A Rhode Island special warranty deed is a legal instrument for conveying real estate that includes a warranty against any encumbrances made while the grantor held the title. However, if the grantee discovers claims incurred during the ownership of previous grantors after the conveyance, they will be solely responsible for defending their title.
Special warranty deeds are regularly used in commercial real estate transactions, foreclosure sales, or other instances where a grantor may be unfamiliar with a property’s history. By obtaining a property title under this type of deed, the grantee is assured of the grantor’s ownership and that the property has not been recently encumbered.
- Statutes: § 34-11-43 & § 34-11-44
- Formatting: § 34-11-1.1, § 34-11-1.2, § 34-11-1.4
- Signing Requirements (§ 34-11-1): Notary Public
- Where to Record (§ 34-13-1): The property’s city or town recording office.
- Recording Fees (§ 34-13-7): $80 + an additional $1 may be charged for each additional page. Rates are subject to the city or town’s local fee schedule (e.g., New Shoreham).
- Form A (Affidavit Attesting To The True And Complete Purchase Price): To be included with all deed filings in the town of New Shoreham. A fee of 3% of the property’s consideration must be paid by the grantee to the Block Island Land Trust.
- Property Disclosure Statement (§ 5-20.8-2): Used to provide an interested residential property buyer a report of the condition prior to sale.