Collateral Warranty
COLLATERAL WARRANTY
In real estate transactions, an assurance or guaranty of title made by the holder of the title to the person to whom the property is conveyed.
Such a warranty is not the same as a covenant running with the land, since it runs only to a particular convenantee who accepts the land from the holder of title and not to each successive owner of the land upon taking ownership of it.
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Covenant , An agreement, contract, or written promise between two individuals that frequently constitutes a pledge to do or refrain from doing something.
The in… Easement , A right of use over the property of another. Traditionally the permitted kinds of uses were limited, the most important being rights of way and right… Warranty Deed , WARRANTY DEED
An instrument that transfers real property from one person to another and in which the grantor promises that title is good and clear of… Statute Of Uses , STATUTE OF USES
Anenglish lawenacted in 1535 to end the practice of creating uses in real property by changing the purely equitable title of those en… Terrier , terrier1 register of landed property. XV. — OF. terrier, sb. use of adj. :- medL. terrārius, f. L. terra land. Land Grants , LAND PATENTS. In English colonial America, the Crown made large grants of territory to individuals and companies. In turn, royal colonial governors l…
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Collateral Warranty