Bargain and sale deed

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A bargain and sale deed is in United States real property law, a deed "conveying real property without covenants".[1]

This is a deed "for which the grantor implies to have or have had an interest in the property but offers no warranties of title to the grantee."[2]

Under common law, this type of deed technically created a use (law) in the buyer who then gets title.[3] Under the Statute of uses, modern real property law disregards this subtle distinction.[citation needed]

A bargain and sale deed is especially used by local governments, fiduciaries such as executors, and in foreclosure sales by sheriffs and referees.[citation needed] The fact that it comes without any warranties from the government means that the new owner may not have good title.[citation needed] If in fact, the city did not have good title or the city could not convey good title, then the new landowner is unlikely to be successful in obtaining a refund of the purchase price.[4]

Some states require a specific form to be used.[5] Some states also allow a grantor (or seller) to add warranties. In such case, it may be called a bargain and sale with covenants deed.[6]

See also[edit]

References[edit]

  1. ^ Black's Law Dictionary, p. 46 (2001 edition).
  2. ^ Answers.com
  3. ^ Lawyers.com web site
  4. ^ See, e.g., justia.com, citing Winters v. County of Clatsop (2007).
  5. ^ Washington state official web site
  6. ^ World Law Direct web site