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Warranty Deed

Definition - What does Warranty Deed mean?

A warranty deed is one which passes from seller to buyer with the understanding that the seller has full legal ownership over the property and that there are no encumbrances against the property that the seller did not disclose. It is a legal validation of fact between a buyer and seller over specific points in a transfer or sale of property that clarifies the exact status of the property in question.

Justipedia explains Warranty Deed

If a warranty deed is made, then the seller is legally bound to the terms that are contained within it. If a person is dishonest in a warranty deed, they can be sued and held liable for any repercussions that happened as a result of the deception, as well as extra costs.

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