Check Your Understanding Answers
- What two warranties are implied in a grant deed?
- The grantor has not previously conveyed title to the property to another person
- The property is free of any encumbrances except those the grantee already knows about.
- What is important to know about a full covenant and warranty deed?
It is the deed that offers the greatest protection of any deed. With this type of deed the grantor gives certain covenants or warranties that promise the grantee will have ownership of the property that is unchallenged.
- What is the negative aspect of a bargain and sale deed with covenants?
The deed does not protect the grantee against claims that predate the owner's period of ownership.
- What is a quitclaim deed and what is probably its most common use?
With a quitclaim deed, the grantor makes no claim to any interest in the property being conveyed and offers no warrants to protect the grantee. It is often used in divorce settlements.
