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What Is a Special Warranty Deed In Maryland?
A Maryland special warranty deed form is a type of deed used in Maryland real estate transactions that provide the buyer with certain warranties or guarantees related to the property being purchased. Unlike a general warranty deed, which provides broad warranties covering the entire history of the property, a special warranty deed only provides warranties for a specific period of time, typically during the seller's ownership of the property. This means that the seller is only responsible for any issues or defects that arose during their ownership and not for any issues that may have existed before they owned the property.
How to Create a Maryland Special Warranty Deed Form
Writing a special warranty deed Maryland is a straightforward process. Here are the steps to follow:
- Identify the parties involved: The special warranty deed form should begin by identifying the parties involved in the transaction. This includes the seller (grantor) and the buyer (grantee). The form should also identify the property being sold, including the legal description.
- Include the special warranty language: The special warranty language should be included in the deed form. This language should clearly state that the seller is providing warranties for only a specific period of time, typically during the seller's ownership of the property. The language should also specify any exclusions or limitations to the warranties being provided.
- Include any additional terms or conditions: The deed form may include additional terms or conditions that the parties have agreed to, such as the purchase price, the closing date, and any contingencies related to the sale.
- Sign and notarize the deed form: Both the seller and the buyer should sign the deed form in the presence of a notary public. The notary public will then affix their seal and signature to the document.
How to Get a Warranty Deed In Maryland
To obtain a special warranty deed in Maryland, the following steps should be taken:
- Get a copy of the form: You can find and fill out the free warranty deed form Maryland on the PDFliner website.
- Draft the special warranty deed form: With the assistance of your attorney, draft a special warranty deed form that includes all of the required information and language.
- Have the form signed and notarized: Once the special warranty deed form has been drafted, both the seller and the buyer should sign the document in the presence of a notary public. The notary public will then affix their seal and signature to the document.
- Record the special warranty deed: After the special warranty deed form has been signed and notarized, it should be recorded with the appropriate county land records office. This will ensure that the transfer of ownership is legally recognized
Common Uses Of Maryland Special Warranty Deed Form
A special warranty deed form Maryland can be used for a variety of real estate transactions in Maryland. Some common uses include:
- Selling a property that has been owned for a relatively short period of time, such as a flip or investment property
- Transferring ownership of a property from a business entity to an individual or vice versa
- Conveying property to a trust or estate
- Resolving title issues or disputes, as the special warranty deed only provides warranties for the seller's period of ownership and not for any prior defects.
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Fillable online Maryland Special Warranty Deed Form