assignment and warranty of title

How to Sign an Assignment of Title by a Registered Owner

When you're ready to sell a car, sign the Assignment of Title by Registered Owner to get the buyer on his way to transferring the title into his name. Most states require the Assignment of Title -- which can be found on the back of your personal title -- as proof that the sale is legitimate. Signing the Assignment of Title by Registered Owner should take mere minutes. Once it's gone, your vehicle is as good as registered to someone else.

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Flip over your car title to find the Assignment of Title by Owner.

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Print your name, the date you're selling the vehicle and the price of the sale.

Fill in the odometer reading, if necessary. In Tennessee, for example, an odometer reading is only required on vehicles newer than 10 years.

Sign your name as the seller, where indicated.

Give the form to the buyer. She should fill out her name and address and then sign as the buyer.

Bring the Assignment of Title by Registered Owner to the office that issues new motor vehicle titles. In Virginia, for example, it's the Virginia Department of Motor Vehicles.

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• Warranty of Title

Warranty of Title: Definition and How it Works

Last Updated: November 15, 2023 by Cameron Smith

A warranty of title ensures the current owner (known as the “grantor”) has the legal ability to transfer the ownership rights of real property. The majority of real estate transactions require a warranty of title before a transaction can occur to guarantee protection to the new owner (known as the “grantee”).

What is a Warranty of Title?

A warranty of title promises that no other entities have any legal claims on the property in the form of liens. This is referred to as a “clear title” and is generally required before a sale can be made.

The grantor, in most cases, must pay off any outstanding liens before transferring ownership through a sale. If there are any liens imposed on the property, a warranty of title cannot be executed. The most common type of liens includes tax liens, mechanical liens, and mortgage liens.

The grantee would be able to take legal action against the grantor if a lien was imposed when transferring the property.

What Does the Warranty of Title Protect Against?

A warranty of title can protect against other risks that make the property less valuable, such as:

• Property line disputes.   Conflict of the boundary lines or survey discrepancies.
• Unresolved probate issues.   Inheritance or challenges of a will.
• Unknown mortgages.   Additional mortgages taken out on the property that have not been disclosed.

This list is not exhaustive and there could be other legal restrictions on the grantor’s right to transfer the property to the grantee.

Providing a Warranty of Title

A warranty of title is provided in addition to a warranty deed when conducting real estate transactions. A warranty deed is a physical document that promises a clear title to the property.

Since the grantor is the one getting compensated for the transfer of property, the warranty of title is traditionally provided by them.

Does the Seller Have to Provide a Warranty of Title?

Yes, in formal arrangements the grantor has to provide a warranty of title. This is required when a warranty deed is used to guarantee ownership rights to the grantee.

What if the Seller Cannot Provide a Warranty of Title?

If the grantor cannot provide a warranty of title, then the real estate transaction usually cannot take place. Many lenders will not lend money on a property without a clear title, and most grantees would not continue with this purchase even if financing is not involved.

At this point, there are two options to complete the deal:

• The grantor must first handle the lien and ensure a clean title
• A different deed, such as a quitclaim deed, must be used.

When is a Warranty of Title Not Used in a Property Transfer?

A warranty of title is not used in a property transfer that utilizes deeds other than a warranty deed. Examples where a warranty of title is not used include:

• Quitclaim deeds .   Used among family or close friends.
• Life estate deeds.   Become effective once a person passes away.
• Sheriff’s deeds.   A sheriff’s sale in which foreclosed property is auctioned off by court-order.

These types of deeds do not require a clean title and may be more efficient in transferring property rights.

Other Property Management Resources

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Home » Warranty of Title

Warranty of Title

Jeramie Fortenberry

Attorney (J.D., LL.M.)

Last updated May 09, 2023

Table of Contents

What is a Warranty of Title?

A warranty of title is a guarantee from the person transferring the property ( grantor ) that the grantor owns the property and that the property is clear of liens, mortgages, or other encumbrances that may affect ownership (other than those disclosed in the deed).

The guarantee provided by a warranty of title are made in the deed and, as discussed below, depend on the deed form. If the guarantee turns out to be false, the person receiving the property ( grantee ) can sue the grantor for breach of the warranty of title.

