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Statutory Warranty Deed

DEFINITION

Deed where the seller expressly warrants clean title of their property including the fact that they hold full interest of the property without other interest holders that have a claim to the property. Such a deed warrants the seller has the right to transfer ownership to a buyer and can defend against other claims.

EXPLANATION

A statutory warranty deed is a type of property conveyance and is generally thought of as a condensed warranty deed. The deed is permitted by a statute which will include the standard title agreements that are typically found in a warranty deed. It is important to note that a statutory warranty deed only concerns the title only and has nothing to do with the quality or improvements that have been made to the property.

Example of Statutory Warranty Deed

In the state of Washington, when a seller awards a statutory warranty deed, the seller is warranting three things:

At the time of forming and delivering a deed the seller has lawfully gained an indefeasible estate in fee simple, in regards to the premises that are mentioned, and also has the power and right to project the same

Free from all encumbrances or any hindrance

The seller warrants to the buyer the possession of the premises as well as defense against any other individual that may dispute that they are the lawful owners of the property

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