Contracts, Transfer, and Escrow Practice Question
Question
A buyer and seller disagree about a transaction term involving grant deed. Which statement is the most accurate exam answer? (Item 94)
Answer choices
- A. It is valid only when the buyer pays cash and no lender is involved.
- B. Identify implied warranties commonly associated with a California grant deed.
- C. It prevents any later disclosure, even when new facts become known.
- D. It applies only to commercial property and never to residential transactions.
Correct Answer
B. Identify implied warranties commonly associated with a California grant deed.
Explanation
The correct answer is B because grant deed requires candidates to identify implied warranties commonly associated with a California grant deed. The other options overstate the effect of custom, oral agreement, escrow, or independent salesperson action and do not reflect safe California exam practice.
Question details
- Difficulty: medium
- Domain: Contracts, Transfer, and Escrow
- Objective: grant deed