Question

What is the promise made by a grantor in a warranty deed regarding liens or encumbrances?

1) There are no existing liens or encumbrances mentioned in the deed.
2) All existing liens or encumbrances are mentioned in the deed.
3) There may or may not be existing liens or encumbrances against the property.
4) The grantor is not responsible for any existing liens or encumbrances.

Answer 1

The promise made by a grantor in a warranty deed regarding liens or encumbrances is that there are no existing liens or encumbrances mentioned in the deed. This promise provides the grantee with assurance that they are receiving a property free from any claims or rights of other parties. It is important for the grantor to fulfill this promise and for the grantee to conduct a title search to verify the accuracy of the warranty deed.

Step-by-step explanation:

The promise made by a grantor in a warranty deed regarding liens or encumbrances is that there are no existing liens or encumbrances mentioned in the deed.

A warranty deed is a legal document used in real estate transactions to transfer ownership of a property from a grantor to a grantee. The grantor guarantees that they have clear and marketable title to the property, meaning there are no existing liens or encumbrances that would affect the grantee's ownership rights.

This promise provides the grantee with assurance that they are receiving a property free from any claims or rights of other parties, and that they will not be held responsible for any existing liens or encumbrances on the property. It is important for the grantor to fulfill this promise and for the grantee to conduct a title search to verify the accuracy of the warranty deed.