Posted by Tony James on January 28, 2000 at 09:09:39:
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What is a ‘Warranty Deed’…and a ‘Title Commitment’? Need to know ASAP. - Posted by Tony James (minnesota)
Posted by Tony James (minnesota) on January 28, 2000 at 05:55:11:
I am about to close on a house and I need to send my investors these things, but I don’t know what they are. Could someone please tell me. Thank you
Re: What is a ‘Warranty Deed’…and a ‘Title Commitment’? Need to know ASAP. - Posted by JoeB(Atlanta)
Posted by JoeB(Atlanta) on January 28, 2000 at 07:21:14:
Tony, you should definitely have an attorney preparing these for you.
A Warranty Deed is the legal document that transfers ownership from the Seller to the Buyer. The Title Commitment is a guarantee from the attorney/title company that the title can be insured (ie that the chain of ownership looks OK to them).
I’m guessing your investor probably wants to see a completed, unsigned WD, and a Title Commitment in advance of closing to make sure everything is on the ‘up and up’…get your attorney to send it to him/her.
Hope this helps,
Joe Brillante