When houses are sold they come with a deed attached that spells out the legal guarantees on good title. Some deeds give clues about the characteristics of the seller or the house. Using a 37,043-observation house price hedonic with a Bayesian spatial error model, we find the type of deed...

When houses are sold, they come with a deed attached that spells out the legal guarantees the seller makes about the house. The deed sometimes contains guarantees of good title, freedom from encumbrances, and protection from competing claims against the property; other deeds make no such...

Deeds spell out the legal guarantees the seller makes about a house. Using a house price hedonic with a Bayesian spatial error model, we find deed types dramatically affect a house's sale price. Ten deed types command a discount and one commands a premium relative to warranty deeds. The 27%...