Unit 3 Review

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

Front

What is a "quitclaim deed"?

Back

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

Front

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

Back

False

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

Front

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

Back

Grantee

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.

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

Front

Who is responsible for issues with the title caused by owners before Janelle when Janelle sold her property to Tim with a special warranty deed?

Back

Tim

Front

If Tom transfers his interest in a property to his brother using a quitclaim deed and a title defect from a previous owner is found, who is responsible for resolving it?

Back

Tom's brother

Front

True or False: A special warranty deed provides more protection to the buyer than a general warranty deed.

Back

False