Definition
A bargain and sale deed implies the grantor has possession and control but makes no explicit warranties about title. Commonly used in foreclosures and transfers by banks. Buyers should insist on title insurance.
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Bargain and sale deeds are traditional in certain regions and imply possession and control without express warranties. They're commonly used in foreclosures and transfers by banks or government entities. The language implies the grantor has some interest in the property but doesn't guarantee clear title. Buyers should insist on title insurance with bargain and sale deeds to protect against title defects.
Pro Tip
Title insurance is essential with bargain and sale deeds, which provide minimal explicit title protection.
Example
A foreclosed property conveyed through auction uses a bargain and sale deed, implying the bank's control but making no title warranties.