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What Is a Special Warranty Deed In Louisiana?
Louisiana warranty deed form is a type of deed in which the seller (grantor) warrants or guarantees that the property being transferred is free from any encumbrances or claims created or incurred by the grantor during the time they held the property. However, the grantor does not make any guarantees or warranties about the property's condition or title before their ownership. This type of deed is generally used in commercial real estate transactions.
How to Prepare Louisiana Special Warranty Deed Form
To write a special warranty deed form in Louisiana, you will need to include certain information and language. Also, you will need a sample of the form. You can find a free special warranty deed Louisiana template on the PDFliner website. Here is an example of what a special warranty deed form may look like:
- The names and addresses of the grantor (the person selling the property) and the grantee (the person buying the property).
- A legal description of the property includes the street address, parcel number, and other identifying information.
- A statement of consideration, or the amount of money being paid for the property.
- A statement of warranty, in which the grantor warrants that the property is free from any encumbrances or claims created or incurred by the grantor during the time they held the property.
- A statement of non-warranty, in which the grantor specifically disclaims any warranties or guarantees about the property's condition or title prior to their ownership.
- At least one other person witnessed the grantor's signature.
- Notarization by a Louisiana notary public.
It is always advisable to consult a lawyer to prepare the document as it requires legal language and professional guidance.
How to Get a Warranty Deed In Louisiana
To obtain a Louisiana warranty deed, you will need to follow these steps:
- Find a property you wish to buy.
- Negotiate the purchase price and terms of the sale with the seller (grantor).
- Have a real estate attorney or title company prepare a warranty deed form, which will include the legal description of the property, the names and addresses of the grantor and grantee, the purchase price, and any other relevant terms of the sale.
- Review and sign the warranty deed form.
- Notarize the warranty deed with a Louisiana notary public.
- Record the warranty deed at the Louisiana land records office for the parish (county) in which the property is located.
- Pay all necessary taxes and fees associated with the sale and recording of the warranty deed.
Common Uses of Louisiana Special Warranty Deed Form
Louisiana special warranty deeds are commonly used in commercial real estate transactions, as well as in other situations where the grantor wants to limit their liability for any potential issues with the property. Some common uses of a warranty deed Louisiana form include:
- Sale of commercial properties: Special warranty deeds are often used to transfer ownership of commercial properties, such as office buildings, retail spaces, and warehouses, as the grantor only warrants the property against encumbrances and claims that they created or incurred during their ownership.
- Sale of rental properties: Special warranty deeds may be used when selling rental properties, such as apartments or houses, as the grantor only guarantees the property against any encumbrances and claims that they created or incurred during their ownership, and not any issues that may have existed prior to their ownership.
- Sales between family members: Family members may use a special warranty deed when transferring property between them, as they may have a pre-existing relationship and may not want to assume liability for any issues that existed prior to their ownership.
- Sales between business partners: Business partners may use a special warranty deed when transferring property between them, as they may not want to assume liability for any issues that existed prior to their ownership.
Also, keep in mind that there are different types of warranty deeds and the best fit for a specific transaction will depend on the parties' needs and concerns. It is always advisable to consult with a lawyer to determine which type of warranty deed is best for your specific situation.
Louisiana Special Warranty Deed Form Popular Questions
How to get a copy of warranty deed in Louisiana?
To obtain a copy of a warranty deed in Louisiana, visit the land records office for the parish in which the property is located, search for the warranty deed using the property's legal description, the names of the grantor and grantee, or the property's address, and then request a copy of it from the office. They will either provide you with a paper copy or an electronic copy.
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