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A warranty deed is a type of deed where the grantor (seller) guarantees that they hold clear title to a piece of real estate and has a right to sell it to the grantee (buyer), in contrast to a quitclaim deed, where the seller does not guarantee that they hold title to a piece of real estate. A general warranty deed protects the grantee against ...
A real estate license is an authorization issued by a government body to give agents and brokers the legal authority to represent a home seller or buyer in a real estate transaction. Real estate agents and real estate brokers are required to be licensed when conducting real estate transactions in the United States and in a small number of other ...
An express warranty is expressly stated (typically, written); whether or not a term will be implied into a contract depends on the particular contract law of the country in question. Warranties may also state that a particular fact is true at a point in time, or that the fact will continue into the future (a "continuing warranty").
The warranty deed adds the additional guarantee that the grantor will defend the title against any third-party claim. The quitclaim deed is also sometimes used, although this document is most often used to disclaim any interest in a property rather than selling a property that one owns.
Comparing home warranty vs. home insurance When deciding whether to purchase homeowners insurance vs a home warranty, understanding the distinct features of each and what coverage is provided can ...
Implied warranty, presumed assurances made in the sale of products or real property; Industry Loss Warranties, insurance protection against an event to an entire insurance; Warranty deed, real estate deed giving assurance of clear title and right to sell; Warranty tolling, extending a product warranty period
Usage varies by state, and in Massachusetts quitclaim deeds include statutory warranties (similar to “special warranty deeds” in other states) and are the norm rather than the exception. [12] Execution of a quitclaim deed is relatively simple, and may require little more than the signature of the parties.
The warranty may also set out whether the company will repair termite damage or just treat the problem again. Notably, some termite warranties can be passed from one homeowner to another, while ...