What is a statutory warranty deed and how does it affect a real estate dispute?

A statutory warranty deed is a form of deed commonly used in real estate transactions in Louisiana. It serves as an assurance from the seller that the property is being sold without any encumbrances and that the title is free and clear of any claims or liens. A statutory warranty deed also allows the buyer to seek damages from the seller in the event some claim or lien arises after the sale. In the event of a real estate dispute, a statutory warranty deed can provide some measure of security to both the buyer and the seller. The deed serves as evidence that the seller properly conveyed the title and is legally responsible for any encumbrance that arises after the sale. This can be a valuable asset in the event of a dispute, as it may provide leverage to either the buyer or seller in getting the other side to settle the claim. In addition, a statutory warranty deed also grants certain legal rights to the buyer in the event of a real estate dispute. Specifically, the buyer can seek to exercise the warranty clause of the deed and sue the seller if any encumbrance or lien is found to affect the title of the property. In such a case, the buyer may be able to recover any damages caused by the seller’s breach of warranty. This can be an invaluable asset in a real estate dispute, as it can provide financial compensation to the buyer for the damages they incurred.

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What is a statutory warranty deed and how does it affect a real estate dispute?

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