This Warranty Deed is used when a seller of real property located in Pennsylvania conveys ownership of the property to a buyer and warrants title to that property, but the deed is secured by a debt. This warranty deed effectively transfers the property to the buyer, but specifies that certain liens exist on the property. It provides details of the existing liens including the amount of the lien and recording information. In this warranty deed the seller promises to defend the buyer from all adverse claims relating to the property, but states that the liens are retained against the property until they are paid off. This document should be used in a real estate transaction where the seller warrants the property subject to existing liens.
Warranty Deed (Subject to Debt) This Warranty Deed can be used when an Individual conveys ownership of a property and ocstoc Legal Agreements warrants title to that property, but the deed is secured by a debt. ALL INFORMATION AND FORMS ARE PROVIDED “AS IS” WITHOUT ANY EXPRESS OR IMPLIED WARRANTY, INCLUDING AS TO LEGAL EFFECT OR COMPLETENESS. They are for guidance and should be modified by you or your attorney to meet your specific needs and the laws of your state. Use at your own risk. Docstoc, its employees or contractors who wrote or modified any form, are NOT providing legal or any other kind of advice and are not creating or entering into an Attorney-Client relationship. The information and forms are not a substitute for the advice of your own attorney. Subject to our Terms of Service (http://www.docstoc.com/popterm.aspx?page_id=15). See back cover page and read more here ® (http://www.docstoc.com/popterm.aspx?page_id=114) for additional disclaimers and more. 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Entire document © Docstoc, Inc., 2010, 2011 Attorney Drafted © Copyright 2011 Docstoc Inc. registered document proprietary, copy not 1 WARRANTY DEED (Subject to Debt) STATE OF Pennsylvania COUNTY OF _____________ [Instruction: Insert the County] KNOW ALL MEN BY THESE PRESENTS: THAT THE UNDERSIGNED, ___________________ [Instruction: Insert full legal name(s) of seller(s)], hereinafter referred to as “Grantor”, whether one or more, for and in consideration of the sum of ________ ($___) [◊Instruction: Insert the amount, e.g., five hundred dollars ($500)] and other valuable consideration to the undersigned in hand paid by Grantee herein named, the receipt of which is hereby acknowledged, has GRANTED, SOLD AND CONVEYED, and by these presents does GRANT, SELL and CONVEY unto ______________________ [Instruction: Insert full legal name(s) of grantee(s)], hereinafter referred to as “Grantee”, whether one or more, all of Grantor’s right, title and interest, in and to the real property, being Grantor’s separate property, hereinafter referred to as the “Property” described in “Exhibit A” attached hereto and made a part hereof: This conveyance, however, is made and accepted subject to that certain indebtedness described as follows: 1. Vendor’s Lien in Deed dated ______ [Month] ___ [Date], 20___, recorded in the real property records of _____________________ County [Instruction: Insert the County], Pennsylvania in ___________________________________________________________________________ ___________________________________________________________________________ [Instruction: Insert description that provides details where the Vendor’s Lien in Deed is formally recorded, such as volume and page number]; 2. Real Estate Lien Note, dated _____ [Month] ____ [Date], 20___, in the original principal amount of ________ ($___) [◊Instruction: Insert the amount, e.g., fifty dollars ($50)], executed by __________________________ [Instruction: Insert the name of person who executed] to __________________ [Instruction: Insert the name of person to whom executed], and secured by Deed of Trust of even date, to ________________________ [Instruction: Insert the name of trustee], Trustee, for the benefit of said lender, recorded in the real property records of __________________________ County [Instruction: Insert the County], Pennsylvania in ___________________________________________________________________________ ________________________________________________________________ [Instruction Insert description that provides details where the Deed of Trust is formally recorded, such as volume and page number], which indebtedness Grantee has not hereby assumed, and any and all other restrictions, encumbrances, easements, covenants and conditions, if any, relating to the hereinabove described Property as the same are filed for record in the real property records of ___________ County [Instruction: Insert the County], Pennsylvania. © Copyright 2011 Docstoc Inc. registered document proprietary, copy not 2 TO HAVE AND TO HOLD the above described Property, together with all and singular the rights and appurtenances and privileges thereto in anywise belonging, unto said Grantee, Grantee’s heirs, executors, administrators, successors and assigns forever; and Grantor does hereby bind Grantor’s heirs, executors, administrators, successors and assigns forever; and Grantor does hereby bind Grantor’s heirs, executors, administrators, successors and/or assigns to WARRANT AND FOREVER DEFEND all and singular the said Property unto said Grantee, Grantee’s heirs, executors, administrators, successors and/or assigns against every person whomsoever claiming or to claim the same or any part thereof. But it is expressly agreed that the Vendor’s Lien, as well as superior title in and to the Property, is retained against the Property and improvements until the above described Note and all interest thereon is fully paid according to the face, tenor, effect and reading thereof, when this Deed shall become absolute. It is further acknowledged that current ad valorem taxes on the Property having been prorated, the payment thereof is assumed by Grantee. EXECUTED this ______ [Month] [____] Date, 20___ but to be effective upon the date this instrument is filed for records of ___________ County [Instruction: Insert the County], Pennsylvania. Signed on ______ [Month] __ [Date], 20___. ___________________________________ [Instruction: Insert signature of Grantor] ______________________________________________ [Instruction: Insert typed or printed name of Grantor] © Copyright 2011 Docstoc Inc. registered document proprietary, copy not 3 Exhibit A [Instruction: Insert legal description, address and all necessary things related to the property] © Copyright 2011 Docstoc Inc. registered document proprietary, copy not 4 ACKNOWLEDGMENT STATE OF Pennsylvania COUNTY OF ________________________ Before me, the undersigned Notary Public, on this day personally appeared ___________________ known to me (or proved to me on the oath of ____________, or _______________) to be the persons whose names are subscribed to the foregoing instrument and acknowledged to me that they executed in the capacity set forth and for the purpose and consideration therein expressed. Given under my hand and seal of office this________ day of _________, 20_____. [Notarial seal, if any] _______________________________ NOTARY PUBLIC STATE OF Pennsylvania After recording, return to Grantee, at: Grantee’s address: _______________________________ _______________________________ _______________________________ © Copyright 2011 Docstoc Inc. registered document proprietary, copy not 5 Note: Carefully read and follow the Instructions and Comments contained in this document for your customization to suit your specific circumstances and requirements. You will want to delete the Instructions and Comments from open bracket (“[“) to close bracket (“]”) after reading and following them. You (or your attorney) may want to make additional modifications to meet your specific needs and the laws of your state ◊Where within this document you see this symbol: ◊ or an instruction states “Insert any number you choose◊,” or something similar, or there is a blank for the user to complete, please note that although Docstoc believes the information or number may be any that the user chooses, and that there is no law governing what the information or number should be, you might want to verify this, including by consulting with your own attorney practicing in your state, and be reasonable. INFORMATION AND FORMS ARE PROVIDED "AS IS" WITHOUT ANY EXPRESS OR IMPLIED WARRANTY OF ANY KIND INCLUDING WARRANTIES OF MERCHANTABILITY, NONINFRINGEMENT OF INTELLECTUAL PROPERTY, OR FITNESS FOR ANY PARTICULAR PURPOSE. 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