Escrow & Title
A Minnesota property is sold via auction. Which type of deed is typically used in an auction sale?
AGeneral warranty deed
BSpecial warranty deed✓ Correct
CQuitclaim deed
DSheriff's deed
Explanation
In auction sales, sellers typically provide a special warranty deed (also called a limited warranty deed), which guarantees title only against claims arising during the seller's ownership. The seller does not warrant against defects from prior owners.
Related Minnesota Escrow & Title Questions
- In Minnesota, a property tax certificate of real estate value (CREV) is required when:
- A Minnesota title company discovers the seller's name on the deed is misspelled (different from their legal name on all other documents). This is called a:
- In Minnesota, property taxes are paid:
- A subordination agreement in a mortgage transaction means:
- A Minnesota buyer is purchasing a home in Hennepin County. The deed will be recorded with which office?
- A Minnesota deed must be recorded to be valid against:
- In Minnesota, a title commitment issued before closing tells the buyer:
- In Minnesota, the deed tax is $1.65 per $500 of consideration (or fraction thereof). What is the deed tax on a $187,500 sale?
Practice More Minnesota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Minnesota Quiz →