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Warranty Deed Subject to Debt

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Warranty Deed Subject to Debt Powered By Docstoc
					This is a document that transfers the title of real property from one party to another
subject to an encumbrance. This type of deed provides a guarantee that the transfer is
lawful, and requires the transferring party to defend against any claims of ownership.
However, the property is transferred along with a lien or encumbrance, such as a
vendor's lien or real estate lien. This document can be used by individuals or entities
that want to transfer the title of real property along with an encumbrance while providing
a guarantee of true and legal ownership.
                                      WARRANTY DEED

                                        (Subject to Debt)

STATE OF _________________

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 the “Grantor”, whether one or more, for and in
consideration of the sum of ________ ($___) [◊ Instruction: Insert the amount E.g., five
hundred dollars only ($ 500)] and other valuable consideration to the undersigned in hand paid
by the 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],
   _________________ 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 ________ ($___) [◊ Instruction: Insert the amount E.g., Fifty dollars only ($
   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],_________________
    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], _________________.
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 the 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 the 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],
_________________.




© Copyright 2012 Docstoc Inc.                                                           2
Signed on ______ [Month] __ [Date], 20___.




___________________________________

[Instruction: Insert signature of Grantor]




______________________________________________

[Instruction: Insert typed or printed name of Grantor]




© Copyright 2012 Docstoc Inc.                            3
                                          Exhibit A




    [Instruction: Insert legal description, address and all necessary things related to the
                                          property]




© Copyright 2012 Docstoc Inc.                                                       4
                                        ACKNOWLEDGMENT

STATE OF _________________

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 _________________

After recording, return to Grantee, at:

Grantee’s address:

_______________________________
_______________________________
_______________________________




© Copyright 2012 Docstoc Inc.                                                              5

				
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Description: This is a document that transfers the title of real property from one party to another subject to an encumbrance. This type of deed provides a guarantee that the transfer is lawful, and requires the transferring party to defend against any claims of ownership. However, the property is transferred along with a lien or encumbrance, such as a vendor's lien or real estate lien. This document can be used by individuals or entities that want to transfer the title of real property along with an encumbrance while providing a guarantee of true and legal ownership.