What Warranty of Title Do I Need?

In most cases, the risks insured by a warranty of title are unknown . The warranty of title determines who is responsible if an unknown title issue surfaces at a later time. A deed that contains a warranty of title places risk on the grantor. A risk with no warranty of title places risk on the grantee.

Because it is ultimately up to the parties to determine who will bear risk for unknown title problems, there are no firm rules. But there are a few common patterns involving deeds to real estate:

• Most deeds provide no warranty of title if the property is being transferred as a gift between family members or others that are in a close personal relationship. Because the grantor is not receiving anything of value for the deed, most parties feel that it is appropriate for the grantee to bear the risk of title issues. A quitclaim deed or deed without warranty is used to transfer property with no warranty of title.
• Deeds that take effect at death—including TOD deeds , lady bird deeds , and life estate deeds —are almost always transferred without a warranty of title.
• Most deeds used in sales to unrelated parties use a full (general) warranty of title or a limited (special) warranty of title . Since the grantor is being compensated for the deed, most parties feel like the grantor should bear some responsibility for ensuring that the grantee receives good title. A general warranty deed is used to transfer property with an unlimited warranty of title. A special warranty deed (also known as a grant deed , covenant deed , or limited warranty deed —is used to provide a warranty of title that is limited to the time that the grantor owned the property.

These guidelines may help determine what warranty of title you need for your deed.

What Risks do the Warranty of Title Protect Against?

The warranty of title protects against risks that would make the property less valuable to the grantee. Common risks include:

• Any liens that arose while the grantor or prior owners owned the property, including liens for unpaid property taxes or Federal income taxes;
• Any boundary line disputes or survey discrepancies associated with the property;
• Any undisclosed mortgages against the property;
• Any prior conveyances of the property to others;
• Any legal restrictions on the grantor’s ability to convey the property;
• Any unresolved probate or inheritance issues resulting from deceased property owners.

Property with any of these characteristics is said to have unclear title . Unclear title can require costly legal action to resolve. These built-in costs make the property less valuable and often unsellable. The warranty of title protects against these risks by guaranteeing that the grantee has clear title and giving the grantee the ability to sue the grantor if there is a title problem.

Relationship of Warranty of Title to Deed Type

When a deed is used to transfer real estate , the deed must identify whether the deed includes a warranty of title and, if so, the extent of the warranty. The three most common deed forms are quitclaim deeds, warranty deeds, and special warranty deeds. The difference between these types of deeds has to do with warranties of title.

Warranty of Title Provided by a Quitclaim Deed, No Warranty Deed, or Deed Without Warranty

A quitclaim deed —sometimes referred to as a quit claim deed or erroneously as a quick claim deed —makes no promises about the title to the property. By signing a quitclaim deed, the grantor transfers whatever interest the grantor has to the grantee. But the grantor does not guarantee that the grantee will receive clear title. If it turns out that the grantor did not have clear title—or even if the grantor had no interest in the property at all—the grantee has no legal recourse against the grantor.

In a few states—including Texas and North Carolina—title insurance companies disfavor quitclaim deeds and prefer a type of deed called a deed without warranty or no warranty deed . A deed without warranty serves the same purpose as a quitclaim deed. It transfers property from the grantor to the grantee without a warranty of title. But unlike a quitclaim deed, the deed without warranty includes particular language that is required in states that disfavor quitclaim deeds. This special language helps clarify that the deed is a transfer—and not just a release—of real estate.

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Because quitclaim deeds or deeds without warranty provide no warranty of title, they are most often used outside of the commercial context. Common situations include:

• The deed is a gift of the property, and the grantor is not comfortable with a warranty;
• Removing one spouse from the property so that the other spouse can deal with the property without spousal involvement;
• Removing a spouse from property following a divorce ;
• The grantor is not sure that he or she owns or has clear title to the property; or
• The purpose of the deed is to remove someone’s name or clarify that the person doesn’t have an interest in the property.

Warranty of Title Provided by a General Warranty Deed

A warranty deed form —also known as a general warranty deed—provides a full warranty of title and is the most favorable to the grantee. By signing a warranty deed, the grantor makes an absolute guarantee that the grantor owns the property, has the right to convey it, and will defend the title against anyone that asserts a claim against the property.

