Q: What does this statement from a warranty deed mean?
What does this statement mean exactly in lay terms: ..."for $100,000 subject to easements and building and use restrictions of record and further subject to any encumbrances that have arisen under or through Grantee since September 2019, the date of the land contract pursuant to which this deed is given fulfillment of and termination of the land contract?"
The grantee is purchasing a property from the grantor. I want to know what exactly this statement entails? Does it mean the grantor no longer has any right to the property?
A: This is 'common boiler plate' language for a deed granted after payment in full on a land contract.
It means if the land contract buyer did something during the contract that may have impaired the title, the seller takes no liability for that.
If you don't understand what that means, you need to consult with an attorney in your area to get specific legal advice about how this may impact your situation.
There is nothing here that 'tingles my spidey sense' of something being amiss, but it is ALWAYS a good idea to hire an attorney to review your paperwork to insure you aren't entering into a situation that may cause issues!
-- This answer is offered for informational purposes only and does not constitute legal advice or create an attorney/client relationship.
I am licensed to practice in Michigan only. Please seek competent local legal help if you feel you need legal advice
A: It means that any real estate interest that you take from this grantor is subject to other claims or interests. A good real estate attorney will inquire into what these outside or external interests are and how they affect the ability of the grantor to provide clear title to the grantee, free and clear of any other claims or property interests. See more by going to www.ProvenResource.com
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