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Limited or Special Warranty Deed 
6 posts by 5 users
C. S. |
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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? |
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Frank A.Loveland, CO |
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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 |
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C. S. |
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Thanks for the quick reply. The property is in SC. They are paying for the title insurance. |
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Rod C.Real Estate Investor Chester, VA |
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what is an warranty deed |
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Jon H.Real Estate Investor Denver, Colorado |
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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. |
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Joe B.Real Estate Agent Howell, MI |
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Around my area, most banks are delivering title via a Covenant Deed vs. a warranty deed. |
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Posted: 03/05/2007 at 10:21AM