Warranty deeds are sometimes used when:

• The buyer is paying consideration for the property (i.e., the transfer of the property is not a gift) and wants assurance about the seller’s title to the property;
• The deed is transferring title to commercial (non-residential) property; or
• The buyer does not intend to purchase title insurance and wants the seller to be liable for any title issues.

Warranty deeds may also be used in other contexts, depending on state law and local custom.

Warranty of Title Provided by a Special Warranty Deed, Limited Warranty Deed, Grant Deed, or Covenant Deed

As discussed above a warranty deed provides a full warranty of title and a quitclaim deed (also known as a no warranty deed or deed without warranty ) provides no warranty of title. There is a third form of deed that provides a middle ground. Depending on state law and local custom, this third type of deed may be called a special warranty deed , limited warranty deed , grant deed , or covenant deed . Each of these names refers to the same type of deed: A deed that provides a warranty of title that is limited to the time that the grantor owned the property. (For ease of reference, special warranty deed is used in this article, but the term should be read to include each of the other names for this type of deed.)

Special warranty deeds are similar to warranty deeds in that they provide the grantee with assurance that the grantor has clear title to the property. But the warranty provided by a special warranty deed is more limited than the warranty provided by a warranty deed. A special warranty deed only guarantees that the grantor has done nothing to cause a title defect while the grantor owned the property . The special warranty deed makes no guarantees about what may have happened before the grantor acquired the property.

A special warranty deed is a middle-ground alternative that is very popular in some states, including California . special warranty deeds are often used in the following contexts:

• The grantor is transferring property to or from a trust or business;
• The grantor is making an outright transfer to a non-family member;
• The deed adds or removes a co-owner; or
• The deed changes the form of co-ownership .

A grantor should not use a special warranty deed if he or she is unsure whether he or she has done anything that might cause a title defect. In that situation, a quitclaim deed could be a better choice.

Warranty of Title Provided by a Life Estate Deed, Lady Bird Deed, or Transfer-on-Death Deed

A life estate deed (including an enhanced life estate or ladybird deed ) is a type of deed that divides ownership between future categories of owners. Whether or not a deed qualifies as a life estate deed or lady bird deed is a separate issue from the warranty of title used on the deed. For example, a life estate deed may be a warranty deed, special warranty deed, or quitclaim deed, depending on the warranty of title.

For most deeds, the parties can decide whether to include a warranty of title and the extent of that warranty. But this is not always the case. Transfer-on-death deeds (known in some states as TOD deeds , TODDs , or beneficiary deeds ) include no warranty of title even if the deed says otherwise. Both the California transfer-on-death-deed statute and the Texas transfer-on-death deed statute provide that the person who inherits property by transfer-on-death deed receives no warranty of title, even if the deed’s language appears to grant a warranty of title.

Relationship of Title Insurance to Warranty of Title

Although the warranty of title is an integral part of modern real estate transfers, it plays less of a role than it did in the past. In recent years, title insurance has supplemented—and sometimes replaced—the protection provided by a warranty of title. Title insurance can be beneficial to both the grantor and the grantee.

• It protects the grantor by giving the grantee a different recourse if an unknown title issue arises.
• It protects the grantee by providing a solvent insurance company that the grantee can look to if there is a problem with title.

Because title insurance companies conduct extensive due diligence before issuing a policy, it also helps ensure that any problems are discovered before the transfer takes place.

Title insurance is most often used in the sale context, especially when financing is involved. Lenders invariably require a lender’s title policy as a condition of a mortgage. In the gift or family transfer context, title insurance is less common.

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8.2 Warranties and Sales Contracts

A warranty is a guarantee on the good that comes as part of the sales contract, but contract law treats warranties as an additional form of contract that binds the selling party to undertake a certain action. Typically, the selling party has an obligation to provide a product that achieves a specified task, or to deliver a service that meets certain minimal standards. Warranties are offered for a range of different goods and services, from manufactured goods to real estate to plumbing services. The warranty assures the buyer that the good or service is free from defects, and it is a legally binding commitment. In the event that the product or service fails to meet the standards set out in the warranty, then the contract provides a specific remedy, such as a replacement or repair.

