Types of Land Deeds
Even if you don’t buy from us, here’s what you need to consider:
So you are thinking about buying some land? Maybe you have even gone so far as to pick out a great location near your favorite lake or golf course. As you probably know, there are numerous things to consider when buying real estate but there is one question you should ask your seller before you even think about making a purchase: “What kind of Deed am I getting?” Say you have found your Dream Home Site Location and you are ready to start the next, new adventure in your life. If your purchase does not include Clean, Clear Title to your new property, you could end up with a LOT of headaches and your brand new dream could turn into a long, drawn-out nightmare.
We at American Land Company KNOW land deeds and understand what it takes to properly convey Clean, Clear Title with your property. In fact, in the past 10 years that American Land Company has been in business, we have sold properties to thousands of satisfied customers across the U.S. and from all over the world. Every one of them by Full Warranty Deed. Every one of them with Clean, Clear Title. If your seller says you are getting anything other than a Warranty Deed, you need to educate yourself on what exactly it is that you are getting. Knowing the definitions of the different types of deeds that are out there will help you understand your rights as a new land owner.
Below we have provided brief descriptions of the types of deeds. If you have any questions at all, call us at 870-257-2173. We will be happy to answer any of your questions.
Types of Deeds Common in Arkansas
Warranty Deed with Title Insurance: This is the most common conveyance in Arkansas. The seller guarantees the Title and the Buyer receives an insurance policy issued by a State licensed Title Insurance company to protect the Buyer’s investment. This is the best protection a Buyer can get.
Warranty Deed: The Seller guarantees the Title is good. This protects the Buyer provided the Seller is still in business if a problem arises. If there is a problem with the Title and the Seller is not in business or can’t be found it will be the Buyers expense to fix the problem. This is good but not as good as also having Title Insurance.
Special and/or Limited Warranty Deed: The Seller is only guaranteeing that the Seller did nothing to adversely effect the Title while the Seller owned the property. This doesn’t protect the Buyer against problems that occurred prior to the Seller acquiring the property. This type of conveyance is frequently used by Seller’s that know or suspect there is a problem with the Title. This is a gamble for the Buyer.
Quitclaim Deed: The Seller is transferring to the Buyer whatever claim, if any, the Seller has to the property and is making no guarantee of anything. If someone was selling you the Brooklyn Bridge this is the type of deed they would use.
Every Property we sell comes with a Full Warranty Deed
Don’t take the risk some sellers offer when they only give you a “Special Warranty Deed” or “Quit Claim Deed”. When you buy from American Land Company, you get Clean, Clear Title by a Full WARRANTY DEED that is stamped and recorded at the County Courthouse.