Escrow & Title
In Kansas, which document is typically used to transfer title from seller to buyer?
AMortgage deed
BDeed of trust
CWarranty deed or quitclaim deed✓ Correct
DAssignment of contract
Explanation
In Kansas, a warranty deed (general or special) or a quitclaim deed is typically used to transfer title from seller to buyer at closing.
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Key Terms to Know
Deed of Trust
A security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
DeedA 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.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
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