According to UCC 1-203, the performance and execution of all contracts must be undertaken in good faith. Good faith means honesty in fact and the observance of reasonable commercial standards of fair dealing. If the parties in the contract are merchants, the UCC also requires that the contract be undertaken in accordance with commercial reasonableness. This requirement means that the transaction should be undertaken in a sensible and prudent way.

Express and Implied Warranties

Warranties can be express, implied, or both. Both express and implied warranties provide legal relief for the purchaser in the event of a breach of contract.

An express warranty is one in which the seller explicitly guarantees the quality of the good or service sold. Typically, the vendor provides a statement, or other binding document, as part of the sales contract. What this means in practice is that the buyer has engaged in the contract on the reasonable assumption that the quality, nature, character, purpose, performance, state, use, or capacity of the goods or services are the same as those stated by the seller. Therefore, the sales contract is based, in part, on the understanding that the goods or services being supplied by the seller will conform to the description, or any sample, that has been provided.

There are myriad ways in which the seller can make statements as to the characteristics of the goods.

Here are a few examples of express warranties:

“Wrinkle-free shirt”

“Lifetime guarantee”

“Made in the USA”

“This orange juice is not from concentrate”

There is not a specific way that words must be formed to make an express warranty valid. Importantly, the sales contract does not need to explicitly state that a warranty is being intended. It is enough that the seller asserts facts about the goods that then become part of the contract between the parties. However, the courts do apply a reasonableness test of reliance upon warranties. Puffery, or language used to bolster sales, is lawful, and the consumer is required to apply reason when evaluating such statements. For example, buyers are expected to use reason when judging seller claims such as “this sandwich is the best in the world.” Obvious sales talk cannot ordinarily be treated as a legally binding warranty.

A breach of the warranty occurs when the express warranty has been found to be false. In such circumstances, the warrantor is legally liable just as though the truth of the warranty had been guaranteed. The courts do not accept as a defense:

• Seller claims the warranty was true.
• Seller claims due care was exercised in the production or handling of the product.
• Seller claims there is not any reason to believe that the warranty was false.

Implied Warranties

In certain circumstances where no express warranty was made, the law implies a warranty. This statement means that the warranty automatically arises from the fact that a sale was made. With regard to implied warranties, the law distinguishes between casual sellers and merchant sellers, with the latter held to a higher standard, given that they are in the business of buying or selling the good or service rendered. For example, unless otherwise agreed, goods sold by merchants carry an implied warranty against claims by any third party by way of trademark infringement, patent infringement, or any other intellectual property law infringement. This type of warranty is known as the warranty against infringement. Another implied warranty provided by merchant sellers is the warranty of fitness for normal use , which means that the goods must be fit for the ordinary purposes for which they are sold.

It is important to note that if express warranties are made, this does not preclude implied warranties. If an express warranty is made, it should be consistent with implied warranties, and can be treated as cumulative, if such a construction is reasonable. If the express and implied warranties cannot be construed as consistent and cumulative , the express warranty generally prevails over the implied warranty, except in the case of the implied warranty of merchantability , or fitness for purpose.

Breaches of Warranty

If the buyer believes that there has been a breach of the implied warranty of merchantability, it is their responsibility to demonstrate that the good was defective, that this defect made the good not fit for purpose, and that this defect caused the plaintiff harm. Typical examples of defects are:

• Design defects
• Manufacturing defects
• Inadequate instructions on the use of the good
• Inadequate warning against the dangers involved in using the good.

Specific Examples of Goods Under the Warranty of Merchantability

The buyer might intend to use the goods purchased for a different purpose than that for which it was sold. In this case, the implied warranty holds only if the buyer relies on the seller’s skill or judgment to select the product, the buyer informs the seller at the time of purchase of his or her intention for the use of the good, and the buyer relies on the seller’s judgment and skill in making the final choice. If the seller is not made aware of the buyer’s true intention, or does not offer his or her skill and judgment in aiding the sale, then warranty of fitness for a particular purpose does not arise. For this reason, it is common for vendors to include provisions in the average terms and conditions of sale with regard to the true and intended purpose of use.

