Ch.8 Deeds, Contracts, and Leases

Which type of deed is similar to a mortgage document?

trustee

no

buyer

From the buyer's standpoint, what is the weakest type of deed?

quitclaim

Which is the best type of deed for the buyer?

warranty

in writing

reasonable price

The cancellation of a contract by mutual agreement of the parties" is the definition of

recission

default

specific performance

executed

all of the above

A reconveyance may be employed if there is a

deed of trust

gross

consideration

voidable

A form of conveyance in which any interest the grantor possesses in the property described in the deed is conveyed to the grantee without warranty of title" is the definition of a ________________ deed.

quitclaim

state

Both A and B

A deed that conveys real property from a seller to a buyer but does not guarantee clear title; used by court officials and fiduciaries to convey property they hold by force of law, but to which they do not hold title is the definition of a ____________dee

bargain and sale

breach of contract

A legally binding agreement between two or more persons that represents their promise to do or not to do a particular thing" is the definition of a(n)

contract

bilateral

A contract in which one party makes a promise in order to induce another party to do something is a(n) __________________ contract.

unilateral

warranty

injunction