Property Ownership
A Wisconsin 'special warranty deed' warrants against defects arising during the grantor's ownership only. This type of deed is commonly used by:
AIndividual homeowners selling their primary residence
BBanks, trustees, and fiduciaries who may not have full knowledge of prior title history✓ Correct
CFirst-time homebuyers
DDevelopers selling new construction
Explanation
Special warranty deeds are commonly used by banks, trustees, executors, and other fiduciaries who cannot warrant against defects that may have existed before their ownership period.
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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).
Title InsuranceInsurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
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.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
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