Review of Title Transfer

Question 1

The party who transfers a deed is known as the

Answer 1

Grantor

Question 2

The party to whom the title is transferred is known as the

Answer 2

grantee

Question 3

The grantor must sign a deed to make it valid

Answer 3

The valid deed must name the grantor and the grantee

Question 4

Warranties as to title status are provided by “covenants” in the deed.

Answer 4

Warranties in a deed affect the “certainty tht the title is sound”

Question 5

The “general warranty” type of deed is the greatest warranty as to title status

Answer 5

The deed covenant that states that the grantor owns the property and has the right to convey it is the covenant of SEIZIN

Question 6

THE DEED COVENANT THAT WARRANTS AGAINST ENCUMBRANCES NOT STATED IN THE DEED IS CALLED THE COVENANT “AGAINST ENCUMBRANCES”

Answer 6

THE DEED COVENANT WHICH WARRANTS THAT GRANTEE’S OWNERSHIP WILL NOT BE CHALLENGED BY THE CLAIMS OF OTHERS IS CALLED THE COVENANT OF”“QUIET ENJOYMENT”

Question 7

THE DEED COVENANT WHICH OBLIGATES THE GRANTOR TO PERFORM ANY ACTS OF NECESSARY TO PROTECT THE TITLE CONVEYED IS CALLED THE COVENANT OF “FURTHER ASSISTANCE”

Answer 7

THE DEED COVENANT WHICH ASSURES THAT THE GRANTOR WILL BEAR THE EXPENSE OF DEFENDING THE TITLE AGAINST THE CLAIMS OF OTHERS IS CALLED THE COVENANT OF “WARRANTY OF TITLE”

Question 8

THE “SPECIAL WARRANTY” DEED WARRANTS ‘ONLY’ AGAINST ENCUMBRANCES BY THE GRANTOR

Answer 8

SPECIAL WARRANTY DEED contains ONLY one warranty:

the covenant against encumbrances.

Question 9

The deed often used by an agent of a principal such as a trustee or executor of a will, is the

Answer 9

Special Warranty

• the executor can only warrant that he did not encumber the property

Question 10

The type of deed which contains an IMPLIED INTEREST in property but no warranty as to title status is the “bargain and sale deed.

Answer 10

The type of deed which contains no warranty as to title is the quitclaim deed.

Question 11

A quitclaim deed can be used to convey “any interest in real property”

Answer 11

A type of deed used to clear up a cloud on a title is the “quickclaim deed”

Question 12

Different types of deeds convey different amounts of WARRANTY

Answer 12

DIFFERENT TYPES OF ESTATES CONVEY DIFFERENT AMONTS OF

Question 13

DIFFERENT TYPES OF ESTATES CONVEY DIFFERENT AMOUNTS OF “TITLE”

Answer 13

In most states, a deed must be acknowledged in order to be : RECORDED

Question 14

A DEED WHICH IS ACKNOWLEDGED BUT NOT RECORDED IS VALID

Answer 14

IN ORDER TO BE ADMISSIBLE FOR PUBLIC RECORDING, A DEED MUST BE ACKNOWLEDGED

Question 15

The only one who can acknowledge a deed is the GRANTOR

Answer 15

ACKNOWLEDGMENT IS THE GRANTOR’S STATEMENT OF HIS ABILITY TO CONVEY, NOT THE CERTIFICATION OF THE NOTARY PUBLIC

Question 16

THE declaration that the person signing the deed is the grantor named in the deed is the ACKNOWLEDGMENT

Answer 16

A TAX that is sometimes paid when a deed is recorded is known as the TRANSFER TAX
PAID BY EITHER THE BUY OR SELLER OR SPLIT BY BOTH