 | This article needs additional citations for verification .(August 2007) |
In United States real property law, a bargain and sale deed is a deed "conveying real property without covenants". [1]
| Property law |
|---|
 |
| Part of the common law series |
| Types |
| Acquisition |
| Estates in land |
| Conveyancing |
| Future use control |
| Nonpossessory interest |
| Related topics |
| Other common law areas |
Higher category: Law and Common law |
This is a deed "for which the grantor implies to have or have had an interest in the property but offers no warranties of title to the grantee." [2]
Under common law, this type of deed technically created a use in the buyer who then gets the title. [3] Under the statute of uses, modern real property law disregards this subtle distinction. [ citation needed ]
A bargain and sale deed is especially used by local governments, fiduciaries such as executors, and in foreclosure sales by sheriffs and referees.[ citation needed ] The fact that it comes without any warranties from the government means that the new owner may not have a good title.[ citation needed ] If in fact, the city did not have a good title or the city could not convey a good title, then the new landowner is unlikely to be successful in obtaining a refund of the purchase price. [4]
Some states require a specific form to be used. [5] Some states also allow a grantor (or seller) to add warranties. In such case, it may be called a bargain and sale deed with covenants. [6]
