Escrow & Title
The primary difference between a grant deed and a quitclaim deed is:
AA grant deed transfers more land than a quitclaim
BA grant deed includes an implied warranty that the grantor hasn't previously conveyed the property to another or encumbered it, while a quitclaim has no warranties✓ Correct
CA quitclaim can only be used for commercial property
DA grant deed requires court approval
Explanation
A grant deed includes two implied warranties: (1) the grantor hasn't previously transferred the property to another, and (2) the property hasn't been encumbered except as disclosed. A quitclaim deed contains no warranties of any kind.
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- Which of the following items is typically credited to the buyer on the closing statement?
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