Statutory Warranty Deed: Fill & Download for Free

She is obligated to pay the property taxes. They are a lien on the property and can be foreclosed by the tax authority.However, it is unusual that she would have “just found out” about them after buying the house, because in most residential real estate transactions, the parties use title insurance companies to verify title and closing or escrow companies to close the transaction and make sure the title of the property conforms to the contract between the parties.So this says to me one or more of several things happened, all of which need to be explored before she decides what to do:She did obtain an owner’s title insurance policy, but the title insurer made an error and failed to note the past due taxes or, having correctly noted them failed to notice that the closing agent had not collected and paid any past due taxes before closing. In that case, the title insurance company will probably be obligated to reimburse her. That will depend on the exact wording of the policy, and on her following the exact procedure for making her claim.She did not obtain an owner’s title insurance policy but her commercial lender did, and the title company made an error on that policy or in verifying the closing agent’s payment of the taxes. Unfortunately, that does not protect her and the lender’s title policy will not insure her loss, since she has undoubtedly promised her lender in her loan documents to keep the property taxes current. In this case, she is in default of her loan, and the lender’s policy will only protect the lender if she walks away from the property.She paid cash or used a non-commercial lender (a family member or friend) and nobody obtained a title policy. In that case:If she used a commercial escrow or closing agent, and the escrow or closing instructions included a requirement that the agent determine property taxes and allocate them, the agent may be liable for failure to do that. That will depend on the exact wording of the instructions.If she did not use a commercial agent to close it, but her contract (purchase and sale agreement) with the seller included a promise that the seller would convey the property free and clear of the property taxes, she may have a valid claim against the seller. This will depend on two things:the case law in her particular jurisdiction. In some states, the purchase and sale agreement is considered fully executed (complete) upon transfer of the deed except for any provisions that expressly say that they survive closing.the type of deed the seller gave her. If the seller gave her a Quit Claim Deed, chances she has no claim against the seller. Even if the original contract included a requirement that the seller pay taxes, the acceptance of a Quit Claim deed would probably be considered a waiver of that requirement. A “Special” or “Bargain and Sale” Deed might go either way, depending on the jurisdiction. A Statutory Warranty Deed that does not list the taxes as an exception would put her in a very strong position against the Seller, since it “warrants” or guarantees that title is being conveyed free of any encumbrances except those listed.The property taxes owing are not really “past due” taxes, but taxes arising out of a change of use of the property or the termination of some exemption from taxes. In some jurisdictions, property taxes are reduced or deferred for some kinds of uses (agricultural, forestry, greenbelt easements, historical) and for some kinds of owners (elderly and disabled). When a sale happens, the new buyer must declare his/her intention to continue the special classification use or the discounts or exemptions are lost and sometimes, taxes that have been deferred for years come due as soon as the special classification status is lost. If the parties have not negotiated who is to pay those taxes, they will end up the buyer’s responsibility. An elderly or disabled discount will terminate immediately upon the sale, which may result in a recalculation of the remaining property taxes due for the year of sale, leaving a balance due that the closing agent could not collect for at closing but is still the buyer’s responsibility.Your mother should gather her purchase documents together, and if these do not include a title commitment or title insurance policy, she should order a title report from a local title company. This may be free or may involve a small fee. She should then go in to see a lawyer about this before she pays the taxes, and as soon as possible.The reason I recommend she not pay the taxes before she gets a title report and consults an attorney is because if the taxes haven’t been paid, it is possible other liens and encumbrances, possibly exceeding the value of the property, have also not been paid, or that some other errors have been made in this transaction. Before she sinks any more money into the property, she needs to make sure of all the possible problems she’s facing.Finally, even if she has claims against the seller, there is no guarantee that the seller has the money to satisfy her claims. This will not relieve her of her obligation to pay the taxes or risk losing her property.This is not intended to be legal advice, and no attorney-client relationship arises out of this or any other answer or comment I may make on Quora.

VARIOUS DEEDS… and their functions..? Good Question…Statutory Warranty Deed: (Per Statutory Regulations) This Deed conveys the ownership of the Grantor (giver) of Record, to a new Grantee (receiver). Unless otherwise stipulated, the SW Deed ALSO conveys ALL interests and mineral reservations if so reserved. The “Warranty” provision implies the Grantor will Warrant Title to the property and if needed, cooperate with the Grantee to Quiet Title, (return to acceptable condition). It is the Best Form of Deed to receive.Special Warranty Deed: This DEED conveys…just as the above SWD conveys, only the Warranty provision applies ONLY to items and/or issues that may have clouded the Title… DURING THE TIME THE GRANTOR actually OWNED THE PROPERTY. Problems occurring before the Grantor took Title to the property would have to be settled by a prior owner, or the Title Insurance Co.Quit Claim Deed: This Deed guarantees Nothing! All it does is to convey whatever position the Grantor has… to the Grantee… That’s All! Nothing More! No Prises… No Gifts… No Sweepstakes… No two-month vacations at an expensive Caribbean Resort…! Capische’ ?

Not really.It is basic contract law that an offer, once accepted, forms a contract (assuming the parties have capacity to contract, the contract is not illegal, and various other requirements). So if you offer to sell your property for a certain price and somebody purports to accept that offer and is willing to pay that price, that should form a contract.However, most if not all states have laws that require all contracts for the purchase and sale of real estate to be in writing, signed by both parties. Having a property on the market is not, in itself, a promise to sell.Besides that, a contract must also specify all relevant terms. For property contracts, that would include things such as conditions of title, dates of closing and possession, type of title to be transferred, and many others, so that there are no important terms that a court would have to assume or guess were intended. For example, if you offered to buy a house at the proposed listing price, would you expect to receive a quit claim deed for it or a statutory warranty deed? The former does not warrant that the seller has any title at all, and it could saddle you with a property loaded with mortgages, liens and unpaid taxes. Probably not what you intended, but a judge would have to take a guess, because the supposed contract, the offer and acceptance, do not spell out enough details.If the property is on the market through a real estate agent, however, receiving a full-price offer from a ready, willing and able buyer is usually enough to trigger the agent’s right to a commission. So if a seller gets an offer from such a buyer (someone who has the funds to buy or qualifies for financing and is willing to proceed) and refuses to go forward, the agent could demand payment of the commission and be legally justified in doing so.