Missouri Title Producer Exam Methods of Transfers/Conveyances | Questions & Answers
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Warranty Deed - A deed used to convey real property which contains warranties of title and quiet
possession and the grantor thus agrees to defend the premises against the lawful claims of third
persons.
Operative words of conveyance - "Conveys and warrants"
General Warranty Deed - A deed containing a covenant whereby the seller agrees to protect the buyer
against claims to the land.
Special Warranty Deed - A deed containing a covenant whereby the seller agrees to protect the buyer
against being dispossessed because of any adverse claims to the land by the seller or anyone claiming
through the seller.
Quit Claim Deed - A deed operating as a release intended to pass any title, interest, or claim which the
grantor may have in the property, but not containing any warranty of a valid interest or title in the
grantor.
Deed of Trust - A document by which the title to land is conveyed as security for the repayment of a loan
or other obligation. It is a form of mortgage. The mortgagor is giving the trustee title/ownership of the
property, but retains the rights to use and live on the property. The trustee holds the original deed for
the property until the loan is repaid. When the loan is repaid the trustee returns the title by
reconveyance. If the loan becomes delinquent, the beneficiary can file a notice of default.
Note - A unilateral agreement containing an express and absolute promise of the signer to pay to a
named person a sum of money at a specified date or on demand. Usually provides for interest and is
secured by a mortgage or trust deed.
Foreclosure - A legal proceeding in which real estate secured by a mortgage or deed of trust is sold to
satisfy the underlying debt.
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