A deed in Alaska must contain which of the following elements to be valid?
Why A consideration amount, granting clause, legal description, grantor signature, and delivery Is Correct
Answer A: A consideration amount, granting clause, legal description, grantor signature, and delivery
Exam Tip: Property Ownership
Property ownership questions test the bundle of rights and different forms of ownership. Know the differences between joint tenancy, tenancy in common, and community property, including the right of survivorship.
Key Property Ownership Terms in This Question
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Title InsuranceInsurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
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- In Alaska, a 'legal description by reference' in a deed means the property is identified by:Escrow & Title
- A warranty deed in Alaska provides the grantee with:Escrow & Title
- In Alaska, which legal description method is most commonly used for rural and remote land?Property Valuation
- In Alaska, a deed conveying property 'to John and Mary as joint tenants with right of survivorship' requires which of the four unities?Property Ownership
- In an Alaska installment land contract (contract for deed), legal title is held by:Contracts
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Key Terms to Know
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Title InsuranceInsurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
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