New Jersey Real Estate Practice Exam Practice Question
A quitclaim deed is generally used for which of the following purposes?
Correct Answer: B
Rationale: A quitclaim deed is primarily utilized to remove a cloud on the title, which means it helps clarify ownership when there are uncertainties or disputes.
Option A is incorrect as a quitclaim deed does not guarantee any specific type of title, such as fee simple; it simply transfers whatever interest the grantor has.
Option C is misleading; while quitclaim deeds can be involved in foreclosures, they are not specifically designed for this purpose.
Option D is also wrong because a quitclaim deed does not impose liability on the grantor for any defects in the title, as it offers no warranties about the property.
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