There are a myriad of ways for Property Transfers to be misfiled during the transfer of property.
If you aren’t using a title agency to assist with your transfer please reach out to discuss your scenario. I have seen a grantor who sold property become liable for a debt that was not hers because of the improper use of a General Warranty Deed.
I have also seen numerous title defects caused by buyers who received faulty Quit Claim Deeds which prevented the grantee from taking out a mortgage or even selling the property for market value.
Whether it is a gift, a land contract, lease with option or simple cash transaction, a proper deed can make all the difference.
The General Warranty Deed provides the highest level of protection for buyers in Ohio real estate transactions. The grantor guarantees that they hold a clear title free of encumbrances and promises to defend the title against future claims, even those predating their ownership.
A Special Warranty Deed limits the grantor’s guarantees to issues arising only during their period of ownership. It protects the grantee against claims from the grantor’s time but not before.
A Fiduciary Deed is a type of deed used when a property is transferred by a fiduciary, such as an executor, trustee, guardian, or conservator, who is acting on behalf of another party. In Ohio, fiduciaries use this deed to sell or transfer property without making personal warranties about the title.
A quitclaim deed is a legal document used to transfer any ownership interest the grantor (person transferring the property) may have in a property to a grantee (person receiving the property). Unlike other types of deeds, a quitclaim deed provides no warranties or guarantees about the property’s title. It only conveys the grantor’s current interest, if any, and does not promise that the grantor actually owns the property or that the title is clear of liens or encumbrances.
LEGAL DISCLAIMER:
The information contained on this website is presented for informational and marketing purposes only and is not to be understood as legal advice. You should consult an attorney for advice respecting your individual needs. The Law Office of Matthew A. Schwartz looks forward to speaking with you about your particular needs. Please note, however, that the mere act of contacting our firm does not create an attorney-client relationship. As a result, you should never send any confidential information to our office until a Representation Agreement has been signed by both you and The Law Office of Matthew A. Schwartz.