Warranty of Title

By the mere act of selling, the vendor implies a warranty that the title is good and that the transfer of title is lawful. In addition, the act of the sale creates a warranty that the goods shall be delivered free from any lien of which the buyer was unaware. In some circumstances, the warranty of title can be excluded from the contract documents. For instance, when the seller makes the sale in a representative capacity (e.g. as an executor of an estate), then a warranty of title will not arise.

Remedies to Buyers under the UCC

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Warranty Of Title: Definition, Significance, And Applications

Last updated 03/15/2024 by

Fact checked by

What is warranty of title?

Understanding warranty of title, types of deeds, how a warranty of title is used in transactions, risks in transactions, clear title, the bottom line.

• Assures clear property ownership
• Provides legal recourse for buyers
• May complicate transactions with unclear titles
• Does not apply in certain sales scenarios

Frequently asked questions

What does a warranty of title guarantee, are all deeds accompanied by a warranty of title, when might a warranty of title not exist, how does a warranty of title protect buyers, can a warranty of title be voided, key takeaways.

• A warranty of title ensures the legal right of a seller to transfer property.
• Clear titles enhance the effectiveness of a warranty of title.
• Buyers may lack protection in transactions involving deeds without a warranty of title.
• Legal recourse is available to buyers through a warranty of title in case of disputes.
• Understanding the risks and benefits is crucial when dealing with warranties of title.

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What Is an Affidavit of Title?

• How It Works

Special Considerations

• Affidavit of Title FAQs
• Home Insurance
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What Is an Affidavit of Title? Definition, Purposes, Contents

Erika Rasure is globally-recognized as a leading consumer economics subject matter expert, researcher, and educator. She is a financial therapist and transformational coach, with a special interest in helping women learn how to invest.

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An affidavit of title is a legal document provided by the seller of a piece of property that explicitly states the status of potential legal issues involving the property or the seller. The affidavit is a sworn statement of fact that specifies the seller of a property holds the title to it. In other words, it's proof that the seller owns the property.

Key Takeaways

• An affidavit of title is a notarized, legal document provided by the seller of a piece of property attesting to the status of and certain facts about the property, including ownership and the presence of any legal issues.
• An affidavit of title is designed to protect the property's buyer, as the buyer may be liable for pending legal matters tied to a property.
• The affidavit must contain personal information on the seller as well as statements regarding the suitability and status of the property.
• If there is a lien on the property, the seller may choose to satisfy the lien requirements to have the title re-issued and "cleaned".
• Most states and title companies require affidavits of title in real estate transactions.

Understanding an Affidavit of Title

An affidavit of title is designed to protect the buyer from outstanding legal issues that might be facing the seller. If an issue arises after a transaction, the buyer has possession of a legal document—one that contains sworn statements by the seller—that can be used in court should some kind of legal action need to be taken.

Most states require an affidavit of title as part of the legal paperwork required for transferring property from one party to another. An affidavit of title is also generally required by the title company before it will issue title insurance .

Contents of an Affidavit of Title

Guidelines for an affidavit of title can vary from state to state. Generally, the basic contents include personal details about the seller, including a name and address. In addition, there are statements to the effect that:

• The seller is the true and exclusive owner of record for the property being sold.
• The seller is not concurrently selling the property to anyone else.
• There are no liens or assessments outstanding against the property.
• The seller has not declared bankruptcy or is not currently in bankruptcy proceedings.

Beyond the items above, there can be specific exclusions given in an affidavit of title. For example, the affidavit of title may note that there is a mortgage remaining on the property that will only be paid off after closing .

An affidavit of title can mention a specific lien or issue does exist, but the title often outlines the process of how the condition is being handled. It should also mention things like easements , encroachments, and other issues that may not be shown on public records.

If an exception in the affidavit of title is an area of concern for the buyer, the buyer can notify the seller that the item must be remedied prior to closing. This could be as simple as having the seller clear a lien or something more involved such as paying for an updated survey of the land allotment and any easements upon it.

In addition to a signed attestation by the seller or issuer of the affidavit, an affidavit of title must contain a valid seal from a current notary.

