Escrow & Title
A Nebraska buyer who purchases at auction and receives a 'sheriff's deed' should be aware that this deed:
ACarries full general warranty coverage
BConveys the foreclosed owner's interest but with no personal warranty from the sheriff✓ Correct
COnly conveys half of the property interest
DIs invalid without a separate court order
Explanation
A sheriff's deed is issued after a judicial foreclosure sale. It conveys whatever interest the foreclosed owner had, but the sheriff provides no personal warranties of title.
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Key Terms to Know
Title Insurance
Insurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
DeedA 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.
EasementA non-possessory right to use another person's land for a specific purpose.
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