Which deed implies limited warranties only for the period of the grantor's ownership?

Prepare for the Metro Brokers Exam with flashcards and multiple choice questions. Each question is accompanied by hints and explanations. Get ready for your certification!

A special warranty deed is designed to provide limited warranties, specifically indicating that the grantor only warrants the title against claims or defects that may have arisen during the period of their ownership. This means that the grantor is not responsible for any issues that may have existed prior to their ownership of the property. It protects the grantee (the person receiving the property) only to the extent of the time that the grantor held ownership, making it distinct from other types of deeds.

In contrast, a general warranty deed offers broader assurances, guaranteeing the title against any defects, regardless of when they occurred, providing a stronger level of protection for the grantee. A quitclaim deed, on the other hand, provides no warranties at all; the grantor simply conveys whatever interest they may have, if any, without making any guarantees about the title's validity. Similarly, while a grant deed is a type of deed that generally conveys property and warrants that the property has not been sold to anyone else, it typically does not limit its warranties to the period of the grantor's ownership as a special warranty deed does. Thus, the special warranty deed is the correct answer as it specifically implies limited warranties only for the duration of the grantor's ownership.

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