Before you read
Test yourself first: 5 questions
Question 1 of 5
Two deeds to the same parcel from the same owner are delivered to different buyers. Under a typical recording (notice/race-notice) framework, priority generally goes to the:
Answer: C. Recording statutes generally protect the bona fide purchaser who takes without notice of the prior conveyance and records first, establishing priority of title.
Question 2 of 5
How does the premium structure of title insurance differ from most other types of insurance?
Answer: B. Title insurance is paid as a single, one-time premium at closing and protects against defects that already existed before the policy date, unlike other insurance that covers future events with recurring premiums.
Question 3 of 5
A company buys an old dry-cleaner site. To preserve an 'innocent landowner' defense under CERCLA, before closing it should:
Answer: B. The innocent-landowner defense requires ALL APPROPRIATE INQUIRY before purchase — satisfied by a Phase I ESA (records + site reconnaissance). Deeds and disclaimers cannot shed Superfund's strict, joint-and-several, retroactive liability.
Question 4 of 5
A foreclosure conducted through the courts is:
Answer: A. Judicial foreclosure goes through a court; non-judicial uses a power-of-sale clause (common with deeds of trust) without a full lawsuit.
Question 5 of 5
Which of the following is one of the THREE types of depreciation recognized in the cost approach?
Answer: B. The three appraisal types of depreciation are physical deterioration, functional obsolescence, and external (economic) obsolescence; the other choices are accounting concepts.
Keep the streak going with more questions like these, each with a full rationale.
What you need to know
SPECIAL (limited) WARRANTY DEED: warrants only against defects arising during the grantor's ownership. QUITCLAIM DEED: no warranties — conveys whatever interest the grantor has (or none); used to clear clouds on title. A deed must be in writing, signed by the grantor, and delivered/accepted.
Types of Deeds: FAQs
Is Types of Deeds on the real estate exam?
Yes. Contracts & Transfer of Title is a scored domain on the real estate licensing exam, and this topic appears in the national portion.
Is this cheat sheet free?
Yes — every page on Cinna RE's resource library is free to read, print and share. The app adds practice questions, mock exams and a readiness score.
