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Property OwnershipDeed_typesMEDIUM

Patricia is selling her Flint rental property and wants to transfer it to the buyer using the deed that provides the LEAST amount of title protection to the buyer. Patricia's attorney explains that this deed type simply conveys whatever interest Patricia currently holds, with no promises about the quality of that title. Which deed type is Patricia's attorney describing?

Correct Answer

C) Quitclaim deed

A quitclaim deed conveys only whatever interest the grantor currently holds, with absolutely no warranties or covenants of title. If Patricia holds clear title, the buyer receives clear title. But if Patricia's title is defective or she holds no title at all, the buyer receives nothing and has no recourse against Patricia. This makes the quitclaim deed the deed providing the least protection to the buyer. It is the weakest form of conveyance in terms of title protection.

Answer Options
A
Bargain and sale deed
B
General warranty deed
C
Quitclaim deed
D
Special warranty deed

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Background Knowledge for Property Ownership

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Related Topics & Key Terms

Key Terms:

deed_typesquitclaim_deedtitle_protectionbuyer_protectionconveyancing

Related Concepts

Community property is a form of ownership recognized in certain states where property acquired during marriage is considered equally owned by both spouses, regardless of who earned the money or whose name is on the title.

Condominium ownership involves owning a unit of airspace within a multi-unit building plus an undivided interest in the common elements shared with other unit owners. Each unit is separately taxed and financed.

In a cooperative (co-op), the building is owned by a corporation, and residents purchase shares of stock in the corporation that entitle them to a proprietary lease on a specific unit. Residents are shareholders, not property owners.

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