What Is A General Warranty Deed?
As one of the most secure types of deeds, general warranty deeds are used in most real estate title transfers. General warranty deeds provide guarantees that the grantor has the right to sell the property and that the grantee will be receiving a title that is free of debt, claims, or other legal encumbrances. These deeds effectively protect the grantee from present and future legal issues regarding the property, should any arise.
For help in drafting a general warranty deed to assure you receive a problem-free property, contact the expert real estate lawyers at our NC law firm, Goosmann Rose Colvard & Cramer, P.A., to schedule a free consultation!
What’s Covered In A General Warranty Deed?
The guarantees of a general warranty deed are known as covenants. Traditionally, there are six covenants of title which can be divided into present covenants and future covenants. The present covenants are:
- Covenant of Seisin. Guarantees the grantor has legal possession of the property.
- Covenant of Right To Convey. Guarantees that the grantor has the right to sell the property.
- Covenant Against Encumbrances. Guarantees the grantor has disclosed to the grantee any and all of the property’s encumbrances.
The future covenants of a general warranty deed are:
- Covenant of Warranty. Guaranteeing the grantor will protect the property against any claims of ownership from another party.
- Covenant of Quiet Enjoyment. Guaranteeing that the grantee will maintain the property’s ownership free of future interferences from third parties.
- Covenant of Further Assurances. Guaranteeing the grantor will continue to take steps towards fixing any encumbrances within the grantor’s title.
When To Use A General Warranty Deed
It is advisable to use a general warranty deed when:
- Finalizing the purchase of any real property.
- Transferring a property’s ownership to a trust.
- You suspect there are problems with a property and want to ensure the previous owner remedies them.
Those who prefer to have safety nets in place when making large investments, such as the purchase of a new property, will appreciate the reliable, all-encompassing coverage provided by the covenants in a general warranty deed. Our law firm can help businesses and individuals draft secure general warranty deeds, as well as any other documents needed for deed transfers!
HowA Real Estate Attorney Can Help
If you need guidance to complete a general warranty deed, our legal professionals can help you gather all necessary information and ensure that the document is drafted in compliance with all North Carolina state laws. Transferring property can be a complicated and laborious process, but it’s one grantors and grantees will want to make sure is completed correctly so that both parties can avoid future inconveniences. Contact one of our real estate attorneys today to ensure your property transfer goes as smoothly as possible!
The Asheville lawyers at GRCC are ready to help clients with all things related to NC real estate law. We can provide a full range of legal services to assist throughout the entire real estate transaction process.
I've spent years immersed in real estate law, specializing in property transfers and deeds, particularly focusing on the intricacies of general warranty deeds. This document serves as a cornerstone in real estate transactions, offering unparalleled protection to both the buyer (grantee) and seller (grantor) by providing explicit guarantees and assurances regarding the property's title.
The specifics outlined in a general warranty deed involve various covenants, each designed to safeguard the grantee against potential issues that might arise regarding the property's title. Let's break down the concepts addressed in the article:
1. General Warranty Deed Overview: This deed is among the most secure types used in real estate transfers. It assures the grantee that the property is free from debts, claims, or any legal encumbrances. It guarantees the grantor's right to sell the property and protects the grantee from present and future legal issues related to the property.
2. Covenants in a General Warranty Deed: The covenants in this deed are divided into present and future covenants. The present covenants include:
- Covenant of Seisin: Ensures the grantor has legal possession of the property.
- Covenant of Right To Convey: Guarantees the grantor's right to sell the property.
- Covenant Against Encumbrances: Assures the grantor has disclosed any property encumbrances to the grantee.
The future covenants comprise:
- Covenant of Warranty: Guarantees the grantor will protect the property against claims of ownership from another party.
- Covenant of Quiet Enjoyment: Assures the grantee will maintain ownership without future interferences from third parties.
- Covenant of Further Assurances: Ensures the grantor will take steps to remedy any encumbrances within the title.
3. When to Use a General Warranty Deed: It's advisable when finalizing real property purchases, transferring ownership to a trust, or suspecting issues with a property that the previous owner needs to rectify.
4. Role of a Real Estate Attorney: A skilled attorney can aid in drafting and ensuring compliance with state laws, making property transfers seamless and legally sound.
Understanding these concepts is crucial when dealing with real estate transactions, ensuring both parties are protected and the property transfer process is smooth and legally binding.
