Escrow & Title
In Hawaii, a 'warranty deed' vs. a 'grant deed' are both deeds that:
AA. Are only used for commercial properties
BB. Transfer title with implied or express guarantees that the grantor has not encumbered the property beyond disclosed items✓ Correct
CC. Do not require notarization in Hawaii
DD. Are identical instruments with no legal distinction
Explanation
Both warranty deeds and grant deeds convey title with certain guarantees. Warranty deeds provide express covenants; grant deeds contain implied covenants that the grantor has not previously conveyed the property or created undisclosed encumbrances.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
Abstract of TitleA condensed history of a property's title, summarizing all recorded documents and encumbrances affecting it from the earliest record to the present.
Deed of TrustA security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
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