Purpose of an Affidavit of Title

An affidavit of title protects a buyer of real property in a variety of ways. This legal document often serves three main purposes:

• Protect a buyer from unexpected legal issues. An affidavit of title grants the affidavit holder a legal claim over property and offers protection on judgments over the property. Without the affidavit, the buyer may encounter boundary line disputes or legal issues relating to extenuating circumstances regarding the property.
• Protect a buyer from becoming responsible for liens. A property may be subject to unpaid liabilities including liens. Without an affidavit of title outlining the pending liabilities tied to a property, the new buyer may become responsible for HOA liens, mechanic's liens, or government liens due to unpaid property taxes .
• Prevent a buyer from becoming a victim of fraud. An affidavit of title is a sworn statement from the buyer that all documents are in order and the site has been prepared for sale. The affidavit confirms the property is not being sold to any other parties, no other co-owners will exist, all deeds are valid and not forged, and the seller is not impersonating ownership of the land.

This document is also called an owner's affidavit, seller's affidavit, owner's declaration, or borrower's affidavit. Though it's most common is real estate transactions, the affidavit of title also applies to other transactions such as transfer of a car title .

The affidavit of title will generally contain specific language. The document must include the seller's name, address, and statement from the seller indicating they are the owner of the property for sale. The affidavit must also state whether there are liens on the property, whether the seller has had a bankruptcy, whether the seller is selling the property to other parties, and if there are any assessments against the property.

Both title companies and mortgage lenders will often require an affidavit of title as part of the sale of real property.

If there is a lien on the title, the seller can choose to have the lien removed by satisfying the obligation prior to sale. For example, if you remodeled your bathroom but failed to fully remit payment to the contractor, the contractor may place a mechanic's lien on your home.

To remove the lien, you must satisfy your debt, obtain proof of payment, and request the lienholder remove the lien. A lien is removed by filing a Release of Lien on Real Property form and recording the document at the country recorder's office.

An affidavit of title is a legal document outlining the ownership and potential legal issues involving a specific property. A seller is often required to prepare one as part of a sale, and the statement must certify that the seller is the true owner of the land and whether liens or other legal matters are pending regarding the property.

Am I Required to Get an Affidavit of Title?

Many states require an affidavit of title. Title companies and lenders typically require one to complete the closing.

Where Do I Get an Affidavit of Title?

An affidavit of title can be provided to you by legal counsel. Alternatively, free drafts with vague language can be found online. The affidavit must be signed by the seller of property and must be notarized.

What Is Included in an Affidavit of Title?

An affidavit of title includes information on the seller including their name, address, and a statement regarding their ownership of the property for sale. An affidavit of title also contains a sworn statement certifying the status of the property in regards to liens, bankruptcy proceedings, sales to other individuals, and other pending legal matters.

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§ 2-312. Warranty of Title and Against Infringement; Buyer's Obligation Against Infringement.

(1) Subject to subsection (2) there is in a contract for sale a warranty by the seller that

• (a) the title conveyed shall be good, and its transfer rightful; and
• (b) the goods shall be delivered free from any security interest or other lien or encumbrance of which the buyer at the time of contracting has no knowledge.

(2) A warranty under subsection (1) will be excluded or modified only by specific language or by circumstances which give the buyer reason to know that the person selling does not claim title in himself or that he is purporting to sell only such right or title as he or a third person may have.

(3) Unless otherwise agreed a seller who is a merchant regularly dealing in goods of the kind warrants that the goods shall be delivered free of the rightful claim of any third person by way of infringement or the like but a buyer who furnishes specifications to the seller must hold the seller harmless against any such claim which arises out of compliance with the specifications.

Warranty of title

Warranty of title clause samples

(b) Special Warranty of Title. The Assignment and Bill of Sale delivered at the Closing will contain a special warranty of title by Seller and its Affiliates by, through or under Seller (and its Affiliates), but not otherwise, subject, however, to the Permitted Encumbrances and to any matters of record in any of the applicable federal, state and county records. Said special warranty of title contained in the Assignment and Bill of Sale shall be subject to the further limitations and provisions of this Article V.

