Fundamentals of Surveying (FS) Practice Exam

Which document serves as a formal proof of property ownership transfer?

1. Contract of sale

2. Warranty deed

3. Quitclaim deed

4. Title abstract

The correct answer is: Warranty deed

The warranty deed serves as a formal proof of property ownership transfer because it includes specific guarantees from the seller (grantor) to the buyer (grantee). This document not only transfers the title but also ensures that the seller has clear ownership of the property and has the legal right to sell it. Furthermore, a warranty deed offers warranties that the property is free from liens and encumbrances, except as stated in the deed, which provides additional assurance to the buyer about the legitimacy of the ownership being conveyed. In contrast, while a contract of sale outlines the terms of the transaction, it does not serve as proof of ownership transfer itself until the actual deed is executed. A quitclaim deed transfers whatever interest the seller has in the property without making any guarantees about the extent of that interest or the property's title status. A title abstract compiles all public records affecting the property but isn’t a legal document that conveys ownership. The warranty deed, therefore, stands out for its comprehensive protections and guarantees during the property transfer process.