I looked up my rental property to see if it is going under foreclosure....?

Question

When I looked it up the only info I got is that it is a WAR DEED property. What does that mean??

Answer 1

It most likely means that the property was purchased with a Warranty Deed. That indicates that whoever sold the house to the current owners guaranteed the title against a whole list of deficiencies.

A warranty deed can be compared to a quitclaim deed, in which the sellers transfer whatever interest they have in a property without guaranteeing the title is sound. Meaning, the title could come with other interested parties, liens, mistakes, etc., but the sellers are only transferring their interest instead of guaranteeing to the borrowers that the deed is sound.

The warranty deed you found just means that the current owners purchased the house on that date and were guaranteed good, transferable title by the previous owners. Nothing much to be worried about, but not a lot of information, either.

It doesn't tell you anything about current liens or foreclosure proceedings on the house. It's just recording how the property was transferred and when it was transferred. You'll need more information to determine if the house is in foreclosure.

Hope that helps.

ForeclosureFish