Property Ownership
In Delaware, which type of deed is most commonly used when a property is sold at a sheriff's sale (foreclosure)?
AGeneral warranty deed
BSpecial warranty deed
CSheriff's deed (also called a judicial deed)✓ Correct
DQuitclaim deed
Explanation
A sheriff's deed (judicial deed) is issued by the court or sheriff when property is sold in a court-ordered sale (such as foreclosure). It provides no warranties of title beyond the rights held by the former owner.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
Deed of TrustA security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
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