Four Most Common Types of Texas Deeds
In Texas, deeds play a crucial role in real estate transactions. They are legal documents that transfer ownership of property from one person to another. Here, we'll break down the most common types of deeds used in Texas.
General Warranty Deed
A General Warranty Deed offers the most comprehensive protection to the buyer. It assures that the seller has legal title to the property and defends against any past, present, or future claims on the property. Think of it as the “gold standard” of deeds in Texas.
Special Warranty Deed
A Special Warranty Deed is like a “limited warranty” version of the General Warranty Deed. A Special Warranty Deed offers protection, but only against title issues arising during the seller's ownership. It doesn't cover issues that might have arisen before the seller owned the property.
General Warranty Deeds and Special Warranty deeds are the most common deeds used in Texas real estate transactions.
Quitclaim Deed
A Quitclaim Deed conveys any interest the seller may have in the property to the buyer, but it does not guarantee the quality of that interest. A Quitclaim deed conveys title if the seller owns title. If the seller does not own title to the property, a Quitclaim deed does not convey anything. In effect, a Quitclaim Deed acts as a disclaimer by the seller, stating, “I'm giving you any claim I might have to this property, but I make no assurances about its title status.” Generally, title companies will not accept them as part of a real estate transaction they are handling. Except for limited circumstances, a Quitclaim Deed should not be used in a Texas real estate transaction.
Deed Without Warranty
In a Deed Without Warranty, the seller doesn't provide any guarantees about the property's title. These deeds are used when the seller wants to transfer ownership without taking on any liability for potential title problems.
Understanding the different types of deeds used in Texas is essential for anyone involved in real estate transactions. Whether you're buying or selling property, knowing which deed is appropriate can help protect your interests. In future articles we will discuss these deeds in more detail and other specialized types of deeds.
If you have questions about this article or selling or buying real estate, contact the trusted and experienced attorneys at Moore Ganske Murr Session pllc. We represent buyers and sellers in all types of commercial and residential purchase and sale transactions.
This article is not legal advice. Consult an attorney for advice about your situation.