There is a difference between a home title and a deed, though they are often mistaken for the same thing. A deed is a physical document by which ownership transfers title to the property. The title itself refers to ownership of the property in a non-physical sense. A title is not a physical document but the actual intangible concept of ownership of a piece of a land.
There are several different types of deeds relating to real estate. They are the general warranty deed, the special warranty deed, the bargain and sale deed, and the quitclaim deed.
The general warranty deed provides significant protection to the buyer, as the seller is obligated to provide the following warranties, also known as covenants, to the buyer under the general warranty deed.
Covenant of seisin- The seller’s warrant that he has the right to convey the title to the buyer.
Covenant against encumbrances- The seller guarantees the title has no outstanding leins or other encumbrances.
Covenant of quiet enjoyment- The seller guarantees the title against third parties who might claim the property as their own.
Covenant of further assurance- The seller guarantees that he will take any necessary action to make the title good.
Covenant of warranty forever- The seller will compensate the buyer if the title fails.
The special warranty deed warrants that the seller received the title and that during the time the seller held the title, it was not encumbered by leins, except as noted by the deed.
The bargain and sale deed does not protect the buyer against encumbrances, but does state the seller possesses and holds the title to the property.
The quitclaim deed, like the bargain and sale deed, does not provide any warranties, but rather conveys whatever interest the seller had at the time the deed is delivered.
American Home Title Group has been helping Marylanders with their title needs for over 25 years. In the ever-volatile real estate industry, a company’s longevity can be attributed to the quality of its work. With more than 120 years of experience in real estate and titles, American Home Title Group is ready to provide you with the best experience possible in every capacity.
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