New Jersey Real Estate License Exam Practice Question
A potential buyer is interested in buying a house but wants to examine the deed recorded when the house was purchased by the current owner. Which of the following recorded instruments contains this information?
Correct Answer: B
Rationale: The deed is the legal document that transfers ownership of a property and contains crucial details about the current owner and the property's history. It provides the buyer with essential information regarding the rights associated with the property.
A mortgage, on the other hand, is a financial agreement that secures a loan against the property but does not convey ownership details. A tax lien represents a claim against the property for unpaid taxes and does not provide ownership history. Lastly, a title insurance policy protects against future claims but does not serve as a record of ownership. Thus, the deed is the appropriate instrument for examining ownership information.
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