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Real Property • Conveyances
PROP#182
Legal Definition
A general warranty deed contains 3 present warranties, which may be breached at the time of conveyance, and 3 future warranties.
Present Warranties:
1. Seisin
2. Right to Convey
3. Against Encumbrances.
Future Warranties:
1. Quiet Enjoyment
2. Warranty
3. Further Assurances.
Present Warranties:
1. Seisin
2. Right to Convey
3. Against Encumbrances.
Future Warranties:
1. Quiet Enjoyment
2. Warranty
3. Further Assurances.
Plain English Explanation
The general warranty deed is the best type of deed a recipient could dream of getting. It's like buying something from Costco where you don't have to worry about whether or not there's anything wrong with the product because you nkow Costco will make it right if you are unhappy. Not only does it convey ownership of the property, it includes bonus promises to sweeten the deal even more. We'll jump into each of these promises in later cards, but know that half of them are present warranties and half of them are future warranties.
A present warranty is a warranty that applies up until the moment of delivery. In other words, if a present warranty is going to be breached, then it will happen the moment that the deed is delivered to the recipient.
In contrast, a future warranty is a warranty that can only be breached after delivery, at some point in the future.
A present warranty is a warranty that applies up until the moment of delivery. In other words, if a present warranty is going to be breached, then it will happen the moment that the deed is delivered to the recipient.
In contrast, a future warranty is a warranty that can only be breached after delivery, at some point in the future.