Contracts, Transfer, and Escrow Practice Question
Question
An escrow officer requests clarification from the broker involving grant deed. Which statement is the most accurate exam answer? (Item 74)
Answer choices
- A. It is primarily a tax rule with no effect on brokerage practice.
- B. Identify implied warranties commonly associated with a California grant deed.
- C. It removes the need for written disclosure if the licensee believes the client already knows.
- D. It can be ignored if the transaction is expected to close quickly.
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