Mortgage glossary of definitions, meanings, and descriptions of significance for some of our industry's most often used terms and phrases.

W

Warranty Deed -- A deed used in many states to convey fee title to real property. Until the widespread use of title insurance, the warranties by the grantor were very important to the grantee. When title insurance is purchased, the warranties become less important as practical means of recovery by the grantee for defective title.

Wetlands -- Lands which, in their normal condition, have wet or spongy soil, such as a marsh or bog.