Free 5-question sample test with instant feedback. See how ready you are.
Question 1
What is the legal term for the person who conveys title to real property in a deed?
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?
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?
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?
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?
Answer: A general warranty deed. It contains covenants of seisin, quiet enjoyment, against encumbrances, further assurance, and warranty forever.