A warranty deed is a legal document used to transfer property ownership from one party to another, offering important protections for both the buyer and the seller. Its primary function is to confirm that the seller holds full legal title to the property and that it is free from liens, debts, or other legal claims. This assurance is vital in real estate transactions, as it guarantees the buyer is receiving clear and undisputed ownership.
By including a detailed legal description of the property, a warranty deed plays a key role in ensuring a secure and transparent transfer. It helps prevent future disputes and gives buyers confidence in their investment.
The cost of a warranty deed can vary based on the property's location, type, and the complexity of the transaction. On average, fees range around $490, but they can reach $2,500 or more when handled by large law firms. Additional expenses, such as filing fees and attorney charges, may also apply. When preparing for a real estate transaction, it's important to factor these costs into your budget to help ensure a smooth and hassle-free process.