question about special warranty deed / title

3 Replies

Hi all. Question is this - terms of the sale were for a quit claim deed. I asked if the seller (chase) would be willing to provide a warranty deed instead..they replied "can provide a special warranty deed as long as you purchase title insurance at your cost". Here's my question- do I HAVE to purchase title insurance to get a special warranty deed? I wasn't going to purchase any title insurance - I've already done my own research and feel comfortable without it..I'm paying cash, so no lender policy needed. Can I just get in touch with a title company and ask them to prepare a deed only?

@Lynne Smith

It is Chase who will draft the deed. It will say Quit-claim deed. You can choose to skip the title insurance if you like. Unless you specialize in title searches I would recommend buying title insurance. If you choose to sell it and an issue arises the deal may die unless you clean up the debt or issue.

Why do you want a warranty deed if you are comfortable without title insurance? Chase will only warranty if they are covered by a title company warranty or they might have to consider it a liability on their books to be self insuring a deed to someone!

Originally posted by @Ryan Seib :

Why do you want a warranty deed if you are comfortable without title insurance? Chase will only warranty if they are covered by a title company warranty or they might have to consider it a liability on their books to be self insuring a deed to someone!

Sorry didn't see your reply before. I figured a warranty deed offers better assurance than a simple quit claim deed, so if I had a warranty deed I would just feel more secure. Combined with having done my own research, that seemed fine. But they definitely wanted me to get a title company, so I did. 

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