Special warranty deed
Special warranty deed is used during transfer of ownership of the real estate property. The transfer comes with guarantees by the seller that the property is free and clear of claims. General warranty deed is the most used document in that case. The special warranty deed is used if the warranty is only for the period when seller held title to the property. If any claims existed before the seller bought the property, there is no guarantee for them.
Special warranty deeds are used rather by commercial property owners who often buy and sell properties. In case of residential property most often general warranty deed is used, as it is safer for buyer.
- Asante, R., Renfro, B., & Steele, D. (2015). MORTGAGE RATE EFFECTS ON HOME SALES IN NORTH CAROLINA FROM 1998-2008. MUSTANG JOURNAL OF ACCOUNTING AND FINANCE VOLUME 7 (2015), 117.
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