A special warranty deed guarantees title only against defects arising during which period?
Correct Answer
B) Only during the grantor's period of ownership
A special warranty deed limits the grantor's guarantee to defects that arose only during the grantor's period of ownership. Unlike a general warranty deed, which warrants title against defects throughout the entire chain of title, a special warranty deed offers more limited protection. In Maine, special warranty deeds are commonly used by fiduciaries such as executors, trustees, and corporate grantors who cannot warrant the full history of title.
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Related Topics & Key Terms
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Key Terms:
Related Concepts
Title insurance is a policy that protects the insured party against financial loss from defects in title that were not discovered during the title search. Unlike other insurance, it covers past events rather than future risks.
A title search is an examination of public records to determine the history of ownership, liens, encumbrances, and other interests affecting a property. It verifies that the seller has the legal right to transfer the property.
A transfer tax is a tax imposed by state, county, or local government on the transfer of real property from one owner to another. It is typically based on the sale price or a flat rate per dollar of consideration.
More Transfer Of Title Questions
Which type of deed provides the grantee with the greatest protection against title defects from any point in the property's history?
Oklahoma uses which type of recording system?
Which best describes a quitclaim deed?
What is Oklahoma's documentary stamp tax rate on real estate transfers?
Title insurance primarily protects against which of the following?
- → In Oklahoma, real estate documents such as deeds are recorded with which office?
- → Under Arkansas law, what is the realty transfer tax rate charged when real property is conveyed?
- → In Arkansas, with which office are real estate deeds and other property documents officially recorded?
- → Arkansas uses which type of recording system to determine priority among competing claims to real property?
- → Which type of deed provides a buyer with the greatest protection against title defects, including those arising before the grantor's period of ownership?
- → A special warranty deed guarantees that the grantor will defend the title against claims arising from which of the following?
- → An abstract of title is best described as which of the following?
- → Delaware's realty transfer tax, which can total up to 4% of the purchase price, is considered:
- → Which of the following best describes the legal concept of escheat?
- → Title insurance primarily protects the policyholder against which of the following?
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