How a General Warranty Deed Works in Dallas
When buying and selling real estate in Dallas, it is important for both parties to understand the types of conveyance available2 min read
When buying and selling real estate in Dallas, it is important for both parties to understand the types of conveyance available. Specifically, a general warranty deed is one of the most popular ways in which property owners can transfer title in the Dallas area. This article will explain the basics of the general warranty deed, what it covers, and how to use it in Dallas.
A general warranty deed is a legal document that is used to transfer title to real property from one person to another. It is a guarantee that the title of the property being transferred will be free of any encumbrances, defects, or liens, and that the grantor of the deed will defend against any claim of an interest in the property.
The deed must be signed by both the grantee, or the recipient of the deed, and the grantor, or the person transferring title. Additionally, it must be notarized by a public notary and recorded with the Dallas County Clerk's office in order to be valid.
A general warranty deed does not just guarantee existing interests in the property, it also includes promises about future claims. In the state of Texas, a general warranty deed guarantees that the property is owned by the grantor and that all taxes will be paid in full. Furthermore, it promises that the title is transferable and will not be affected by possible future claims.
It is important to note that a general warranty deed only transfers the current title of the property, which is why it is important for the grantor to make sure that all liens and encumbrances are cleared prior to signing the deed. If there are unresolved claims prior to the transfer of title, the grantor may be responsible for any resulting debts.
In Dallas, a general warranty deed is a great way to quickly transfer title and guarantee that all interests in the property are taken care of. By consulting a local attorney, real estate owners can ensure that all aspects of the conveyance process are properly addressed and that the deed covers all relevant claims. UpCounsel is an excellent resource for businesses and individuals to find experienced attorneys in the Dallas area who can help them understand and navigate the general warranty deed process.
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