Unit 3 Review

Unit 3 Review

Assessment

Flashcard

Business

11th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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76 questions

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1.

FLASHCARD QUESTION

Front

Which type of deed provides the highest level of protection to the buyer? Options: Quitclaim Deed, General Warranty Deed, Special Warranty Deed, Trustee's Deed

Back

General Warranty Deed

2.

FLASHCARD QUESTION

Front

What is a "quitclaim deed"?

Back

A deed that transfers whatever interest the grantor has in the property without warranties.

3.

FLASHCARD QUESTION

Front

True or False: A quitclaim deed guarantees a clear title to the property.

Back

False

4.

FLASHCARD QUESTION

Front

Which of these deeds is commonly used to quickly transfer property between family members without a title guarantee? Options: Special Warranty Deed, General Warranty Deed, Quitclaim Deed, Foreclosure Deed

Back

Quitclaim Deed

5.

FLASHCARD QUESTION

Front

Which term describes the person receiving the property in a deed transaction? Options: Grantor, Grantee, Trustee, Escrow Agent

Back

Grantee

6.

FLASHCARD QUESTION

Front

A general warranty deed includes a promise from the seller to the buyer that:

Back

The property has no title issues at any point in its history.

7.

FLASHCARD QUESTION

Front

If a seller uses a special warranty deed to transfer property, they are guaranteeing against title issues caused by: All previous owners, Themselves only, The buyer, No one

Back

Themselves only

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