Transfer of Title Exam Questions
Transfer of Title covers how property ownership is legally transferred, including the hierarchy of deeds (general warranty, special warranty, bargain and sale, quitclaim), the recording system, title searches, title insurance, and the closing/settlement process. At 8% of the exam, this topic bridges the gap between contract execution and final ownership transfer. You will need to understand the requirements for a valid deed, the difference between owner's and lender's title insurance, and how recording statutes protect property rights. Proration calculations at closing are a common source of math questions, requiring careful attention to dates and the direction of debits and credits between buyer and seller.
What You Need to Know About Transfer of Title
Transfer of Title covers the legal process of transferring property ownership from one party to another. This topic includes deeds, the recording system, title searches, title insurance, and the closing process — all essential knowledge for facilitating real estate transactions.
Understand the hierarchy of deeds based on the level of protection they provide: General Warranty Deed offers the most protection with five covenants (seisin, quiet enjoyment, against encumbrances, further assurance, warranty forever), Special Warranty Deed warrants only against defects during the grantor's period of ownership, Bargain and Sale Deed implies ownership but provides no warranties, and Quitclaim Deed transfers whatever interest the grantor has with no warranties at all.
For a deed to be valid, it must have a competent grantor, identifiable grantee, words of conveyance (granting clause), adequate legal description, and be signed by the grantor. Delivery and acceptance are required to complete the transfer. Recording is not required for validity between the parties but protects against subsequent claims. Title insurance protects against undiscovered defects — lender's policies protect the lender while owner's policies protect the buyer.
- Deed hierarchy: General Warranty > Special Warranty > Bargain and Sale > Quitclaim
- Quitclaim deed = NO warranties at all (used for clearing title clouds)
- Recording is optional but protects priority against later claims
- Owner's title insurance protects buyer; lender's policy protects the mortgage lender
Sample Title Transfer Questions
200+ in bankWhich type of deed provides the grantee with the greatest protection against title defects from any point in the property's history?
Oklahoma uses which type of recording system?
Title insurance primarily protects against which of the following?
Which best describes a quitclaim deed?
What is Oklahoma's documentary stamp tax rate on real estate transfers?
In Oklahoma, real estate documents such as deeds are recorded with which office?
Under Arkansas law, what is the realty transfer tax rate charged when real property is conveyed?
In Arkansas, with which office are real estate deeds and other property documents officially recorded?
Arkansas uses which type of recording system to determine priority among competing claims to real property?
Which type of deed provides a buyer with the greatest protection against title defects, including those arising before the grantor's period of ownership?
A special warranty deed guarantees that the grantor will defend the title against claims arising from which of the following?
An abstract of title is best described as which of the following?
Delaware's realty transfer tax, which can total up to 4% of the purchase price, is considered:
Which of the following best describes the legal concept of escheat?
Title insurance primarily protects the policyholder against which of the following?
Frequently Asked Questions
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