Deeds and Transfer of Interest Explained

Deeds and Transfer of Interest Explained

Assessment

Interactive Video

Business, Social Studies

University

Hard

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The video tutorial explains the process of transferring title and land through a document called a deed. It covers the closing process, where a contract is made to exchange money for property ownership. The deed is a legal document detailing the land's description and boundaries, indicating the transfer of ownership. Finally, the deed is recorded at a local register or courthouse, notifying the public of the ownership change.

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary document used to transfer title in real property?

A deed

A lease

A mortgage

A contract

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the process called when you finalize the purchase of a property?

Closing

Recording

Surveying

Listing

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT typically included in a deed?

Location and boundaries

Owner's personal history

Surveying boundaries

Detailed description of the land

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Where is a deed recorded to provide public notice of ownership transfer?

Local library

Register of deeds or courthouse

Real estate office

City hall

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does recording a deed at the courthouse signify?

The property is for sale

The property is under dispute

Ownership has been transferred

The property is being leased