ASK YOUR REALTOR

QUESTION 14:

Which of the following is NOT INTENDED to convey legal title?

a) warranty deed
b) deed-in-trust
c) quitclaim deed
d) bargain and sale deed

ANSWER:
We know by our general knowledge that neither (a) nor (d) is the correct answer. We know this because as we read the question we CAPITALIZED the key words in the question, "NOT INTENDED." Both these deeds are normally used or are intended to convey title. That is their purpose. But (b) and (c) are difficult choices. A deed-in-trust is a mortgage, and its purpose is to give legal title to a mortgagee if the mortgagor defaults or breaches the mortgage contract. It is NOT INTENDED to convey title UNLESS an event occurs which forces foreclosure.

The answer is (c). A quitclaim deed is used to convey an interest or to correct a flaw in title.

ITS INTENTION CLEARLY IS NOT TO CONVEY LEGAL TITLE.

From the desk of

Aden Shelters Ltd
RC 1743601

For further details & more information, please contact:

Realtor Michael
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+234 907 957 2044
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+234 818 251 5733
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+234 806 229 8875

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