Consider the following excerpt from a sample deed: "The Seller covenants with The Buyer that it has a good right to convey, that the property is free from all encumbrances, and that it forever warrants to defend all of the property so granted to The Buyer against every person lawfully claiming the same." Based on your understanding of the relation between a deed’s covenants and the type of deed being conveyed, which type of deed is being conveyed in the statement above?

A) general warranty deed
B) special warranty deed
C) deed of bargain and sale
D) quitclaim deed

Question

31-01-2020
Business

contestada

Consider the following excerpt from a sample deed: "The Seller covenants with The Buyer that it has a good right to convey, that the property is free from all encumbrances, and that it forever warrants to defend all of the property so granted to The Buyer against every person lawfully claiming the same." Based on your understanding of the relation between a deed’s covenants and the type of deed being conveyed, which type of deed is being conveyed in the statement above?

A) general warranty deed
B) special warranty deed
C) deed of bargain and sale
D) quitclaim deed

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monica789412 monica789412 · Answer 1 · 2020-02-08T12:34:20+01:00

The term Warrant means "Guarantee".A Warranty deed protects the buyer of the property. It is a type of legal document used in real estate to transfer the right of property from one person to the other.

Explanation:

In Real Estate there are 4 major types of the deed:

The General warrant Deed: This Deed provides the highest level of protection to the buyer of the property because it contains warranties or covenants that the seller conveys with the title.
The Special Warrant Deed: In this type of deed there is no guarantee against the title defect
The Bargain and Sale Deed: In this type of deed the buyer is given no guarantee that the land being sold is free of encumbrances
The Quitclaim Deed: In this type of deed, not guarantee is conveyed to the buyer. This type of deed does not make any warranties against liens or encumbrances.

The answer to the above question is (A) General Warranty Deed