Warranty deed
A deed in which the seller promises they own the property and that the title is free of undisclosed claims. A general warranty covers all past owners; a special warranty covers only the seller's time of ownership.
Also called: general warranty deed, special warranty deed
Related terms
The signed legal document that transfers ownership from the seller to the buyer. It is recorded with the county after closing to make the transfer part of the public record.
A deed that transfers whatever interest the signer has, if any, with no promise that the title is good. It is common between family members, in divorces or to fix title errors, not in typical sales.
The legal right to own and use a property. Title is not a single document; it is shown by the deed and public records, and must be clear for a sale to close smoothly.
A one-time policy that covers losses from title problems missed by the search, such as forgery or unknown heirs. Lenders require a lender's policy; the owner's policy protects the buyer. Who pays varies by state and local custom.
The recorded history of every transfer of a property from one owner to the next. Gaps or errors in the chain can delay a sale until they are fixed.