Property Ownership
A Wisconsin property sold by a sheriff's deed at a foreclosure sale conveys title:
AWith full general warranty of title
BWithout any warranty — what the court could convey✓ Correct
CWith a special warranty covering the sheriff's period of ownership only
DOnly after DSPS approves the deed
Explanation
A sheriff's deed conveys only the interest the court (through the sheriff) could convey — no warranties. The buyer at a foreclosure sale takes the title as-is.
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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).
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
AmortizationThe gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.
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.
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