I purchased a property in 2005 and just noticed it was not a Warranty Deed it is a Bargain and Sale with Covenant, what does this mean?
I agree with Mr. Gallo. Another way of putting it is that, unlike a "Warranty Deed", the grantor is not insuring title is good to the best of his knowledge in an absolute sense, he's only saying HE didn't do anything HIMSELF to impair good title (like convey it to someone else or use it as collateral in an unrecorded mortgage or deed). It only covers the Grantor's OWN acts.
In this day and age, title insurance is a much more secure and economical way of judging good title than the form of the deed or your own lawyer's or title searcher's opinion about what's good title. For a modest fee, you also get attorneys to defend the title if there are adverse claims, instead of having to go after a grantor, who may be long gone or "judgment proof" (no assets) and where you have to pay for the costs of prosecution or defense of the title defects.
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Real Estate Attorney
This is a warranty extending only from the grantor and not to or on behalf if his or her predecessors.
Contracts / Agreements Lawyer
It means the Grantor is not undertaking liability for predecessor acts, but only his/her own.
General Practice Lawyer
I agree with my colleagues. In addition, a Bargain and Sale Deed A bargain and sale deed only warrants against encumbrances expressly stated in the deed. The best way to protect your title would be to have a title insurance policy; however, it is important to have an attorney review the title policy and relevant abstract/title search to ensure that problems are addressed prior to issuance of the policy. Otherwise they could be excepted out of the policy's coverage.
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