different affects that come with each of these Deeds, and it is important to know when receiving a property what type of title you will be receiving.Ī Warranty Deed provides a full warranty of title that extends all the way through the chain of title, including the period before the grantor/seller owned the property. There are five (5) main types of Deeds in Florida that will be addressed in this article: (1) Warranty Deed (2) Special Warranty Deed (3) Quitclaim Deed (4) Life Estate Deed and the (5) Enhanced Life Estate Deed (Lady Bird Deed). Each of these deeds have a diverse range of conveyance, and depending on your objectives, you will want to narrow it down to the one that matches your goals. The types of deeds we see most often are the general warranty deed, the special warranty deed, the quitclaim deed, and the ladybird deed. The different types of deeds exist to account for what the grantor can convey, what the grantor wants to convey, and what warranties the grantor wants to be encompassed within. In this way, a deed is a physical item that you must have after you purchase property. The title is a concept, whereas the book is something physical. You can own a physical copy of a book, but you cannot own a physical copy of the title. One illustration people use to understand this concept is the idea of owning a book. What is the Difference Between a Deed and Title?Ī deed is a physical document that conveys ownership of a property, while a title refers to the concept of ownership rights. That is why there are different types of deeds that can accomplish a variety of objectives. You may need the property to transfer in a specific way. As you may expect, what sounds like a simple transference can become overtly complicated. In common law, a deed is any legal instrument in writing which passes, affirms, or confirms an interest, right, or property and that is signed, attested, delivered, and in some jurisdictions, sealed. Contrary to popular opinion, the title to the property is not conveyed by the Mortgage in Florida (the Mortgage creates a lien on the property). In Florida, a Deed is required to transfer ownership of a piece of property, regardless of whether that property consists of buildings or vacant land. First Party Insurance Claims & Disputes.Misdemeanor Criminal and Criminal Traffic. ![]() Everything You Need to Know About Bankruptcy.In other instances, a grantee should be wary of quitclaim deeds because the grantor is making no warranty that he has title and the grantor may later be found not to have any actual title to convey thereby invalidating any interest claimed by the grantee. The quitclaim deed is often used as a type of “corrective deed” to clear up possible defects in title the grantor relinquishes any interest that the grantor may still have in the land left because of a defect in a prior conveyance. There is no warranty from the grantor, but merely transfers whatever interest the grantor may have in the land described. Like the general warranty deed, the warranty is not implied in the special warranty deed and must be expressly stated in the document.Ī Non-Warranty Deed, also referred to as a Quitclaim Deed, is one that purports to convey only the grantor’s present interest in the land being conveyed, if the grantor has any interest. Unlike the general warranty deed, the special warranty deed’s warranty does not extend to defects potentially made by prior title holders. The warranty under this deed is limited only to those title defects that may have arisen by, through or under the grantor. A Special Warranty Deed is one in which the grantor warrants and guarantees to his grantee that the title he is conveying is free from any defects or encumbrances that have arisen since the grantor acquired the title. ![]()
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