09/10/2018 (Enduro Royalty Trust)

1.2No Warranty of Title. Lessor claims title to the mineral estate covered by this Lease. Lessor does not warrant title nor represent that no one will dispute the title asserted by Lessor. It is expressly agreed that Lessor shall not be liable to Lessee for any alleged deficiency in title to the mineral estate, nor shall Lessee become entitled to any refund for any rentals, bonuses, or royalties paid under this Lease in the event of title failure.

05/22/2019 (PETROTEQ ENERGY INC.)

a. Limitations on Warranty of Title. The Acquired Assets are being assigned and conveyed hereunder to Assignee without any warranty of title , except that Assignor warrants that the Lease, to the extent of the rights and interests assigned and transferred to Assignee hereunder, are free and clear of all adverse claims, liens and other encumbrances.

2. Warranty of Title. Roth hereby warrants to Golden Royal that the execution of this Assignment Agreement will transfer to Golden Royal the full beneficial interest in the Interests, free of liens or adverse claims.

03/04/2019 (Golden Royal Development Inc.)

representations and warranties of the Parties contained in this Agreement or in any certificate delivered in connection with this Agreement will survive the Execution Date for a period of twelve (12) months and shall thereafter be of no further force or effect (as to each of (a), (b) and (c) above, the “Expiration Date”); provided, however, any representation, warranty or covenant as to which a claim shall have been asserted prior to the Expiration Date shall survive until such claim and the indemnity claim with respect thereto are resolved.Notwithstanding the foregoing, the Indemnities in Sections ‎5.2.2, ‎10.2.3, 10.2.4 and ‎10.3.2 shall survive the Closing without time limit.The special warranty of title set forth in the Assignment will survive the Closing Date for a period of two (2) years and shall thereafter be of no further force or effect except that any claim under such special warranty of title which has been asserted prior to the end of such two (2) years period shall survive until such claim with respect thereto is resolved.The intended effect of termination of (a) representations, warranties and covenants (and the indemnification rights with respect thereto) and (b) the special warranty of title is to bar, from and after the date of termination, any claim or cause of action based on the alleged inaccuracy of such representation or breach of such warranty, or with regard to claims for indemnity with respect thereto or with respect to such special warranty of title .Subject to the limitations set forth in this Section, the provisions of this Agreement shall survive the delivery of the Assignment at Closing, unless otherwise indicated.

11/04/2016 (Jones Energy, Inc.)

1. Warranty of Title. Pledgor warrants and represents to Lender that, upon information and belief, it is the owner of all of its personal property including, without limitation, all personal property wherever located, whether now existing or owned or hereafter arising or acquired, whether or not subject to the Uniform Commercial Code, as the same may be in effect in the State of New York, as amended from time to time, and whether or not affixed to any realty including, without limitation: (i) all accounts, chattel paper, investment property, deposit accounts, documents, equipment, farm products, general intangibles (including trademarks, service marks, trade names, patents, copyrights, licenses and franchises), instruments, inventory, money, letter of credit rights, causes of action (including tort claims) and other personal property (including agreements and instruments not constituting chattel paper or a document, general intangible or instrument); (ii) all additions, accessions to, substitutions for, or replacements of the foregoing; (iii) all proceeds and products of the foregoing including insurance proceeds; and (iv) all business records and information relating to any of the foregoing and any software or other programs for accessing and manipulating such information (collectively referred to herein as the “Collateral”) and Pledgor holds the Collateral free and clear of any and all liens or claims or encumbrances of any nature whatsoever.

08/29/2018 (TAYLOR DEVICES INC)

(b)Special Warranty of Title. The Assignment delivered at Closing will contain a special warranty of title whereby Seller warrants and agrees to defend Defensible Title effective as of Closing and until the end of the Survival Period, without duplication, to (i)each Well set forth on ExhibitB-1 (limited to any currently producing formations), and (ii)each Well Location set forth on ExhibitB-2 (limited to the applicable Target Formation(s) set forth on ExhibitB-2 for such Well Location), unto Buyer against every Person whomsoever lawfully claiming or to claim the same or any part thereof by, through or under Seller or its Affiliates, but not otherwise, subject, however, to the Permitted Encumbrances; provided, however, that, except with respect to any liability of Seller for any claim asserted in writing by Buyer to Seller in accordance with Section11.1(c) on or before the expiration of the Survival Period for breach of such special warranty, such special warranty shall cease and terminate at the end of such Survival Period.

