5 Written Questions
5 Matching Questions
- General Warranty Deed
- a A person who has made a valid will. A woman often is referred to as a testatrix, although testator can be used for either gender.
- b A written document, properly witnessed, providing for the transfer of title to property owned by the decease, called the testator.
- c Having made and left a valid will.
- d Written document that, when executed and delivered, conveys title to or an interest in real estate
- e Deed that offers the most protection in which grantor fully warrants good clear title to the premises
5 Multiple Choice Questions
- A legal process by which a court determines who will inherit a decedent's property and what the estate's assets are
- A deed used by a trustee under a deed of trust to return title to the trustor
- A deed in which the grantor fully warrants good clear title to the premises. Used in most real estate deed transfers, a general warranty deed offers the greatest protection of any deed
- Voluntary transfer of title to Real Estate property, either a gift or selling of property
- A deed in which the grantor warrants, or guarantees, the title only against defects arising during the period of his or her tenure and ownership of the property and not against defects existing before that time, generally using the language, "by, through, or under the grantor but not otherwise."
5 True/False Questions
Transfer Tax → Tax on the transfer of real property; may require that stamps be attached to deed
Grantor → The person transferring title to or an interest in real property to a grantee
Vested Interest → An instrument that grants a trustee under a land trust full power to sell, mortgage, and subdivide a parcel of real estate. The beneficiary controls the trustee's use of these powers under the provisions of the trust agreement
Grantee → The person who receives a conveyance of real property from a grantor
Title → A written document, properly witnessed, providing for the transfer of title to property owned by the decease, called the testator.