Question 1

What is the legal term for the person who conveys title to real property in a deed?

Accepted Answer

The grantor. The grantor is the seller or transferor who signs the deed and conveys ownership to another party.

Question 2

What is the minimum consideration required to make a deed legally valid in New York?

Accepted Answer

One dollar (or any nominal consideration). The law requires consideration to be stated, but it need not reflect the actual sale price.

Question 3

Which essential element of a deed ensures the property is described precisely enough to be located and distinguished from all other parcels?

Accepted Answer

A legal description. It must identify the property with certainty using a method such as metes and bounds, lot and block, or monument references.

Question 4

What is the purpose of the habendum clause in a deed?

Accepted Answer

The habendum clause defines the extent of ownership being transferred, beginning with the words 'to have and to hold.'

Question 5

Which type of deed provides the grantee with the greatest protection by including all five covenants of title?

Accepted Answer

A general warranty deed. It contains covenants of seisin, quiet enjoyment, against encumbrances, further assurance, and warranty forever.

Transfer of Title – NY Real Estate Salesperson Exam

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