What is the difference between a local and global warranty?

What is the difference between a warranty special warranty and quitclaim deed?

• Answer:

  A general warranty deed or warranty deed is one where the seller guarantees there are no title defects, that she/he is the owner of the land and has the right to sell it. A warranty deed guarantees that there are no encumbrances except those recited in the deed. The deed itself is a warranty to that effect. A special warranty deed does not guarantee the title of the grantor is free of defects. A defect may include a missing interest in the back title. Also, the warranties under a special warranty deed are set by statute and vary from state to state. A quitclaim deed only conveys whatever title the grantor has, if any. A person quits all claim to a property in question. It delivers no guarantees or warrantees. It offers the least amount of protections. A quitclaim deed is often used when a party conveys their interest pursuant to a divorce decree, or when the grantor is not certain of the title to the property. The best deed for a grantee is a general warranty deed and every buyer of real property should have a comprehensive title examination performed by a professional prior to accepting delivery of any deed.