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When buying or selling a property in Utah, it is important to understand the different types of deeds available. A deed is a legal document that transfers property ownership from one person to another. There are three main types of deeds in Utah: general warranty, special warranty, and deed without warranties. This blog post will discuss the differences between these three types of deeds and help you decide which one is right for you!
A general warranty deed is the most comprehensive type available in Utah. This deed provides complete protection to both the buyer and seller, as it guarantees that the seller has good title to the property and has not previously sold or encumbered it without disclosing this fact. In addition, a general warranty deed protects against any claims that may arise from previous property owners or other third parties.
The second type of deed in Utah is a special warranty deed. This type of deed provides more limited protection than a general warranty deed, as it only warrants against claims that have arisen during the current ownership period. It does not protect past issues with the property. A special warranty deed also does not protect against unrecorded liens on the property or undisclosed claims from previous owners.
The third type of deed in Utah is a deed without warranties. This type of deed does not include any promises, representations, warranties, or guarantees about the title to the property. It only transfers ownership rights from one party to another and does not provide protections against third-party claims or liens on the property.
When it comes to real estate transactions, understanding the different types of deeds in Utah is essential for ensuring that you are adequately protected from potential legal issues down the line. A law firm can help explain how each deed works and which one may be best suited for your particular transaction. By working with an experienced attorney, you can ensure that your purchase and sale documents are appropriately prepared per Utah law.
Utah’s three main types of deeds are a general warranty deed, a special warranty deed, and a deed without warranties.
A general warranty deed is the most commonly used type of deed in Utah because it provides buyers and sellers the highest level of protection. This deed guarantees that the property title is free from any encumbrances or defects. It also states that the seller will defend any claims against their title to the property until they sign over ownership rights to the buyer.
A special warranty deed is slightly different from a general one, as it only guarantees that there were no encumbrances or defects during the period when the seller owned it. It does not guarantee that the title would be free from claims made by a third party before the seller owned it.
The last type of deed seen in Utah is a deed without warranties. This one carries no guarantees of any kind and transfers ownership from one person to another without any promises being made on either side. This type of deed is typically used for family members transferring property to each other since they have an existing relationship and trust that the title is valid or for buyers who are purchasing properties “as-is” with no added assurances from the seller.
No matter which type of deed you choose, it’s essential to understand the differences between them so you can make an informed decision about the best fit for your needs. A general warranty deed provides the most protection for buyers, while a special warranty and deed without warranties offer less protection but can be less expensive to prepare.
When buying or selling property in Utah, it’s crucial to have a knowledgeable attorney who understands the local laws and customs around deeds and any other real estate issues that could arise during a transaction. Working with an experienced attorney ensures you get all the benefits of having the correct type of deed for your situation so that you can protect yourself and your investment.