Under Arizona law, a deed must contain which of the following to be valid?
Why Grantor's name, grantee's name, legal description, and words of conveyance—all are required Is Correct
Answer D: Grantor's name, grantee's name, legal description, and words of conveyance—all are required
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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- Arizona law requires that contracts for the sale of real property include an adequate legal description. Which of the following is NOT an acceptable legal description?Contracts
- For a deed to be valid in Arizona, it must include all of the following EXCEPT:Escrow & Title
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- A deed in Arizona that provides the GREATEST protection to a buyer with warranties against all prior claims (even those before the grantor owned the property) is a:Property Ownership
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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).
Closing CostsFees and expenses paid by the buyer and/or seller at the closing of a real estate transaction, in addition to the property's purchase price.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
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