Even with the recent slight rise in interest rates, the economy is remaining strong and that is reflected in part by a relatively stable and strong housing market in Florida. If you are considering now to be your time to buy or sell a home or other piece of real estate, you should take the time to learn that there are different types of deeds out there and you will want to know what is involved in them before you proceed too far.
Perhaps the most commonly used type of deed in home sales is the general warranty deed. The Balance explains that the general warranty deed comes with four primary covenants. These include the covenant of further assurance, the covenant against encumbrances, the covenant of quiet enjoyment and the covenant of seisin. Put together, these four covenants give a buyer perhaps the most protection they can have.
With a general warranty deed, a seller must provide all required documentation, promise that there are no liens or other rights to the property and ensure that the title is completely clear all the way back to when the home was originally built. With this deed, buyer also receives the right to resell the property in the future.
This information is not intended to provide legal advice but is instead meant to give Florida residents looking to either buy or sell real estate an overview of what a general warranty deed is, the rights is provides to a buyer and the responsibilities of a seller.