Which of the following instruments does NOT transfer an interest in real property?
Correct Answer
C) A bill of sale
A bill of sale transfers title to personal property - appliances, vehicles, business equipment - and has no power to convey an interest in land. Each of the other instruments moves a real property interest: a grant deed conveys the grantor's estate to the grantee, a lease carries a leasehold estate with the right of exclusive possession for the term, and an agreement of sale, also called a land contract, gives the buyer equitable title while the seller keeps legal title as security. Because only the bill of sale operates outside conveyancing law, it is the instrument that transfers no interest in real property. Sales of income property often use both documents: a deed for the land and building, a bill of sale for the furnishings and equipment.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
Recording is the act of placing a document in the public records at the county recorder's office to give constructive notice to the world of an interest in real property. Recording protects the holder's interest against subsequent claims.
A special warranty deed guarantees that the grantor has not caused any title defects during their period of ownership, but does not warrant against defects that existed before the grantor acquired the property.
Title insurance is a policy that protects the insured party against financial loss from defects in title that were not discovered during the title search. Unlike other insurance, it covers past events rather than future risks.
More Transfer Of Property Questions
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- → Kevin buys a home in Oakland and takes a CLTA standard coverage owner's policy at closing. Eight months later a contractor who had finished work for the prior owner before the sale records a mechanic's lien against the property. Nothing about that work or the contractor's claim appeared in the public record on the date Kevin's policy was issued. How is Kevin's claim under his policy most likely to be treated?
- → Owner A received a deed to a California property in January 2024 and recorded it that same month. In March 2024 the same grantor deeded the property to Owner B, who paid fair market value, searched no records, and recorded immediately. Under California's race-notice recording statute, which owner prevails?
- → Under California law, what is the consequence when a property buyer fails to file the Preliminary Change of Ownership Report (PCOR) at the time the deed is recorded?
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- → A California buyer's agent explains the concept of 'split escrow' to her client. In California, what does the term 'split escrow' refer to?
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- → In a deed, the clause that defines the nature of the estate being granted is the:
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