Warranty Deed (Minnesota)
About this template
A Warranty Deed is a legal template specifically designed for the state of Minnesota. This document enlists the essential provisions and requirements necessary for transferring ownership of a property from a seller (grantor) to a buyer (grantee) with a guarantee that the property is free of any encumbrances. The Warranty Deed template includes details such as the parties involved, a comprehensive legal description of the property, the purchase price or consideration, and the conveyance clauses.
In the state of Minnesota, a Warranty Deed typically includes covenants or guarantees made by the grantor to the grantee. These covenants include:
1. Covenant of Seisin: This guarantee ensures that the grantor has legal ownership and the right to sell the property.
2. Covenant of Right to Convey: The grantor promises that they have the authority to transfer the property to the grantee.
3. Covenant Against Encumbrances: This provision certifies that the property is free from any liens, mortgages, or other encumbrances, excluding those that are explicitly stated in the deed itself.
4. Covenant of Quiet Enjoyment: It states that the grantee will possess the property without any interference or claims from other parties.
5. Covenant of Warranty: This guarantee binds the grantor to defend the grantee against any lawful claims made by third parties regarding the ownership of the property.
The Warranty Deed template may also include additional clauses as per the specific requirements of the parties involved or circumstances of the property transfer. It is crucial that both the grantor and grantee thoroughly review the deed and seek legal counsel if necessary before executing the document. Ultimately, the Warranty Deed is a legal instrument ensuring a secure transfer of property rights while providing protections to both parties involved in the transaction.