RE-160 Lecture Notes - Lecture 24: Quitclaim Deed, Warranty Deed, Title Insurance

• School: Diablo Valley College
• Department: Business Accounting/Management/Marketing/Real Estate
• Course: RE-160
• Professor: burnaford

Document Summary

Lenders are also concerned about title assurance because the quality of title affects the collateral value of the property in which they may have secured interest. Title refers to an abstract term used to link an individual or entity who owns property. A person who has title is said to have all of the elements, including the documented records acts that prove ownership. An abstract of title is a historical summary of the publicly recorded documents that affect a title. The quality of the title conveyed form seller to buyer depends upon the effect these documents have upon the seller"s rightful possession of his or her property. Deeds title is conveyed from one person (grantor) to another (grantee) by means of a written instrument called deed. General warranty deed the grantor warrants that the title he or she conveys to the property is free and clear of all encumbrances other than those specifically listed in the deed.