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Property OwnershipDeed_typesEASY

Maria purchases a home in Bergen County, New Jersey, and receives a deed that includes the grantor's covenant that the grantor has done nothing to encumber the property during the period of the grantor's ownership, but makes no warranties about the condition of title before the grantor acquired it. Which type of deed did Maria most likely receive?

Correct Answer

A) Bargain and sale deed with covenants against grantor's acts

A bargain and sale deed with covenants against grantor's acts is the most common deed used in New Jersey residential real estate transactions. The grantor covenants only that they have not encumbered the property during their period of ownership, but makes no warranties about title defects that may have existed before they took ownership. This limited warranty is typical in NJ arm's-length sales.

Answer Options
A
Bargain and sale deed with covenants against grantor's acts
B
General warranty deed
C
Quitclaim deed
D
Referee's deed in foreclosure

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Background Knowledge for Property Ownership

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Related Topics & Key Terms

Key Terms:

deed_typesbargain_and_sale_deedcovenants_against_grantors_actsresidential_transaction

Related Concepts

Fee simple absolute is the highest and most complete form of property ownership, giving the owner unrestricted rights to use, possess, enjoy, and dispose of the property. It is of unlimited duration and fully inheritable.

Community property is a system where property acquired during a marriage is owned equally by both spouses.

A freehold estate represents ownership of real property with an indefinite duration.

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