Ask Question
BusinessBusiness
1 November, 03:03

A bank wants to convey title to a foreclosed property but does not want to give any title warranties or have any future claims or liabilities. Which type of deed should the bank use?

+2
Answers (1)
  1. 1 November, 05:33
    0
    The correct answer is letter "A": Quitclaim deed.

    Explanation:

    Most property transactions involve private deeds. General Warranty deeds provide the buyer with the most protection while Quitclaim deeds provide the least. Purchasing the least amount of protection implies accepting whatever interest the previous property owner (grantor) passing the property. No warranties or promises regarding the title's quality are made.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A bank wants to convey title to a foreclosed property but does not want to give any title warranties or have any future claims or ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
What two factors inhibit the ability of rivals to imitate a firm's most valuable resources and capabilities?
Answers (1)
Changes in board of director configurations over time indicate that currently boards are dominated by outsiders (with over 84 percent being outside board members).
Answers (1)
A stock has an expected return of 12.2 percent, the risk-free rate is 6 percent, and the market risk premium is 10 percent. What must the beta of this stock be? (Do not round intermediate calculations and round your a
Answers (1)
Molly company sells 39,000 units at $42 per unit. Variable costs are $33.6 per unit, and fixed costs are $154,000. Determine (a) the contribution margin ratio, (b) the unit contribution margin, and (c) income from operations. a.
Answers (1)
Whirly Corporation's contribution format income statement for the most recent month is shown below: Total Per Unit Sales (7,500 units) $ 255,000 $ 34.00 Variable expenses 142,500 19.00 Contribution margin 112,500 $ 15.
Answers (1)
New Questions in Business
Direct comments taken from another author do not have to be paraphrased
Answers (1)
No Child Left Behind legislation is the current reauthorization of the Elementary and Secondary Education Act of 1965. True False
Answers (2)
Harry's Hotdogs is a small street vendor business owned by Harry Huggins. Harry is trying to get a better understanding of his costs by categorizing them as fixed or variable.
Answers (1)
A registered representative opens a new account for a customer by telephone and receives an order to sell 300 shares of ABC at the market.
Answers (1)
Brian brewster sold property to a buyer who paid him $400,000 cash and assumed an existing mortgage of $150,000
Answers (1)
Home » Business » A bank wants to convey title to a foreclosed property but does not want to give any title warranties or have any future claims or liabilities. Which type of deed should the bank use?
Sign Up Forgot Password?