Final answer:
A general warranty deed is a legal document used in real estate transactions to transfer ownership of a property. It guarantees that the property being conveyed is free of any hidden liens, encumbrances, or other claims, providing the buyer with a higher level of protection.
Step-by-step explanation:
A general warranty deed is a legal document used in real estate transactions to transfer ownership of a property. It stipulates that the seller guarantees that the property being conveyed is free of any hidden liens, encumbrances, or other claims. This means that the buyer can have confidence that they are receiving clear and marketable title to the property, without any undisclosed issues that could affect their ownership rights.
For example, if a seller had taken out a loan using the property as collateral, a general warranty deed would protect the buyer from any potential liability or loss resulting from that loan. The seller would be responsible for resolving any outstanding liens or claims on the property.
Overall, a general warranty deed provides the buyer with a higher level of protection and assurance compared to other types of deeds, such as quitclaim deeds or special warranty deeds.