What does to forever warrant the title mean in a real estate contract?
I live in NYS and have spent the last 6 days researching our contract and am hung up on only one sentence I cannot find an answer to it. I need to know what "That said party of the first part will forever warrant the title" means?
There are essentially two types of deeds that can be delivered in this country concerning real property. The first is a quit claim deed. Where a person signs a quit claim deed to another person concerning property, the quit claim releases all title that the person who signs it may have. Potentially the person signing the quit claim deed may have no interests at all in the property being given up.
The second is a warranty deed. This is the best kind of deed that the person who receives a warranty deed can get. In a warranty deed, the person signing the deed "warrants" that he or she has free and clear good ownership title to the property being given to the other person.
You have a warranty deed, the best kind of the two. The person signing the deed forever agreed that the legal title to the property given to you was good to be given from the person signing the deed to you.