Property Ownership
A deed must contain which of the following to be valid in Nebraska?
AA notarized signature from the grantee
BGranting clause (words of conveyance), identification of grantor and grantee, and a legal description✓ Correct
CThe purchase price in full
DA copy of the title insurance policy
Explanation
A valid Nebraska deed must include: identification of the grantor and grantee, a granting clause (words conveying the property), a legal description of the property, and the grantor's signature. Recording requires notarization.
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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).
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.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Loan-to-Value Ratio (LTV)The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.
State-Specific Concepts
Recording Requirements
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