A Deed Must Be Recorded in Order To

question 46

Multiple Choice

A deed must be recorded in order to:

• A) make the deed valid
• B) protect the purchaser from third parties to whom the seller might also have given deeds
• C) insure that the interest transferred is a fee simple
• D) put the property on the tax rolls

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Definitions:

Noncash Assets

Assets that are not in the form of cash or cannot be easily converted to cash, such as real estate, equipment, and intellectual property.

Liquidation Expenses

Costs associated with winding up a business's operations, including paying off debts, selling assets, and distributing the remaining assets to shareholders.

Account Balances

The amounts remaining in financial accounts at a specific point in time, reflecting the difference between debits and credits.

Maximum Amount

The highest possible value or quantity that can be achieved or allowed in a particular context.