Property Ownership
A Nebraska property owner conveys a parcel using a quitclaim deed. The grantee receives:
AGuaranteed clear title
BWhatever interest the grantor had at the time, with no warranties✓ Correct
CTitle protected by title insurance automatically
DTitle free of all liens
Explanation
A quitclaim deed conveys whatever interest the grantor has (if any) with no warranties of title. The grantee gets no protection against prior claims.
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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.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
Math Concepts
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