DEEDS 101: What are the Different Types of Deeds? What Do They Mean? - Arlington VA Homes

DEEDS 101: What are the Different Types of Deeds? What Do They Mean? - Arlington VA Homes

There are three types of deeds that you need to know about; a general warranty deed, a special (limited) warranty deed, and a quitclaim deed.

What are the differences between the three?

A title is typically transferred by a general warranty deed. A general warranty deed guarantees the grantor's good title prior to and after the conveyance and contains covenants concerning the quality of the title. The usual guarantees by the seller are: Good title, freedom from encumbrance other than specifically identified, and right of possession to the buyer as against all others. The warranty includes any claims arising prior to the grantor's possession.

A special warranty deed gives less extensive warranties than the grantee receives from a general warranty deed. Under a special warranty deed, the grantor warrants only against claims arising during the period in which the grantor held title, while under a general warranty deed the grantor warrants against all claims, even if prior to the date the grantor himself or herself took title.

A quitclaim deed contains no warranties of any kind and conveys only the interest held by the grantor. The quitclaim deed does not convey after-acquired title and is not typically used for residential transactions where buyers pay fair market value in an arms length sales transaction. Quitclaim deeds are usually only used by grantors to display the property as a gift or to correct errors.

If you have any additional questions about deeds, please don't hesitate to contact Mr. Arlington.