11/07/2018 (Vantage Energy Acquisition Corp.)

5.6Right to Cure. Seller shall have the option, but not the obligation, to attempt to cure, on or before 5:00 p.m. Central Time, two (2) Business Days prior to the Initial Closing (“Cure Period”), any Title Defect affecting the Assets that is timely identified under Section 5.5. If a Title Defect is a reduction in NRI below the Designated NRI for any Lease, the Parties agree that Seller may cure such Title Defect by delivering, or causing to be delivered, assignments of existing overriding royalties assigned by Seller under Article 8 of this Agreement in amounts sufficient to increase the NRI to the Designated NRI, which assignments shall be delivered at the Initial Closing or Subsequent Closing, as the case may be, and shall contain a special warranty of title . If Seller is unable to cure a Title Defect that is a reduction in NRI below the Designated NRI for any Lease in the manner set forth above, then Buyer shall have the right, but not the obligation, to elect to exclude the affected Lease from the Initial Closing, and the Purchase Price will be reduced by the Allocated Value of such Lease. Prior to the end of the Cure Period, Seller shall provide evidence that a Title Defect has been cured. Prior to the execution of the Settlement Statement pursuant to Section 3.2, Buyer shall notify Seller whether such Title Defect has been cured to the reasonable satisfaction of Buyer. Without limitation of Section 5.8 below, if there are any Title Defects described under sub-clause (iv) in the definition of Defensible Title in Section 5.1, and (i) Seller elects, or is deemed to have elected, to not cure such Title Defect, or (ii) Seller elects to cure such Title Defect in accordance with this Section 5.6 but is unable to cure such Title Defect by the end of the Cure Period (or, if such Lease has already been excluded from the Initial Closing due to its being subject to an Outstanding Title Defect, by the by the end of the Post-Closing Cure Period), then Seller may elect to retain the Lease or Leases affected by such Title Defect and the Purchase Price shall be reduced by the Allocated Value of such Lease or Leases.

11/14/2017 (LILIS ENERGY, INC.)

9. Grant in Trust and Warranty of Title. In consideration of the foregoing and other good and valuable consideration, Grantor hereby reaffirms the grant and conveyance to Trustee, in trust for the benefit of Lender and the successors, successors-in-title and assigns of Lender, with power of sale, as set forth in the Deed of Trust, of all of the estate, right, title, and interest that Grantor now has or may later acquire in and to the Property as defined and described in the Deed of Trust, including, but not limited to, the Real Property as more particularly described in Exhibit A attached to and made a part of this Modification, which Property is not used principally or primarily for agricultural or farming purposes.

06/11/2018 (OPTICAL CABLE CORP)

12.1Warranty of Title.Producer warrants that it will at the time of delivery of Crude Oil to Carrier under this Agreement have good title to or contractual right to deliver such Crude Oil and that such Crude Oil will be free and clear of all liens, encumbrances, and adverse claims of any kind that have been asserted prior to the time of delivery.If any claim is made on the title of the Committed Crude Oil, Carrier has the right to suspend receipt or deliveries of Committed Crude Oil but only to the extent to which title is in issue and only until such issue is finally resolved to the reasonable satisfaction of Carrier.

08/07/2017 (Resolute Energy Corp)

5. Warranty of Title. Initial Owner warrants that on Closing, Initial Owner shall have clear title to Horse and Horse is free from any liens, claims or encumbrances of any nature whatsoever including without limitation spousal claims under any applicable community property laws. In the event any claims or demands are made against Initial Owner's or Investor's title to the Horse, Initial Owner shall indemnify, defend and hold Investor harmless against such claim or demand at its sole cost and expense from any and all claims or expenses, including reasonable attorney's fees which may arise by reason thereof.

11/03/2020 (My Racehorse CA LLC)

F. Warranty of Title. Seller is the lawful owner of the Assets, and has the full right, power, and authority to sell, transfer and convey the Assets to Buyer and that the Assets are not subject to any liens, claims, security interests, encumbrances, taxes, or assessments, however described or denominated.

11/14/2019 (Surge Holdings, Inc.)

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