Escrow & Title
A Kentucky property is transferred through a sheriff's deed following a foreclosure. A sheriff's deed typically conveys:
AFull warranty of title as with a general warranty deed
BWhatever interest the judgment debtor had, without any warranties✓ Correct
CClear title free of all prior liens
DTitle subject to the buyer's approval period
Explanation
A sheriff's deed (issued in foreclosure or execution sales) conveys only the interest the judgment debtor had in the property, without any warranty of title. The buyer receives the same quality of title the debtor had — no more and no less.
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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).
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Short SaleA sale of real property where the sale proceeds are less than the outstanding mortgage balance, requiring lender approval.
AmortizationThe gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.
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