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Understanding Real Estate Contracts and Deeds

Understanding Real Estate Contracts and Deeds

Assessment

Flashcard

Business

11th Grade

Practice Problem

Hard

Created by

Wayground Content

Used 2+ times

FREE Resource

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21 questions

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1.

FLASHCARD QUESTION

Front

Which of the following is NOT a type of real estate contract? Purchase Agreement, Lease Agreement, Employment Contract, Option Agreement

Back

Employment Contract

2.

FLASHCARD QUESTION

Front

What is one of the essential elements of a valid contract?

Back

Mutual consent

3.

FLASHCARD QUESTION

Front

Which type of deed offers the greatest protection to the buyer? Quitclaim Deed, Bargain and Sale Deed, General Warranty Deed, Special Warranty Deed

Back

General Warranty Deed

4.

FLASHCARD QUESTION

Front

What is the primary purpose of a deed in real estate?

Back

To transfer property rights

5.

FLASHCARD QUESTION

Front

Which of the following is NOT an element of a valid contract? Offer and acceptance, Consideration, Legal purpose, Verbal agreement

Back

Verbal agreement

6.

FLASHCARD QUESTION

Front

What is a Quitclaim Deed primarily used for?

Back

To transfer interest without warranties

7.

FLASHCARD QUESTION

Front

Which of the following is a type of real estate contract? Employment Agreement, Listing Agreement, Service Contract, Partnership Agreement

Back

Listing Agreement

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