Stringham - Deeds & Transfer (1) Exam Questions With 100% Verified Answers
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Course
Stringham Real Estate
Institution
Stringham Real Estate
Stringham - Deeds & Transfer (1) Exam
Questions With 100% Verified Answers.
Deed - answerActual instrument that shows that we own something.
Title - answerForm of how we own something
Alienation of Title - answerTransfer ownership (voluntary or involuntary); selling the property
Essential elem...
Stringham - Deeds & Transfer (1) Exam
Questions With 100% Verified Answers.
Deed - answer✔Actual instrument that shows that we own something.
Title - answer✔Form of how we own something
Alienation of Title - answer✔Transfer ownership (voluntary or involuntary); selling the property
Essential elements of a deed - answer✔1. Intent
2. Signature
3. Granting Clause
4. Name of the parties
5. Description
6. Consideration
7. Written
8. Delivery
Elements of a deed: intent - answer✔Grantor must intend to give ownership to someone else
Elements of a deed: signature - answer✔Signature of only the grantor(seller/owner) of the
property
Elements of a deed: granting clause - answer✔"I transfer", "I grant", "I convey"
Elements of a deed: name of the parties - answer✔BOTH grantor and grantee
Elements of a deed: description - answer✔Legal description that separates it from everything
else (NOT address)
Elements of a deed: consideration - answer✔Amount paid is usually hidden by "ten dollars and
other good and valuable consideration"
Elements of a deed: written - answer✔Must be done in writing
Elements of a deed: delivery - answer✔Must be delivered to the grantee via 3 ways
Elements of a deed: delivery: 3 ways - answer✔1. Actual delivery
2. Constructive (recorded)
3. 3rd party (hold in escrow or trust)
Establish the Validity of a deed - answer✔1. Recording
2. Acknowledgment
3. Date
4. Habendum Clause
Establish the Validity of a deed: habendum clause - answer✔"To have and to hold Clause",
"subject to", "exceptions and reservations"; keeping or reserving certain rights for ourself as the
grantor
Establish the Validity of a deed: recording - answer✔Not legally required, it fasted and safest
form of delivery; highly recommended
Establish the Validity of a deed: acknowledgment - answer✔(Notarized/witnessed) does not have
to be recorded; signature of the grantor is being notarized
Establish the Validity of a deed: date - answer✔Does not need to be valid, but important and
should be done
Types of deeds - answer✔1. Quit claim deed
2. Bargain & sale deed
3. General or Full Warranty
4. Special Warranty
5. Grant Deed
6. Deeds having to do with probable
7. Deeds having to do with foreclosure
8. Gift deed
9. Patent deed
Types of deeds: quit claim deed - answer✔Grantor knows the history/chain of the title; most
often in divorces and quick asset shifting. Grantor usually has not interest whatsoever.
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