If you’re like most people planning to make a real estate purchase, you want to know that the property you’re purchasing is actually owned by the seller, that it’s in reasonably good shape, and that the title is free of defects. Real estate transactions aren’t always as seamless or clean as buyers might like, though. A special warranty deed—sometimes referred to as a limited warranty deed—warrants only against defects during the seller’s time as property owner. It will not protect against title issues that arose prior to the time the seller took occupancy. Consequently, it offers less protection to buyers, and more protection to sellers, than a general warranty deed, which is the most common option for selling or buying a property.
Continue reading “What is a Special Warranty Deed?”
