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Richard, Attorney
Category: Legal
Satisfied Customers: 53698
Experience:  Attorney with 29 years of experience.
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What is the difference between a statutory warranty deed,

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What is the difference between a "statutory" warranty deed, a "special" deed and "general" warranty deed?

Which one is recommended for transfering a property that a homeowner owns into a Revocable Living Trust?

Is it legal for the homeowner to prepare the deed himself?


Good evening...1) A general warranty deed is a deed in which you warrant that the title is good. 2) A special warranty deed is a deed in which you warrant the title during your ownership...i.e., that you didn't do anything during your ownership that would cause the title not to be good. 3) A statutory warranty deed is a warranty deed that references a particular state statute so that you do not have to put the specific warranty language in the deed. Actually, however, when contributing property to a revocable living trust, one does not use any of these. Rather, a Quit Claim Deed is typically used to transfer the property for this type transaction.



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Customer: replied 5 years ago.

Why is it a quit calim deed as opposed to one of the others?


Thanks again.

Because when you are transferring it for no compensation, you typically don't warrant title so you have no way of later being held liable for some title issue. By transferring by a Quit Claim Deed you are deeding whatever it is you own with no warranties which is perfect for a living trust because all you are trying to do is to get whatever it is you own out of your probatable estate.
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