Which of the following statements concerning a bargain and sale deed is true?

Prepare for the National Salesperson Exam with multiple choice questions, each offering explanations and hints. Hone your skills and get ready to succeed on the test!

A bargain and sale deed is a type of real estate deed that conveys property from one party (the grantor) to another (the grantee) without explicit warranties against encumbrances or claims. The correct statement about a bargain and sale deed is that it implies some warranty by the grantor. This means that while the grantor is not providing the extensive protections found in general warranty deeds, there is still an implication that the grantor holds title to the property and has the right to convey it.

The implication of some warranty can be important to the grantee since it suggests a degree of assurance about the property's title, even if the protection is not as comprehensive as that found in a warranty deed. It establishes a basic level of trust in the legitimacy of the grantor's title, which the grantee can rely on.

In contrast, other options do not accurately reflect the nature of a bargain and sale deed. While it does not offer full protection to the grantee or include covenants against future claims, it does allow the grantor to retain some rights related to the property. However, the key point here is the implication of a warranty by the grantor, making the correct statement particularly relevant to understanding how a bargain and sale deed

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy