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Forums » REOs » Limited or Special Warranty Deed

Limited or Special Warranty Deed Subscribe to Limited or Special Warranty Deed

6 posts by 5 users

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C. S.


Forum_avatar_avatar-cynthia

Icon_minipost Mar 04 '07, 10:21 PM

Hi,

I'm new to the board. I discovered it last night and probably read the entire REO section.

If I get a Limited or Special Warranty Deed on a bank owned property, will my title insurance be sufficient protection? What kinds of things should I be concerned about with a Limited or Special Warranty Deed?

Edited: 06/26/2010 at 03:24AM


Frank Adams

· Loveland, CO


Forum_avatar_avatar-all_cash

Icon_minipost Mar 04 '07, 11:30 PM

Well cynthia; I'm not sure which state you're in, but here in TX there are two types of Warranty Deeds, General and Special. General Warranty Deeds are used when a SELLER conveys a property, either as a principle or an heir or assign. Special WDs are used when a TRUSTEE conveys, and/or coming out of a Trustee's Sale. Both are equally valid but make sure that they provide you with Title Insurance, at THEIR cost.

all cash

Edited: 06/26/2010 at 03:24AM


C. S.


Forum_avatar_avatar-cynthia

Icon_minipost Mar 04 '07, 11:42 PM

Thanks for the quick reply. The property is in SC. They are paying for the title insurance.

Edited: 06/26/2010 at 03:24AM


Rod Coleman

Real Estate Investor · Chester, VA


Forum_avatar_avatar-keepitmovin

Icon_minipost Sep 06 '08, 09:40 AM

what is an warranty deed

Edited: 06/26/2010 at 05:51AM


Jon Holdman

Real Estate Investor · Denver, Colorado


Forum_avatar_avatar-wheatie
ModeratorPro

Icon_minipost Sep 06 '08, 09:50 AM

Its the type of deed normally used to convey ownership of a property. The grantor (seller) is guaranteeing (i.e., warrantying) the deed is good.

Edited: 06/26/2010 at 05:51AM

Small_flying-phoenixJon Holdman, Flying Phoenix LLC


Joe Barnwell

Real Estate Agent · Howell, Michigan


Forum_avatar_avatar-apexrtx

Icon_minipost Sep 14 '08, 05:58 AM

Around my area, most banks are delivering title via a Covenant Deed vs. a warranty deed.

Edited: 06/26/2010 at 05:54AM


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