Good Reasons To Obtain A Warranty Deed When Buying Realty ...

A real estate warranty deed has to be created any time realty is purchased or transferred. This agreement offers a written guarantee that the real estate does not have legal attachments such as collection judgments or IRS tax liens that would prevent the buyer from obtaining a clean title.

A warranty deed is categorized as either ?General? or ?Limited?. General real estate deeds cover the real estate from the date it was developed and includes information about each individual that has owned the realty since its inception.

Limited warranty deeds only shield Grantees against complications connected to the title that began during the period when the Grantor owned the property. If issues happened when the Grantor owned the property, the Grantee is not allowed to take legal action against the Grantor.

Realty deeds are necessary for documenting the transfer of real property no matter how the realty was obtained. A deed must be filed through the local court any time real estate is sold, transferred using a 1031 exchange agreement, or given through inheritance.

Realty deeds must to be filed within a set time period. Whenever deeds are not recorded on time the new owner forfeits their right to initiate legal proceedings against the previous owner if complications occur after the realty is transferred.

Both general and limited warranty deeds need to be filed at the County Recorder office in the county where the realty is located. It is advisable to work with a real estate lawyer to ensure deeds are legally-binding and filed in a timely fashion. There is a minimal fee for filing warranty deeds through the County Recorder?s office.

Soon after a real estate warranty deed is recorded it becomes a matter of public record. This can be beneficial for Grantees because they can examine records to track the history of possession. Public records can be viewed at local courthouses. A lot of states now provide the option to obtain public records online. Courts can provide a certified copy of warranty deeds for a nominal fee.

Obtaining a property warranty deed is a crucial element for every type of real estate transaction. California real estate investor, Simon Volkov shares additional information about real estate deeds, along with tips for buying houses, 1031 exchanges, real estate investing, and creative financing strategies via his investing and personal finance website at SimonVolkov.com.

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