MAY 2023
Co
l l ab
o
e
ne
li
c
St r e a
m
nc
Ex e
ra
a
ut
te
e
te
KEEPING POSTED El e v
en h
OFFICIAL MONTHLY NEWSLETTER FOR SAN ANTONIO AREA REALTORS ®
IN THIS ISSUE:
What's My Deed Again?
•
Era of Entrepreneurship TIckets On Sale Now
•
Great SABOR Food Fight
In real estate, there are numerous types of real property deeds that can be part of a particular transaction. In Texas, some of the various types of deeds used in real estate transactions include:
•
What's My Deed Again?
•
•
San Antonio Home Sales
A General Warranty Deed: This type of deed provides the highest level of protection for the buyer, as the seller guarantees that they own the property and have the right to sell it. The deed also includes warranties that there are no encumbrances or claims on the property that could impact the buyer at the time of sale.
•
A Special Warranty Deed: A special warranty deed is like a general warranty deed, but it only provides warranties for the time that the seller owned the property. This means that the buyer is not protected against any defects that occurred before the seller took ownership of the property.
•
A Deed without Warranty: This type of deed provides no warranties or guarantees from the seller to the buyer. The seller simply transfers their ownership interest in the property to the buyer, and the buyer assumes any risks associated with the property.
•
A Quitclaim Deed: While not favored by Texas Courts, a quitclaim deed is used to transfer any interest in the property that the seller might have, but it does not provide any warranties or guarantees. Essentially, this type of deed doesn’t convey anything—just the relinquishment of the seller’s claims to or interest in the property—if they had any interest in the first place.
•
A Deed of Trust: A deed of trust is not technically a deed, but rather a document used to secure a loan on a property. The borrower transfers the legal title of the property to a trustee, who holds it as security for the loan. Once the loan is repaid, the title is transferred back to the borrower.
•
The last deed in our list is a Sheriff's Deed: A sheriff's deed is a type of deed that is issued when a property is sold at a public auction due to foreclosure or other legal action. The deed transfers ownership of the property from the former owner to the buyer, but it may not provide any warranties or guarantees.
•
SABOR Launches MLS Knowledge Base
Era of Entrepreneurship Tickets on Sale Now The San Antonio Board of REALTORS® wants you to be part of the biggest entrepreneur event of the summer. Era of Entrepreneurship aims to enhance one’s business through education, motivation and the perspective of self-made visionaries. This event is taking place on Thursday, July 6, 2023, at the Boeing Center at Tech Port. Why should you attend? Attending an entrepreneurship event can be a valuable experience for several reasons: 1. Learning from experts: The lineup of speakers includes Shark Tank's Daymond John, best-selling author Marki Lemons and social innovator & author Matt Vance! You can learn from their experiences, insights and advice on how to start and grow a successful business. 2. Networking opportunities: Entrepreneurship events are a great way to meet like-minded individuals who are also
interested in starting or growing a business. You can connect with potential partners, mentors, advisors and investors who can help you with your business goals. 3. Exposure to new ideas and trends: Entrepreneurship events are a great way to stay up to date on the latest trends, technologies, and best practices in the industry. You can learn about new business models, marketing strategies and technologies that can help you innovate and stay ahead of the competition. 4. Inspiration and motivation: Attending an entrepreneurship event can be a great source of inspiration and motivation. Seeing and hearing from successful entrepreneurs can help you overcome your own doubts and fears and give you the confidence and motivation to pursue your business goals. Don’t miss out! Early bird tickets are $125 and will go up to $150 beginning Thursday, June 1. Corporate tables are $1,150 and will go up to $1,350. VIP tables will remain at $1,500.
It's important to note the specific warranties for each type of deed. If you or your client have any questions regarding their deed or the deed that is transferring in your transaction, it's always a good idea to consult with a licensed real estate attorney or title company for guidance.
a