What Do You Know About Property Deeds?

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| By Barbara Bray
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Barbara Bray
Community Contributor
Quizzes Created: 11 | Total Attempts: 2,410
| Attempts: 341
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  • 1/9 Questions

    The grantor is the seller in a deed.

    • True
    • False
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About This Quiz

What do you know about property deeds? If you know anything about real estate, you must know that it is a written agreement in which people transfer property from the old owner to the new owner legally. Do you wish to learn more about it? Take up the quiz below and get to do just that. All the best!

What Do You Know About Property Deeds? - Quiz

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  • 2. 

    What are the two parties to a deed? Check all that apply.

    • Grantor

    • Trust

    • Title

    • Grantee

    Correct Answer(s)
    A. Grantor
    A. Grantee
    Explanation
    The two parties to a deed are the Grantor and the Grantee. The Grantor is the person or entity who is transferring the property rights, while the Grantee is the person or entity who is receiving the property rights. The Grantor is essentially the seller or transferor, while the Grantee is the buyer or transferee. The other options, Trust and Title, are not parties to a deed but may be involved in the transfer of property rights in certain circumstances.

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  • 3. 

    For a transaction to be considered arms-length, the buyer and seller must live in different states.

    • True

    • False

    Correct Answer
    A. False
    Explanation
    An arms-length transaction refers to a transaction where the buyer and seller are unrelated and act independently, without any influence or relationship that could affect the transaction. The location or residency of the buyer and seller does not determine whether a transaction is arms-length or not. Therefore, the statement that for a transaction to be considered arms-length, the buyer and seller must live in different states is false.

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  • 4. 

    What is the main function of a deed?

    • To transfer money from one person to another.

    • To take out a loan on a property.

    • To show proof of ownership of real property.

    • To transfer title of real property.

    • Both C and D

    Correct Answer
    A. Both C and D
    Explanation
    The main function of a deed is to show proof of ownership of real property and to transfer title of real property. By providing a deed, a person can demonstrate that they own a piece of real estate and can transfer that ownership to another party. This legal document serves as evidence of ownership and facilitates the transfer of property rights. Both options C and D correctly identify the main functions of a deed.

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  • 5. 

    A detailed list of the ownership history of a piece of real property is called what?

    • Chain of Title

    • Chain of Ownership

    • Owner History Report

    • T.P.S. Report

    Correct Answer
    A. Chain of Title
    Explanation
    A detailed list of the ownership history of a piece of real property is called the chain of title. This document provides a chronological record of all transfers, sales, and encumbrances that have occurred over time, establishing the current owner's legal rights and interests in the property. It is essential for ensuring a clear and marketable title during real estate transactions. The chain of title helps identify any potential issues or disputes that may arise, such as unresolved liens or conflicting claims, allowing for proper resolution before completing the sale or transfer of the property.

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  • 6. 

    A deed is a legal_________.

    • Weapon

    • Paper

    • Instrument

    • Trust

    Correct Answer
    A. Instrument
    Explanation
    A deed is a legal instrument that is used to transfer ownership or rights to a property or asset. It is a written document that provides evidence of the transaction and is legally binding. Deeds are commonly used in real estate transactions to establish ownership and transfer property rights from one party to another. They serve as a proof of ownership and provide legal protection to both the buyer and the seller. Therefore, the correct answer is instrument.

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  • 7. 

    A deed transfers ownership of a property from a father to a son. What type of transaction is this?

    • Trustee's deed

    • Arms-length transaction

    • Deed of trust

    • Non arms-length transaction

    Correct Answer
    A. Non arms-length transaction
    Explanation
    This transaction is considered a non arms-length transaction because it involves the transfer of ownership of a property between family members, specifically from a father to a son. In an arms-length transaction, the parties involved are unrelated and have no personal or familial relationship.

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  • 8. 

    The grantor and the grantee are always required to sign a deed.

    • True

    • False

    Correct Answer
    A. False
    Explanation
    A deed is a legal document that transfers ownership of property from one party (the grantor) to another party (the grantee). While it is common for both the grantor and the grantee to sign a deed, it is not always required. The requirement for both parties to sign a deed can vary depending on the jurisdiction and the specific circumstances of the transfer. In some cases, only the grantor's signature may be sufficient to make the deed legally valid. Therefore, the statement that the grantor and the grantee are always required to sign a deed is false.

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  • 9. 

    What is your favorite ocean or sea?

    Correct Answer
    N/A

Quiz Review Timeline (Updated): Mar 21, 2023 +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Mar 21, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Apr 03, 2015
    Quiz Created by
    Barbara Bray
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