In Alaska, property sold at a tax deed sale is typically transferred via a:
Why Quitclaim deed or tax deed with limited warranties Is Correct
Answer B: Quitclaim deed or tax deed with limited warranties
Exam Tip: Escrow & Title
Escrow questions test the neutral third-party role and the sequence of closing events. Remember that the escrow agent acts as a dual agent for both buyer and seller and cannot advocate for either side.
Key Escrow & Title Terms in This Question
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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.
Transfer TaxA tax imposed by state or local governments when real property ownership is transferred, typically based on the sale price.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
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