Georgia limited warranty deed. The georgia deed forms are a method by which property in georgia is transferred or conveyed from one person to another. General versus limited warranty deed the 2014 revisions to the georgia association of realtors purchase and sale agreement changed the deed requirement of sellers from general warranty deed to limited warranty deed also known as special warranty deed. A special warranty deed limited warranty deed in georgia must conform to statutory regulations for conveyances of real estate.
The buyer gets an excellent deal on the home and the bank unloads the property quickly. Most property conveyed in georgia is transferred by warranty deed. There are different types of deeds depending on your situation and your needs.
County of this indenture made the day of between of the county of and the state of as party or parties of the first part hereinafter called grantor and of the county of and the state of as party or parties of the second part hereinafter called grantee the words grantor and. Although a general warranty deed is most common other types of deeds such as limited warranty deeds and quitclaim deeds also convey property. The georgia limited warranty deed provides a method of transferring property from one person to another in georgiarather than providing a full warranty on the transfer it provides a limited warranty whereby the seller or grantor agrees to defend the buyer or grantee against any claims made through the seller.
A buyer usually desires a warranty deed from the seller however a seller may only be willing to provide. The special or limited warranty deed gives the grantee greater protection than a quitclaim deed and less protection than a full or general warranty deed. Limited special warranty deed gaby practical law real estate related content law stated as of 13 sep 2018 georgiaa standard document that is a limited warranty deed also known as a special warranty deed transferring title and legal interest in real property from the grantor to the grantee.
When a special or limited warranty deed is used the grantor only warrants that there are no title defects during the time the grantor owned the property. A limited warranty deed in the form customarily used in the state of georgia pursuant to which a grantor warrants title only as to parties claiming by through or under the grantor but not otherwise from seller with respect to the land and improvements owned by seller the limited warranty deed subject only to the permitted exceptions and executed and. In georgia a limited special warranty deed conveys title in fee simple with limited warranties.
The buyer grantee receives the property via a limited warranty deed.