Warranties in the Deed

Pataasin ang iyong marka sa homework at exams ngayon gamit ang Quizwiz!

Quitclaim Deed

Contains no warranties; buyer takes whatever title seller has, if any.

General Warranty Deed

Grantor warrants against all defects in title.

Special Warranty Deed

Grantor warrants against any defects in title that evolved during his ownership, but nothing else.

Six Warranties/Covenants

Present Warranties 1. Warranty of Seisin 2. Warranty of right to convey 3. Warranty against encumbrances Future Warrants 4. Warranty of general warranty 5. Warranty of quiet enjoyment 6. Warranty of further assurances

Present Covenants

Warranty of Seisin - grantor warrants that he owns the property he purports to convey Warranty of right to convey - grantor warrants that he has the right to convey the property (generally if he is owner (seisin) this is satisfied; only fringe scenario where trustee is owner but right to convey restricted) Warranty against encumbrances - grantor warrants that there are no encumbrances on the title Present covenants are breached, if at all, at the moment of delivery. i.e., either the grantor owns the property at the time, or doesn't. Present covenants do not run with the land. But, some courts say that the right to sue on the breach of a present covenant is assigned to a subsequent grantee, so the subsequent grantee has the right to sue the remote grantor SO LONG AS THE STATUTE of LIMITATIONS has not run.

Future Covenants

Warranty of general warranty - grantor warrants that he will defend the grantee against any legal claims of superior title warranty of quiet enjoyment - grantor warrants that no one asserting superior title will disrupt the grantee's quiet enjoyment warranty of general assurances - warrants that the grantor will execute any documents necessary to perfect title The future warranties run with the land to subsequent grantees. The statute of limitations begins to run on future warranties once the superior claim is asserted.


Kaugnay na mga set ng pag-aaral

BUS140 In-Class Quizzes ch9, 11, 12, 16

View Set

Chapter 4 (South America) Regions Study Set

View Set

free biology exit exam practice test

View Set

Module 19/20 - Introduction to Ecology

View Set

Principles of Management - Final Exam Cate Loes

View Set

Texas Principles of Real Estate 1 - Chapter 12

View Set

Accounting Smart Books, Assignments, etc.

View Set