Chapter 10

Question 1

Most common type of deed used. Protects the buyer against ALL title defects that may arise at ANY time, from the origination of the property all the way through to the future.

Answer 1

General Warranty Deed

Question 2

The seller guarantees that he or she owns the property and has the right to sell it.

Answer 2

Covenant of Seisin

Question 3

The seller guarantees that he or she has a valid title to the property and has not entered into a contract to sell it to anyone else.

Answer 3

Covenant of Right To Convey

Question 4

The seller promises there are no hidden liens or encumbrances other than those stated in the deed

Answer 4

Covenant Against Encumberances

Question 5

The seller guarantees that no one will interfere with the buyers possession or right to use the property, or that no third party will try to establish a more superior title than the buyer is given.

Answer 5

Covenant of Quiet Enjoyment

Question 6

The seller guarantees that if there is a defect, the seller will take care of the problem by obtaining any instrument that is needed to clear or otherwise free the title from any defects.

Answer 6

Covenant of Further Assurance

Question 7

The seller guarantees at any time in the future, if there is a problem with the title, the seller will reimburse the buyer for any future loss.

Answer 7

Covenant of a Warranty Forever

Question 8

The seller states that he or she has the right to sell the property, but makes NO other guarantees or warranties beyond that.

Answer 8

Bargain and Sale Deed

Question 9

The seller makes absolutely no promises or warranties whatsoever. It offers the least amount of protection for the buyer.

Answer 9

Quitclaim Deed

Question 10

Conveys a properly title to a trustee who then holds the title as a security against a loan made by a lender to a borrower to purchase the property.

Answer 10

Deed of Trust

Question 11

A deed executed by the trustee (the holder of the security) and NOT the trustor (the borrower/buyer). Used when a trustee transfers the trust to anyone other than the trustor.

Answer 11

Trustees Deed

Question 12

An official document that is given by a lender to a borrower/buyer when the loan is repaid in full.

Answer 12

Reconveyance Deed

Question 13

Specific to Nevada and is the most commonly used deed in Nevada to transfer property under a sales or purchase contract.

Answer 13

Grant, Bargain and Sale Deed