Which type of deed is used to convey full ownership of a property?

Prepare for the National and UST Mortgage 1 Test. Use detailed study materials including flashcards and multiple choice questions with hints and explanations. Ensure success on your exam!

The warranty deed is the correct type of deed used to convey full ownership of a property. This type of deed provides a high level of protection to the grantee (the party receiving the property), as it guarantees that the grantor (the party transferring the property) holds clear title to the property and has the right to sell it. Additionally, the warranty deed includes certain covenants that assure the grantee that the property is free from any encumbrances or claims that could affect ownership. This means that the grantor is legally obligated to defend the title against any future challenges that may arise.

In contrast, a deed rider typically modifies an existing deed rather than conveying ownership on its own. A note refers to a financial instrument that outlines a borrower's promise to repay a loan and is not used for transferring property ownership. Lastly, a deed of trust serves as a security instrument in a real estate transaction, where the property is collateral for a loan, but it does not convey ownership in the way that a warranty deed does. The warranty deed's comprehensive protection and assurance of ownership rights are what make it the appropriate choice for conveying full ownership of a property.

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