An Arkansas special warranty deed is a property conveyance instrument where the seller provides warranties of title that only apply to their period of ownership. The buyer is assured that the property was not encumbered by the seller or transferred to another party.
This deed is often used in commercial property transfers or on foreclosed properties that the bank is selling. Buyers may wish to purchase title insurance to protect themselves from any potential title defects made by prior owners.
- Statutes: § 18-12-102
- Arkansas Real Property Tax Affidavit of Compliance Form: Per the Department of Finance and Administration, a Real Property Transfer tax must be paid for any conveyance exceeding a price of $100. This form must accompany the deed with payment or a note of exemption.
- Formatting: § 14-15-402(b)(1), §
- Signing Requirements (§ 18-12-104 & § 18-12-201): Notary Public and Two (2) Disinterested Witnesses
- Where to record (§ 14-15-404(a)(1)): Circuit Court
- Recording fees (§ 21-6-306(a)): $15 for the first page, $5 for each additional page