A Quitclaim Deed _____

question 13

Multiple Choice

A Quitclaim Deed _____.

• A) Has no legal consequence.
• B) Is use to transfer title to real property with no warranties of title.
• C) Is used to transfer title to real property with full warranties of title.
• D) Is obsolete and no longer used in modern real estate transactions.

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Definitions:

Carrying Value

Carrying value, also known as book value, is the value of an asset as reflected in an entity's accounting records, minus any depreciation, amortization, or impairment costs.

Bond Payable

A form of long-term debt issued by corporations, governments, or other entities to investors with a promise to pay a specified sum of money at a future date.

Par Value

The face value of a bond or stock as stated by the issuing company, which may differ from its market value.

Semiannually

Occurring twice a year, typically every six months, often used in the context of payments, evaluations, or reporting.