Escrow & Title
In West Virginia, which instrument is most commonly used to transfer title to real property?
ABill of sale
BGeneral warranty deed✓ Correct
CQuitclaim deed
DDeed of trust
Explanation
The general warranty deed is the most common deed used in West Virginia residential transactions. It provides the greatest protection to the buyer, as the grantor warrants title against all defects, even those arising before the grantor's ownership.
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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).
Deed of TrustA security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
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.
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