What is a Grant Deed Used for?
A real estate owner uses a grant deed to transfer real estate, while providing a limited number of guarantees regarding his title to the property. Those with specific questions about use of a grant deed should ask an attorney.
Other People Are Reading
-
General Deed Uses
-
The general purpose of deeds is the transfer of real estate. The deed, once handed over, not only provides proof of the transfer, but also contains all information and conditions regarding the transfer.
Grant Deeds
-
Grant deeds, known as special warranty deeds in some jurisdictions, typically contain promises by the grantor that he has taken no action to impair his title to the property (such as transferring the property to another party) that he has not disclosed to the other party.
-
Breach of Warranties
-
Deeds are contracts. Should the grantor breach his promises in the deed, the new owner of the property can take legal action against him for damages.
Warranty Deed Contrasted
-
Grant deeds only cover the grantor's actions, and therefore provide limited title protection. In a general warranty deed, by contrast, the grantor not only promises that he has not impaired property title, but also promises that no prior owner of the property has done so before the property came to him.
-
