This deed transfers the title to the property. At the time of transfer, the grantor must quit any liability that is attached to the estate. Liabilities include judgments against the grantor, code violations, and mechanic liens. However, mortgages remain and are the responsibility of the grantor even after the transfer.
Limited Warranty Deed
This type of deed gives the grantor the right to transfer the deed. It makes it an insurable title rather than a clear one. It is also called a Special Warrant Deed.
This type of deed guarantees that the grantor is transferring a clear title to the property buyer. A clear title assures of no defects or encumbrances.
Throughout your real estate investing course, you may also encounter other types of deeds. So, it is very crucial to do due diligence on each type in order to determine on what you’re dealing with.