State-Specific Property Laws: Each state has its own real property laws, recording statutes, requirements for deed format and content, and local real estate transfer tax laws that must be considered when drafting a warranty deed.
Statute of Frauds: Legal requirement that the deed must be in writing, signed by the grantor, and must properly identify both the parties involved and the property being transferred.
Federal Laws: Includes FIRPTA (Foreign Investment in Real Property Tax Act) for foreign sellers and Fair Housing Act requirements to prevent discrimination in property transactions.
Title Requirements: Considerations for marketable title standards, chain of title verification, and investigation of any outstanding liens or encumbrances on the property.
Recording Requirements: State and county-specific requirements for recording deeds, including notarization and witness requirements which vary by jurisdiction.
Tax Considerations: Analysis of property tax proration, transfer tax obligations, and potential capital gains implications for the transaction.
Legal Description Requirements: Need for accurate property description and compliance with local surveying standards to properly identify the real property being conveyed.
Assignment Elements: Specific requirements for clear assignment language, detailed description of rights and obligations being transferred, and proper assignment acceptance provisions.
