Posted by Nate(DC) on February 06, 2002 at 24:18:09:
A general warranty deed (what you refer to as a warranty deed) contains certain warranties that the title is good and marketable.
A special warranty deed USUALLY means that the deed contains the same warranties but that the seller is only making the warranty with respect to anything that occurred while they owned the property.
It is a common form of deed particularly for lender owned properties where they have no idea about previous title issues. If you buy title insurance, I would consider it to be a “safe” conveyance.
What is a SPECIAL warranty deed? - Posted by Wilton
Posted by Wilton on February 06, 2002 at 24:07:53:
I was planning to bid at an AUCTION next week. The auction company represents the lenders that have had forclosures in past few months. The transfer of the properties are to be made with a special warranty deed.
I am aware that a special warranty deed is not as good as a warranty deed, but I dont know the exact difference.
Is this a “safe” conveyance for me if i am a successful bidder?
Thanks in advance for any help.
Wilton