Grant, Bargain and Sale deed?
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zephyrusmeister asked:
Hello,
What does a Grant, Bargain and Sale Deed actually mean. This is from a propertly listing in Nevada and it mentions that this is a ‘Nevada Warranty Deed’. Is the phrase ‘Grant, Bargain and Sale Deed’ the same as a ‘Warranty Deed’. Or are there other characteristics that one should be aware of?
Hello,
What does a Grant, Bargain and Sale Deed actually mean. This is from a propertly listing in Nevada and it mentions that this is a ‘Nevada Warranty Deed’. Is the phrase ‘Grant, Bargain and Sale Deed’ the same as a ‘Warranty Deed’. Or are there other characteristics that one should be aware of?
TIA
-zeph
Question posted courtesy of: Martha
March 7th, 2008 at 12:32 am
The basic difference between a grant deed and a warranty deed is that, with a grant deed, the grantor is promising that they haven’t sold the property to anyone else and that they haven’t encumbered the property with any liens.
With a warranty deed the grantor is warranting that the title to the property is clear. If there ends up being a problem with the title then the grantor will be responsible for clearing it up.
This site gives a general explanation of the different types of deeds:
The most important thing to know is that it really doesn’t matter what type of deed you get as long as you buy title insurance when you purchase the property. The title insurance will protect you against any claims.