Property Ownership
In North Dakota, a 'quitclaim deed' conveys:
AThe grantor's full warranty of title
BWhatever interest the grantor has in the property, without any warranties✓ Correct
COnly the mineral rights to the property
DTitle subject to a 10-year redemption period
Explanation
A quitclaim deed conveys whatever interest the grantor may have in the property (which could be full ownership or nothing at all) without any warranties of title. It is commonly used to clear up title defects, transfer property between family members, or in divorce settlements.
People Also Study
Related North Dakota Questions
- A 'quitclaim deed' in North Dakota conveys:Escrow & Title
- In North Dakota, which document is used to transfer title from a deceased person's estate to a buyer?Escrow & Title
- When a North Dakota deed is delivered but not recorded, the transfer of title between grantor and grantee is:Escrow & Title
- A North Dakota property owner conveys their home to their daughter using a deed but states: 'To daughter Sarah, but if she ever uses the property for a bar, title shall pass to my son John.' This is a:Property Ownership
- In North Dakota, a 'warranty of title' in a general warranty deed means the grantor will defend the title against:Escrow & Title
- Which appraisal approach is most commonly used for residential properties in the Fargo, North Dakota market?Property Valuation
- What is a 'gross lease' as commonly used for North Dakota commercial properties?Property Management
- In North Dakota, which type of mortgage gives the lender a security interest in the property, while the borrower holds title?Finance
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.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
Adjustable-Rate Mortgage (ARM)A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
Study This Topic
Practice More North Dakota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free North Dakota Quiz →