| There can sometimes be some confusion about the | | | | as long as he resides on said property. |
| distinction between a general warranty deed and a | | | | • Covenant of Warranty |
| quit claim deed and which one is needed for a given | | | | This protects the buyer against other parties that |
| situation. The difference is actually fairly simple to | | | | may approach later claiming title on the property. |
| understand once it is broken down. | | | | • Covenant of Further Assurances |
| What is a General Warranty Deed? | | | | This assures that if there is a problem with the legal |
| A general warranty deed is a deed in which a seller | | | | transmission of title due to a mistake by the seller, |
| assures that he owns the piece of property | | | | the seller will do whatever is necessary to make sure |
| mentioned on the deed and is legally empowered to | | | | the title passes to the buyer. |
| sell it to the buyer. Within the general warranty deed | | | | What is a Quit Claim Deed? |
| are six Covenants for Title. These are essentially | | | | A quit claim deed is a deed wherein anyone who |
| promises that the seller makes regarding the | | | | may have an interest in a piece of property |
| property: They break down as follows: | | | | relinquishes his or her claims to that property. The |
| • Covenant Against Encumbrances | | | | quit claim deed provides no promise that the signing |
| This is a promise by the seller that the property is | | | | party (the grantor), has any actual interest in the |
| unencumbered by something such as a lien or a | | | | property or control over the property. It contains no |
| mortgage. | | | | covenants or promises other than to release any |
| • Covenant of Seisin and Covenant of the Right | | | | possible property claim to the grantee. It is |
| to Convey | | | | commonly used for between family members to |
| These are promises by the seller that he or she | | | | make sure there are no complications in the transfer |
| owns the property and is entitled to sell it. | | | | of property from, for example, one spouse to |
| The above three are known as the present | | | | another. |
| covenants because if they are violated, they are | | | | You should consult your real estate professional to |
| violated immediately upon signing. The following are | | | | determine which type of deed you require. They will |
| future covenants because they may be violated | | | | be able to answer your specific questions about the |
| after the title has passed to the new owner: | | | | title transfer process. In general, if you are selling a |
| • Covenant of Quiet Enjoyment | | | | property to a neutral party, you will probably require |
| The covenant of quiet enjoyment insures that the | | | | some form of general warranty deed. |
| buyer will enjoy undisturbed use of the property for | | | | |