Nevada Real Estate Practice Exam 2025 – The All-in-One Guide to Mastering Your Real Estate License!

In a real estate transaction, the warranty deed plays a crucial role at closing as it serves as the legal document that formally transfers ownership of the property from the seller to the buyer. This deed guarantees that the seller has the right to sell the property and that it is free from any liens or encumbrances, thus providing legal protection to the buyer.

While other documents, like a title report, purchase agreement, and disclosure statement, are important throughout the transaction process, they each serve different functions. The title report confirms the legal ownership and status of the property, the purchase agreement details the terms by which the property is being sold, and the disclosure statement reveals any known defects or issues with the property that could affect its value or desirability. However, it is the warranty deed that is essential at closing as it finalizes the transfer of ownership and ensures that the buyer is receiving clear title to the property.