W.D. Vs. G.D.

Can someone explain to me the difference between a warranty deed vs. a grant deed. which one is better for sub2 on preforeclosure?

Comments(4)

  • HowardMac15th August, 2003

    Hi

    Can evenbody explain to me what a sub2
    on preforeclosure means?

  • drokefe115th August, 2003

    If I am not mistaken a Grant deed is a warranty deed, someone correct me if i'm wrong! -Dave-

  • GWmson15th August, 2003

    drokefe1 is right.

    This is what I dug up about grant deeds.

    A grant deed is the most common type of deed used to transfer property from a seller to buyer. Grant deeds are used for properties that are mortgaged and not mortgaged. Upon closing of the property's purchase/sale, the title company records the grant deed at the county courthouse and sends the buyer the original in the mail. In order to use a grant deed, the property must be clear of any claims.

    A warranty deed is the same thing, its just a deed with language giving the buyer a warranty against any other claims or liens arising from the sell of it.

    For preforeclosures you should probably just use a deed of trust since more often than not, you will buy it knowing that its got liens and mortgages on it.
    hth,
    G[ Edited by GWmson on Date 08/15/2003 ]

  • MrsMeltzer17th August, 2003

    Grant Deeds and Warranty Deeds are similar, the difference is that different states use different deeds.

    Example:
    Georgia uses Warranty Deeds
    California uses Grant Deeds

    Go to your local county courthouse and see which deeds are used in your state!

    Hope This Helps,
    Mrs. Meltzer

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