Legal Question in Real Estate Law in Indiana
we are purchasing a home with cash.it is a bank owned home. the deed will be a limited/specicalty deed at conveyence. how do we turn that deed into a general deed? all back taxes are up to date. and there are no liens on this property.
Asked on 7/08/10, 6:32 pm
2 Answers from Attorneys
Jay Rigdon
Rockhill Pinnick LLP
I have no idea what you mean by a "limited/speciallty" deed. As long as you obtain title insurance, the title company should insure you against any defects in title. You can then sign a warranty deed when you sell the property to the next party.
Answered on 7/09/10, 8:44 am
I agree with Jay. As long as you have title insurance, you will be protected and at a later date can convey the property with a warranty deed.
Answered on 7/10/10, 4:46 am
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