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A general warranty deed or warranty deed is one where the seller guarantees there are no title defects, that she/he is the owner of the land and has the right to sell it. A warranty deed guarantees that there are no encumbrances except those recited in the deed. The deed itself is a warranty to that effect.
A special warranty deed does not guarantee the title of the grantor is free of defects. A defect may include a missing interest in the back title. Also, the warranties under a special warranty deed are set by statute and vary from state to state.
A quitclaim deed only conveys whatever title the grantor has, if any. A person quits all claim to a property in question. It delivers no guarantees or warrantees. It offers the least amount of protections. A quitclaim deed is often used when a party conveys their interest pursuant to a divorce decree, or when the grantor is not certain of the title to the property.
The best deed for a grantee is a general warranty deedand every buyer of real property should have a comprehensive title examination performed by a professional prior to accepting delivery of any deed.
What else can I help you with?
Difference between a special warranty deed and a general warranty deed?
Both general warranty deeds and special warranty deeds can be used for real estate sales where a property is transferred between parties unfamiliar with each other. The difference is the extent of the coverage of the warranty.
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In Colorado what happens to your home if you die and your spouse is an owner by a Quitclaim Deed but is not named on the General Warranty Deed?
Assuming that one party acquired the land by virtue of a warranty deed and then conveyed it to himself or herself and spouse by a quitclaim deed, that would be effective as long as the deed was drafted properly. You need to check the tenancy created in the most recent deed. If it is a joint tenancy and one owner dies the survivor owns the property automatically. Deeds should always be drafted by a professional. Errors made by non-professionals can be costly to correct if they can be corrected.
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