Quote:
Originally Posted by jinxor
If you buy a repossessed property from a bank and receive a special warranty deed, what happens when you sell the land? Do you again give the buyer a special warranty deed instead of a general warranty deed?
|
It is a negotiable contractual matter.
The NC Standard Offer To Purchase and Contract includes the General Warranty Deed as standard language.
I think most, if not all, Sellers just do that by default without thinking about it.
A good title search when buying is well-advised.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
