Deck 8: Deeds

Question 1

What is the purpose of recording documents?

Answer 1

Documents are placed in the public record through a process called recording . The purpose of recording is to put the public on notice regarding the information contained in the document. If the document is a deed, then the recording of the deed puts the public on notice regarding the contents of the deed, including the identification of the current owner of the real property, the legal description of the property, and the encumbrances on the property.

Question 2

The deed that provides the greatest degree of protection for the buyer is a:

A) special warranty deed
B) general warranty deed
C) quitclaim deed

Answer 2

B

Question 3

What is a fiduciary deed, and when is one used?

Answer 3

A fiduciary deed is a special warranty deed signed by a fiduciary, such as a personal representative of an estate, a guardian or a minor, or a trustee. A fiduciary deed usually is used when the grantor is not able to sign the deed, such as when the grantor is deceased, under age, or does not have the legal mental capacity because the grantor has been adjudicated incompetent.

Question 4

A sheriff's deed is similar to a:

A) general warranty deed
B) quitclaim deed
C) fiduciary deed

Question 5

Documentary stamps are calculated based on the:

A) price recited in the deed
B) actual purchase price
C) appraised value of the property

Question 6

The ___ clause reserves some right in the real property for the grantor or imposes a restriction on the use of the property by the grantee.

Question 7

The         clause describes the type of estate being conveyed to the grantee(s).

Question 8

A transfer of ownership is completed when a deed is signed, witnessed, and notarized.

Question 9

A deed must include a recital of consideration.

Question 10

The opening paragraph of a deed is called the:

A) premises clause
B) reddendum clause
C) granting clause

Question 11

The ___  clause warrants that the grantor is the rightful owner of the property in question and thereby has the right and power to convey the property to the grantee.

Question 12

What must be included in a valid deed?

Question 13

A deed is signed by all grantors and all grantees.

Question 14

The final clause in a deed is called the           clause.

Question 15

The ___ clause indicates the improvements that are being conveyed together with the land, such as the buildings built on the land.

Question 16

What tasks must be performed after a deed has been signed?

Question 17

If the grantee receives a quitclaim deed and subsequently the title to the real property is found to be defective, the grantee has no recourse against the grantor.

Question 18

There is no requirement that the grantee be of sound mind or of the age of majority.

Question 19

What procedures must take place prior to the conveyance of government-owned real property?

Question 20

The actual sales price must be inserted in a:

A) quitclaim deed
B) corrective deed
C) guardian's deed

Question 21

What factors have led to the rise in recent years of deed fraud?