Warranty Deed

Purpose of a Warranty Deed

Warranty Deeds, Limited Warranty Deeds and Quit Claim Deeds, are traditionally the deeds of choice, recognized as proper in the State of Georgia. Warranty Deeds and Quit Claim Deeds have two entirely different purposes.

  1. A Warranty Deed typically transfers title to an entity unrelated to the current title holder. In this case, the new owner (entity) receives a warranty deed assuring the commercial and/or industrial property has a clear title.
  2. A Warranty Deed offers a measure of security to the grantee, since the deed promises (warrants) that the commercial and/or industrial property given in unencumbered. This means the grantee is not to be held responsible for encumbrances, not specifically excepted to. The Warranty Deed gives the grantee legal grounds for redress if the grantor falsely warrants the commercial and/or industrial property. A Warranty Deed warrants that the grantor will warrant and forever defend the right and title to the real property unto grantee against the claims of all persons whomsoever.

 

Limited Warranty Deeds

A Limited Warranty Deed is very similar to a Warranty Deed. However, the main difference is the limited warranty. Wherein the Warranty Deed warrants that the grantor will warrant and forever defend the right and title to the real property unto grantee against the claims of all persons “whomsoever”, the Limited Warranty Deed only warrants that the grantor will warrant and forever defend the right and title to the real property unto grantee against the claims of all persons “claiming by under or through grantor”. This is a subtle difference, and different entities have different opinions on which they will use.

 

Quit Claim Deeds

A Quit Claim Deed may be used to quitclaim any interest any entity may have, said interest being unclear or ambiguous. A quitclaim is used for the entity to give up any right to use or benefit from the commercial and/or industrial property, they may have.

 

Quit Claim Deeds are often used during situations where commercial and/or industrial property owners part ways. The quitclaim literally means the grantor abandons or quits his claim to the commercial and/or industrial property and bestows all rights to the commercial and/or industrial property to the grantee.
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