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Which type of deed creates the greatest liability for the grantor?

General Warranty Deeds: A general warranty deed provides the most protection to the buyer but gives the grantor the highest degree of liability. The grantor of a general warranty deed fully warrants good clear title to the property. This type of deed is used in most real estate deed transfers.

Which of the following deeds conveys whatever interest the owner may have but makes no promises?

A quitclaim deed conveys only what the grantor owns and makes no promises that there are no other claims against the property, either during or before the grantors ownership.

What accompanies a deed of trust?

The deed of trust accompanies the promissory note and serves as a formal lien on the property. The deed will contain a legal description of the property and grant legal title to a trustee (typically a title company) until the loan is repaid in full.

What is the purpose of a trustee on a deed of trust?

A deed of trust has a borrower, lender and a trustee. The trustee is a neutral third party that holds the title to a property until the loan is completely paid off by the borrower. In most cases, the trustee is an escrow If you dont repay your loan, the escrow companys attorney must begin the foreclosure process.

Which type of deed provides the grantor the best assurance of no future liability?

Quitclaim Deeds The quitclaim deed is used in those cases where the grantor does not want to assume further liability, or feels no need to guarantee title, such as when a family member transfers title to another family member or the grantor is only transferring some of his rights and not conveying a fee simple estate.

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Which is the most commonly used type of deed?

General warranty deed: A general warranty deed is the most common type of deed used to transfer fee simple ownership of a property. Unlike a quitclaim deed, a general warranty deed does confirm a grantors ownership and a legal right to sell.

What is a trustees deed in Florida?

A trustee deed conveys ownership of real estate that is being held in trust. The trustees deed refers to the person who is making the conveyance.

Which type of deed is used by a grantor?

A grant deed, also known as a special or limited warranty deed, is a legal document used to transfer real estate between a previous owner (the grantor) and a new owner (the grantee).

Which type of deed is used by a trustee?

A trustee deedsometimes called a deed of trust or a trust deedis a legal document created when someone purchases real estate in a trust deed state, such as California (check your local laws to see what is required in your state). A trust deed is used in place of a mortgage.

What type of deed is best?

A Warranty Deed is the best of the best. It protects you from all future and past issues with property title and any outstanding debts or liens.

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Which type of deed creates the greatest liability for the grantor?

Which of the following deeds conveys whatever interest the owner may have but makes no promises?

What accompanies a deed of trust?

What is the purpose of a trustee on a deed of trust?

Which type of deed provides the grantor the best assurance of no future liability?

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People also ask

Which is the most commonly used type of deed?

What is a trustees deed in Florida?

Which type of deed is used by a grantor?

Which type of deed is used by a trustee?

What type of deed is best?

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Get the up-to-date quitclaim deed grantor 2024 now

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The best way to modify Quitclaim deed grantor in PDF format online

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Got questions?

Which type of deed creates the greatest liability for the grantor?

Which of the following deeds conveys whatever interest the owner may have but makes no promises?

What accompanies a deed of trust?

What is the purpose of a trustee on a deed of trust?

Which type of deed provides the grantor the best assurance of no future liability?

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People also ask

Which is the most commonly used type of deed?

What is a trustees deed in Florida?

Which type of deed is used by a grantor?

Which type of deed is used by a trustee?

What type of deed is best?

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