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Unformatted text preview: MANAGEMENT 4803 LEGAL ASPECTS OF REAL ESTATE COLLEGE OF MANAGEMENT GEORGIA INSTITUTE OF TECHNOLOGY PROFESSOR LUCIEN J. DHOOGE OVERVIEW OF CHAPTER 10 Chapter 10 is concerned primarily with the closing process and other methods of acquisition of real property. Title to real property is transferred through an instrument known as a deed. There are three basic types of deed. General warranty deeds provide the greatest protection to the grantee. The grantor of a general warranty deed warrants that he or she has good title to the property free and clear of all liens not previously identified and the grantee’s right to possession will not be subject to unreasonable interference. The grantor warrants only that there are no adverse claims to the property arising through his ownership of the property in a special warranty deed. A quitclaim merely serves to transfer to the grantee whatever interest the grantor maintains in the property. There are several requirements which must be met before a document may serve as a deed. However, most transactions utilize form deeds that clearly satisfy these requirements. form deeds that clearly satisfy these requirements....
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This note was uploaded on 01/25/2011 for the course MGT 4803 taught by Professor Staff during the Fall '08 term at Georgia Tech.
- Fall '08