What document is used to transfer title from seller to buyer?

Study for the FBLA Real Estate Exam with flashcards and multiple choice questions that offer hints and explanations. Prepare effectively for success in your exam!

Multiple Choice

What document is used to transfer title from seller to buyer?

Explanation:
The document used to transfer title from the seller to the buyer is known as a deed. A deed is a legal instrument that conveys the ownership of real property from one party to another, and it must be executed with specific formalities to be valid. This includes being in writing, signed by the parties involved, and usually requiring notarization. Additionally, the deed contains specific details about the transaction, such as the names of the parties, a description of the property being transferred, and any covenants or warranties provided by the seller. Once executed and delivered, the deed acts as evidence of the buyer's ownership of the property. While terms like "transfer document," "property deed," and "title document" may seem related, they are not the standard terminology used in real estate for this specific action. The term "deed" is the recognized and accepted document that legally conveys title.

The document used to transfer title from the seller to the buyer is known as a deed. A deed is a legal instrument that conveys the ownership of real property from one party to another, and it must be executed with specific formalities to be valid. This includes being in writing, signed by the parties involved, and usually requiring notarization.

Additionally, the deed contains specific details about the transaction, such as the names of the parties, a description of the property being transferred, and any covenants or warranties provided by the seller. Once executed and delivered, the deed acts as evidence of the buyer's ownership of the property.

While terms like "transfer document," "property deed," and "title document" may seem related, they are not the standard terminology used in real estate for this specific action. The term "deed" is the recognized and accepted document that legally conveys title.

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