You can download these 25 Free Warranty Deed Forms as PDF Samples and Templates to assist you in the process of preparing your own Warranty Deed professionally. You can also download our 19 Free Employee Write-up Form Templates and 19 Free Assignment Form Templates as well to fulfill your requirements.
When a property, either commercial or residential, is sold from one person to another, various legal documents are signed. One of these documents is the warranty deed. This simple yet vital document not only protects the buyer but also ensures that the seller will be held responsible for any claims made after the property is sold. It is logical to sign a legal document when buying or selling a property because, without proof of the transfer, neither the buyer nor the seller has any rights or obligations regarding the property.
There are various types of warranty deeds, but two types are more common: the general warranty deed and the special warranty deed. A general warranty deed is a document that states that when it is signed between the seller and the buyer, the buyer has all the rights to the property and can use it according to their needs and requirements. If a third party makes a claim on the property ownership rights from any period of time, the seller will be responsible for settling the claim without involving the buyer. In contrast, in the case of a special warranty deed, the seller will only settle claims that date back to the period when they actually owned the property, which could be 5 or 10 years in some cases.
Uses and Importance of Warranty Deeds:
Perhaps the most important aspect of a warranty deed is that it allows the buyer to have all the legal rights to the property they bought, even if they haven’t taken possession of the property yet. The buyer is also protected from any claims on the ownership of the property, whether from an individual or a bank in the case of an outstanding mortgage. When the seller signs a warranty deed, they are agreeing that there are no outstanding dues or payments on the property. If someone claims ownership rights on the property later, the seller is legally responsible for settling the claim without asking for any money from the buyer.
Another important factor of a warranty deed is that it protects the seller in case of any illegal use of the property in the future. There are many examples where property transferred between two parties without legal documents creates problems, especially for the seller. If the buyer misuses the property, for instance, by using a residential property for commercial purposes, the seller can face issues. However, if the seller has a signed copy of the warranty deed, they are not responsible for illegal activities on a property they used to own. The warranty deed will state that once it is signed by the buyer, the ownership is transferred to the buyer, and any subsequent actions on the property are the sole responsibility of the new owner.
Free Warranty Deed Templates
Here are previews and download links for these Warranty Deed Templates in PDF Format.
source: https://eforms.com/deeds/general-warranty/
Free Warranty Deed Forms
Here are several Free Warranty Deed Forms in PDF Format to help you quickly print your own Warranty Deed easily.
Download the link for this Warranty Deed Form 16 in PDF Format,
Key Elements of a Warranty Deed:
Complete Details of the Seller:
The warranty deed is a legal document stating that the ownership of a property is transferred from one person to another, making it crucial to include the full details of the seller. This section should contain the seller’s full name, contact number, full address, and a description of their job or business.
Complete Details of the Buyer:
Similarly, it is important to include the full details of the buyer in the warranty deed. This portion of the document should mention the buyer’s full name, the full company name if a corporation is purchasing the property, their current address, and contact details. The buyer should also clearly state the purpose for which they are buying the property, such as residential or commercial use.
Brief Description of the Property:
A warranty deed is incomplete without a description of the property. This section should clearly mention the full address of the property, including the city and state where it is located. It should also include specifics about the property, such as its type (e.g., an apartment, an office building, or a farmhouse), its total area and covered area, and the year it was built. Sometimes buyers may also request the inclusion of the last inspection date along with the contact details of the inspector.
Full Statement of Guaranty from the Seller:
This is the most important part of the warranty deed. Here, the seller states that they are the legal owner of the property, that no one is forcing them to sell, and that they are willing to sell the property. The seller will also mention the duration of their ownership and the purposes for which they used the property. Additionally, the seller will declare that they have the right to sell the property and that no one else holds ownership rights. In case of any future claims, the seller will take full responsibility for settlement without asking for any money from the buyer.
Signatures of Both Parties with Witnesses:
At the end of the warranty deed, both parties—the seller and the buyer—are required to sign the document to make it legal and official. Typically, when a property is transferred, witnesses are involved in the process to address any potential legal claims in the future. If witnesses are involved, they are also required to sign the warranty deed and provide their contact information.
