What is the purpose of a General Warranty Deed?

A General Warranty Deed serves the purpose of transferring ownership of real property while providing certain guarantees regarding the title. This type of deed assures the buyer that the seller holds clear title to the property and has the right to sell it. Additionally, it guarantees against any future claims or issues that may arise regarding the title, which provides added security for the buyer.

The importance of such warranties lies in the protection they offer. They ensure that if any problems with the title come to light after the transaction, the seller is responsible for addressing those issues. Therefore, the General Warranty Deed not only facilitates the transfer of ownership but also protects the interests of the buyer throughout their ownership of the property.

Other options, such as leasing property, establishing a mortgage, or creating an easement, pertain to different legal instruments or agreements that serve other purposes within real estate transactions. These do not involve the comprehensive guarantees and assurances inherent in a General Warranty Deed.