What is a statutory warranty deed in Oregon?

Marigold Keys   |   Member since 2014  |  10+ Answers Submitted  |  ✔ Verified

A warranty deed conveys an interest in real property to the named grantee with full warranties of title. Warranty deeds are statutory in Oregon under ORS 93.850, and they convey real property in fee simple with the most assurance of title. Vesting describes how the grantee holds title to the property.

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Caydence Patel   |   Member since 2008  |  10+ Answers Submitted  |  ✔ Verified

Besides, what is a statutory warranty deed?

Definition of Statutory Warranty Deed. A warranty deed is a document that transfers the title to a property from the seller to the buyer. A statutory warrant deed is an abbreviated version of a warranty deed written in accordance with state law.

Beside above, what is a special warranty deed in Oregon? Oregon Special Warranty Deed Form. The Oregon special warranty deed is a legal document transferring property from an owner of an interest in property to another person. This is a warranty deed, but the warranty is limited to the time frame involving seller's ownership of the property.

Danny Corbett   |   Member since 2019  |  10+ Answers Submitted  |  ✔ Verified

Similarly, you may ask, what is the difference between a statutory warranty deed and a warranty deed?

A statutory warranty deed is different from a warranty deed because it is a shorter form made available through your state's statutes and it may not outright list the promise that the title is guaranteed to be clear. Instead, because it is a statutory form, this guarantee is implied and is still legally enforceable.

Natalie Sanchez   |   Member since 2020  |  10+ Answers Submitted  |  ✔ Verified

Which deed is not used in Oregon?

This deed does not convey after acquired title and makes no covenants. grant deed is used in California and Idaho. It is a deed of conveyance that is used instead of the general warranty deed used in Oregon.

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Harriet Robe   |   Member since 2010  |  ✔ Verified

What is statutory title?

Noun. 1. statute title - a heading that names a statute or legislative bill; may give a brief summary of the matters it deals with; "Title 8 provided federal help for schools" title, rubric.

David Payne   |   Member since 2006  |  ✔ Verified

What is a statutory warranty deed in Florida?

A statutory warranty deed is also called a general warranty deed. It fully warrants title to the property being conveyed against any and all claims. It offers the broadest warranty of any of the deeds. It is called a statutory warranty deed because a form for it is set out in the Florida Statutes.

Chloe Santos   |   Member since 2007  |  ✔ Verified

What do you mean by trust deed?

Real Estate A Deed of Trust is essentially an agreement between a lender and a borrower to give the property to a neutral third party who will serve as a trustee. The trustee holds the property until the borrower pays off the debt. Deeds of Trust are not as common as they once were.

Rosa Miller   |   Member since 2016  |  ✔ Verified

Does a warranty deed mean you own the property?

A warranty deed is a document often used in real estate that provides the greatest amount of protection to the purchaser of a property. It pledges or warrants that the owner owns the property free and clear of any outstanding liens, mortgages, or other encumbrances against it.

Kendra Boyle   |   Member since 2007  |  ✔ Verified

Who holds the warranty deed?

A warranty deed is a type of deed where the grantor (seller) guarantees that he or she holds clear title to a piece of real estate and has a right to sell it to the grantee (buyer), in contrast to a quitclaim deed, where the seller does not guarantee that he or she holds title to a piece of real estate.

Estrella Donnelly   |   Member since 2020  |  ✔ Verified

Is the grantor the owner?

The grantor is the owner and the grantee is the buyer who is acquiring an equitable interest, but not bare legal interest, in a property.

Isla Shaw   |   Member since 2007  |  ✔ Verified

Does a special warranty deed transfer ownership?

A special warranty deed is a legal document that transfers ownership of real property from one person to another.

Nate Fenton   |   Member since 2009  |  ✔ Verified

What are implied warranties?

An implied warranty is a legal term for the assurances – written or oral – that a product is fit for the purpose intended and is merchantable, i.e., conforms to an ordinary buyer's expectations.

Bob Ashwell   |   Member since 2012  |  ✔ Verified

Does a warranty deed require a title search?

It's important to note that a warranty deed does not actually prove the grantor has ownership (a title search is the best way to prove that), but it is a promise by the grantor that they are transferring ownership and if it turns out they don't actually own the property, the grantor will be responsible for compensating

Leroy Graham   |   Member since 2014  |  ✔ Verified

How long is a warranty deed good for?

3 attorney answers The law will assume that an Agent acting under a valid Durable Power of Attorney, had the authority to transfer the property. A Warranty Deed has no expiration date, it is transferred permanently as of the date of the transfer. Unless someone can

Alma Stuart   |   Member since 2006  |  ✔ Verified

What is a statutory quit claim deed?

A quitclaim deed is a legal instrument that is used to transfer interest in real property. The owner/grantor terminates (“quits”) any right and claim to the property, thereby allowing the right or claim to transfer to the recipient/grantee.

Faith Bristow   |   Member since 2014  |  ✔ Verified

Why would you use a warranty deed?

A Warranty Deed is a real estate document used when a property owner (grantor) transfers land to a buyer (grantee), and wishes to make a guarantee that the property is free and clear of any encumbrances, like a lien or mortgage.

Ryan Redden   |   Member since 2008  |  ✔ Verified

What is a fulfillment deed?

The short answer to your question is that a warranty fulfillment deed is the deed which would be given when a real estate contract was paid in full

Eduardo Wilson   |   Member since 2019  |  ✔ Verified

What is a special warranty deed in Florida?

In Florida, a special warranty deed is a real estate transaction in which the transfer of a property is involved. When the lender then sells or grants the property to developers or new buyers, the lender is required to ensure there are no defects to the property during the lender's ownership.

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