In contrast to a general warranty deed, a special warranty deed limits the liability of the grantor by warranting only what the deed explicitly states. Under the doctrine of after-acquired title, if a grantor attempted to convey title to land that he or she did not in fact own, but later obtains the legal title to that property, the property is held in trust for the prior grantee, and the conveyance is treated as if the grantor owned the legal estate at the time of the conveyance. The general warranty deed also conveys after-acquired title to the grantee. Third, the grantor warrants that he or she will defend title to the estate so that the grantee and the grantee's heirs and assigns may enjoy quiet and peaceable possession of the premises with the power to convey the property.
ELEMENTS OF LEGAL CONVEYANCE OF REAL PROPERTY FREE
Second, the grantor warrants that the property is free from all encumbrances. First, the grantor warrants that the grantor is the lawful owner of an indefeasible interest in the estate at the time the deed is made and delivered and that the grantor has the right to convey the property. The use of this statutory form binds the grantor to several covenants that do not need to be specified in the deed. If a deed is intended to be a general warranty deed, it should contain the phrase "conveys and warrants" as provided in the statutory form. Deeds of conveyance made in substantially the same statutory form are deemed a conveyance in fee simple to the grantee, the grantee's heirs and assigns, with covenants on the part of the grantor unless the deed contains words of limitation. Illinois statute 765 ILCS 5/9 sets forth a form for the general warranty deed.
There are two types of warranty deeds: general and special. This article will explore the differences between warranty and quitclaim deeds, the elements of deeds in general, the necessity of having deeds notarized and recorded, and the elements of recordation. Two of the most common types of deeds are the warranty deed and the quitclaim deed. To handle even the most simple real estate transactions, attorneys must have a basic understanding of the law of deeds. DEED ELEMENTS AND RECORDING REQUIREMENTS IN ILLINOIS
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