Asked by Angel Martinez on Jun 04, 2024
Verified
The seller's warranty that he has marketable title to the land would be breached if the buyer discovers:
A) a lien on the land.
B) a defect in the chain of title.
C) a lease of the premises.
D) Any of these.
Marketable Title
A title to real property that is free from significant defects, encumbrances, or liens, and can be easily sold or mortgaged.
Warranty
A guarantee, typically from a manufacturer or seller, that a product will meet certain standards of quality and reliability or that specific repair or replacement actions will be taken if it does not.
- Comprehend the significance and function of title insurance within real estate dealings.
- Recognize the key varieties of deeds and their unique attributes.
Verified Answer
ZK
Zybrea KnightJun 04, 2024
Final Answer :
D
Explanation :
A seller's warranty of marketable title is breached if there are any liens, defects in the chain of title, or leases affecting the property that the buyer was unaware of, as these issues can affect the buyer's ability to use or sell the property.
Learning Objectives
- Comprehend the significance and function of title insurance within real estate dealings.
- Recognize the key varieties of deeds and their unique attributes.