Different Deeds Affect The Price Of Houses

Name:
Instructor:
Institution:
Date:
Exam extra credit
1. In general, what is the paper about?
The paper simply explains how different deeds affect the price of houses. The effect may be in form of providing details of the seller or the house. To illustrate this point, the paper applies a Bayesian spatial error model to prices of 37, 043 houses. It is obtained that warranty deeds attract high mortgage rates on houses than foreclosure and sheriff’s deeds (Friedman, 2017).
2. Why is this topic important?
The Real estate market is complicated, robust, and ever changing in the United States. Consequently this paper provides information about the essential parameters that a potential buyer must understand before making any purchase decisions. Title deeds and Title insurance are the main parameters in this case.
3. Provide a definition for each of the deed types analyzed in the paper. You may use your textbook or other sources (but not the paper itself!).  Make sure you properly cite any references.
a) Administrator deed: a deed that transfers real property from a deceased who did not write a will describing how her/his heirs will share the property.
b) Corporation deed: an instrument that transfers the ownership of real estate from one institution to another institution or person. In this case, the business institution that makes transfer does not need to be registered as a business firm.
c) Executor deed: unlike in administrator deed, the deceased person has a written will. Therefore, executor deed transfers real property to the heir in pursuant to the wishes of the will.
d) Fiduciary deed: this is a document used to transfer parcel or property when the grantor is a trustee, conservator, or guardian. This deed implies that the fiduciary is only acting because he/she has been appointed.
e) Trust deed: a document that transfers a particular estate to a trustee to obtain an obligation. In case of default on that obligation, the trustee has the option of selling that property.
f) Special warranty deed: this deed transfers to the beneficiary all of the legal rights the grantor has in the estate but only warranties what the deed distinctively indicate is warranted.
g) General warranty deed: transfers to the grantee all of the legal rights the grantor has in the real estate and clearly warranties that the grantor has a good title to the real estate.
h) Grant deed: it transfers to the grantee part or all lawful privileges the grantor has in the estate. This deed indicates two warranties; the estate has not been transferred to another paerty and no liens were placed on it by the grantor.
i) Quit claim deed: it transfers to the beneficiary part or all of the official rights the grantor has in the estate. However, it does not describe the extent of the grantor’s interest in the estate.
j) Foreclosure deed: a document that grants ownership of proper...