Podcast
Questions and Answers
Which type of deed offers the most comprehensive guarantees to the grantee, protecting against all claims?
Which type of deed offers the most comprehensive guarantees to the grantee, protecting against all claims?
- Referee's Deed
- Bargain and Sale Deed
- Full Covenant and Warranty Deed (correct)
- Quitclaim Deed
A property is transferred with a deed that includes no warranties or guarantees about the title's history. Which type of deed was most likely used?
A property is transferred with a deed that includes no warranties or guarantees about the title's history. Which type of deed was most likely used?
- Bargain and Sale Deed
- Referee's Deed
- Full Covenant and Warranty Deed
- Quitclaim Deed (correct)
In a real estate transaction, the seller only guarantees that they haven't encumbered the property during their ownership but makes no promises about prior owners. Which type of deed are they using?
In a real estate transaction, the seller only guarantees that they haven't encumbered the property during their ownership but makes no promises about prior owners. Which type of deed are they using?
- Bargain and Sale Deed with Covenant (correct)
- Referee's Deed
- Quitclaim Deed
- Full Covenant and Warranty Deed
Which deed is commonly used in foreclosure sales or court-ordered sales of property?
Which deed is commonly used in foreclosure sales or court-ordered sales of property?
Which deed offers the grantee the least protection, providing no guarantees or warranties regarding the title?
Which deed offers the grantee the least protection, providing no guarantees or warranties regarding the title?
A buyer is concerned about potential title defects and wants maximum protection. Which type of deed should they insist on receiving?
A buyer is concerned about potential title defects and wants maximum protection. Which type of deed should they insist on receiving?
A deed that conveys real property without any covenants or warranties is known as which type of deed?
A deed that conveys real property without any covenants or warranties is known as which type of deed?
Which deed is most commonly used to clear up potential clouds on a title, such as resolving boundary disputes or correcting errors in the public record?
Which deed is most commonly used to clear up potential clouds on a title, such as resolving boundary disputes or correcting errors in the public record?
If a property is sold due to a court order resulting from a foreclosure, which type of deed would typically be used to convey the property?
If a property is sold due to a court order resulting from a foreclosure, which type of deed would typically be used to convey the property?
In which scenario would a Quitclaim Deed be the MOST appropriate choice?
In which scenario would a Quitclaim Deed be the MOST appropriate choice?
Flashcards
Full Covenant and Warranty Deed
Full Covenant and Warranty Deed
The most comprehensive deed, guaranteeing clear title to the property. Offers the greatest protection to the buyer.
Bargain and Sale Deed
Bargain and Sale Deed
A deed that conveys real property without covenants, meaning the grantor makes no guarantees about the title's validity.
Referee's Deed
Referee's Deed
A deed used to convey real property sold pursuant to a judicial order, like in a foreclosure. Used in foreclosure or partition actions.
Study Notes
- The NYS 77-Hour Real Estate Salesperson Licensing Course (V.3) is 100% complete
- The course completion expires in 29 days
Deeds
- Full Covenant and Warranty Deed was the correct answer to one of the questions
- A deed conveying real property without covenants is known as a Bargain and Sale Deed
- A Referee's Deed conveys real property sold pursuant to a judicial order in an action for the foreclosure of a mortgage or for partition
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Description
Understand different types of deeds in real estate. Learn about Full Covenant and Warranty Deeds, Bargain and Sale Deeds and Referee's Deeds. Cover the essentials for the NYS 77-Hour Real Estate Salesperson Licensing Course.
