What Is a Statutory Warranty Deed on Your Home?
Statutory warranty deeds are shortened warranty deeds, which promise that the party giving the deed owns good title to the property. Specific questions about the legal aspects of statutory warranty deeds should go to an attorney.
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General Warranty Deed
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In a general warranty deed, the grantor makes warranties of title. These are promises that his title to the property is valid, and that neither he nor any previous owner has transferred any part of the title to another party, unless the deed discloses the transfer. Typically, any enforceable warranties of title must be explicitly stated in the deed.
Statutory Warranty Deed
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Only some states' laws allow statutory warranty deeds. The deed conveys the same legal protections as a general warranty deed, but does not explicitly state the warranties of title, as a general warranty deed does.
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Abbreviation
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Forms of statutory warranty deed vary by state. Some may reference the warranties of title, while others may contain shortened forms of the warranties. But no matter the form, a valid statutory warranty deed has the same effect as a general warranty deed: should the grantor's title prove to have problems, the party receiving the statutory warranty deed can sue the grantor for breach of the warranties.
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