Exam Questions and Answers | A+ Score
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Warranty Deed - 🧠 ANSWER ✔✔Covenants clear and legal title, quiet
enjoyment, and actively defend any claims to title that may arise after
transfer to the grantee.
Deed - 🧠 ANSWER ✔✔A written instruments used to transfer title to
property.
Deed Requirements - 🧠 ANSWER ✔✔In writing. Name of grantor. Name of
grantee. Adequately describe the property. Signed by grantor. Delivered by
grantor. Accepted by grantee.
Deeds - 🧠 ANSWER ✔✔Grant Deed. Warranty Deed. Quit Claim Deed.
, Grant Deed - 🧠 ANSWER ✔✔Covenants that the property is free from
encumbrances and not previously conveyed.
Quit Claim Deed - 🧠 ANSWER ✔✔Grantor conveys whatever interest he
has in the property.
Cloud on title - 🧠 ANSWER ✔✔legal term to describe potential claims or
problems in the chain of title that may cast doubt as to who owns the
property
Deed of trust - 🧠 ANSWER ✔✔a document that creates a security interest
for the lender in the event that the borrower defaults payment of the loan.
deed of trust - 🧠 ANSWER ✔✔security interest for lender, non judicial
foreclosure, trustee lender borrower
trustee in a deed of trust - 🧠 ANSWER ✔✔appointed third party who
primary role is to deliver the deed when the borrower fully repays the loan
deed of trust - 🧠 ANSWER ✔✔trustee lender borrower
Mortgage - 🧠 ANSWER ✔✔instrument that creates a voluntary lien on real
property to secure repayment of a promissory note executed by the
borrower