Business Glossary

Business Definition for: bargain and sale

Dictionary of Business Terms

bargain and sale

deed in the form of a contract that conveys property and transfers title to the buyer but lacks any guarantee from the seller as to the validity of the title. It is commonly used today to convey title to real estate and in effect transfers to the new owner whatever interest the grantor had.

See also warranty deed , quitclaim deed

Related Terms:

warranty deed

deed conveying the seller's interest in real property to the buyer. The seller, also known as the grantor, certifies that the title on property being conveyed is free and clear of defects, liens, and encumbrances. If a third party claim is not exempted specifically, the buyer (the grantee) may sue the seller for the damages caused by the defective title.

quitclaim deed

document in which title, claim, or ownership of property or an estate is relinquished to another, without representing that such title is valid. Usually it contains no covenant or warranty against outstanding claims of previous lien holders.

Referring Terms:

deed

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