Not all deeds provide the same protections to a buyer.
Here are a few you’ll commonly encounter:
Warranty Deed: Generally provides the buyer with broader assurances from the seller regarding the title.
Special Warranty Deed: Generally provides more limited assurances, typically relating to the period when the seller owned the property.
Quitclaim Deed: Transfers whatever ownership interest the seller has in the property without making warranties about the title.
There are other types of deeds, and the terminology and legal effect can vary by state.
One important point: the type of deed and the condition of the title are not the same thing.
For example, receiving a quitclaim deed doesn’t automatically mean there’s something wrong with the title. Likewise, the word “warranty” on a deed doesn’t mean you should skip your normal due diligence.
If you’re unsure what a particular deed means, a title company or qualified real estate attorney can help.