Virginia Warranty Deed

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What Is a Virginia Warranty Deed?

A Virginia warranty deed provides the highest level of protection to a buyer. It legally guarantees that the grantor holds clear title to the property, has the right to sell it, and that the property is free of undisclosed liens or encumbrances. The grantor promises to defend the grantee against any future claims to the title.

When to Use a Warranty Deed in Virginia

Warranty deeds are the standard instrument for traditional real estate sales. Common uses in Virginia include:

  • Standard residential and commercial real estate purchases between unrelated parties.
  • Transactions involving a title insurance company and mortgage lender, which almost always require a warranty deed.
  • Transfers where the buyer wants legal assurance against title defects or ownership claims.

Virginia Requirements for Warranty Deeds

  • Signing: The grantor must sign the deed.
  • Notarization: The grantor's signature must be acknowledged before a notary public.
  • Witnesses: Virginia requires 1 witness to sign the deed.
  • Recording: Record the deed at the Circuit Court Clerk in the county where the property sits.
  • Transfer Tax / Recording Fees: Virginia imposes a state grantor's tax of $0.25 per $100 (and an additional $0.15 per $100 in some areas), usually paid by the seller. Recording fees also apply.
  • Legal Description: A formal legal description must be included.

Warranty Deed vs Quitclaim Deed in Virginia

A warranty deed provides the grantee with a legal guarantee regarding the title and holds the grantor liable for title issues. A quitclaim deed, however, offers no such warranties; it simply transfers whatever interest the grantor has at that moment. Warranty deeds are for standard sales, while quitclaim deeds are usually for transfers between trusted parties or family members.

Frequently Asked Questions

Does a warranty deed prove I own the property in Virginia?

Yes, a recorded warranty deed is the standard legal proof of ownership. It shows that the property was transferred to you with guarantees of title.

Do I need title insurance if I have a warranty deed?

Yes, it is highly recommended. While the deed gives you the right to sue the grantor for title defects, title insurance ensures you have financial backing and legal defense without having to track down the grantor.

Where do I record a Virginia warranty deed?

Deeds are recorded at the local Circuit Court Clerk for the jurisdiction where the property is located.

Who pays the transfer tax on a warranty deed in Virginia?

The transfer tax is generally a state grantor's tax of $0.25 per $100. The responsibility for paying this tax is typically negotiated, though local custom often dictates the seller pays.

Can I draft a warranty deed myself?

While possible, it is not recommended for standard sales, especially in states with strict closing rules. Title companies or attorneys usually prepare these deeds to ensure accuracy and title insurance eligibility.