Statutory Deeds of Washington We know you are currently faced with questions from your clients regarding the differences between deed types. It is confusing and often times a difficult task to discuss these matters with your clients. Below is a brief explanation of the differences between deeds that we hope you find helpful. There are three deed forms approved for use by the Washington State Legislature. Real property may be conveyed via Warranty Deed, Bargain and Sale Deed, or Quit Claim Deed. A general explanation of the provisions for each deed form is provided on the back. Generally speaking, one main difference between the Warranty Deed and the Bargain and Sale Deed is as follows: When using a Warranty Deed to convey real property, the seller warrants to the buyer that title to the subject property is free from all liens and encumbrances, except those liens and encumbrances (if any) noted on the deed. When using a Bargain and Sale Deed to convey real property, the seller warrants to the buyer that title to the subject property is free from liens and encumbrances that the current seller created only. Unlike the Warranty Deed, there are no seller warranties to a buyer against liens or encumbrances created by anybody else. A Bargain and Sale Deed is commonly used when a bank has recently acquired title via foreclosure. This form of deed is also often used by a personal representative of an estate or a trustee that is acting as fiduciary for another party. The “Special Warranty Deed”: There is no statute that provides for a “Special Warranty Deed.” A Special Warranty Deed is a customized deed in which the warrants provided are generally the same as the Bargain and Sale Deed. Because this is not a statutory form, an escrow officer may not prepare a customized deed. If your purchase and sale agreement specifies “Special Warranty Deed,” an attorney will need to prepare the deed. Please contact your title officer with any further questions that you or your clients might have regarding deeds... as we are the experts. Put us into action to assist you and your clients with this confusing subject. Troy St. George
Nate Warwick
Randy McCrory
Sr. Title Officer 425-646-3515 tst.george@cwtitle.net
Sr. Title Officer 425-646-3510 natewarwick@cwtitle.net
Sr. Title Officer 425-646-8591 rmccrory@cwtitle.net
Teresa Hollenbeck
Nicole Harding
Sr. Account Manager 425-221-0066 thollenbeck@cwtitle.net
Sr. Account Manager 425-894-4599 nharding@cwtitle.net
Statutory Deeds of Washington Warranty Deed (RCW 64.04.030):......conveys and warrants The Seller/Owner/Grantor warrants the following: • • •
that at the time of the sale/conveyance, the seller held title to the property and had good right and full power to sell the property that the title was then free from all liens and encumbrances that the seller warrants to the buyer, their heirs and assigns, the quiet and peaceable possession of such premises, and will defend against all persons who may lawfully make a claim against the property
All of the above matters are limited by the exception of any defects noted on the deed.
Bargain and Sale Deed (RCW 64.04.040):......conveys and warrants The Seller/Owner/Grantor warrants the following: • • •
that at the time of the sale/conveyance, the seller held title to the property and had good right and full power to sell the property that title is free from liens and encumbrances that the seller created (except rents and services that may be reserved) that the seller warrants to the buyer, their heirs and assigns, the quiet enjoyment of such premises against the seller, and his heirs and assigns only (unless specifically limited in the deed itself)
Quit Claim Deed (RCW 64.04.050): ....conveys and quit claims This form of deed is used to convey the existing interest the seller has in title to a property, if any. Seller/Owner/Grantor: •
makes no warranty to the buyer for the condition of the title and has no responsibility to defend title on behalf of the buyer
Teresa Hollenbeck
Nicole Harding
Sr. Account Manager 425-221-0066 thollenbeck@cwtitle.net
Sr. Account Manager 425-894-4599 nharding@cwtitle.net