Manhattan Developers, Inc., pays Northeast Trust Company to release its claim to a strip of waterfront property. Northeast gives

Question

11Alexandr11 [23.1K]

2 years ago

12

Manhattan Developers, Inc., pays Northeast Trust Company to release its claim to a strip of waterfront property. Northeast gives

Manhattan a deed that conveys only whatever interest Northeast has in the strip. This deed is

Business

1 answer:

soldier1979 [14.2K] · Answer 1 · 2023-03-23T20:20:47+03:00

"Manhattan Developers, Inc., pays Northeast Trust Company to release its claim to a strip..." this is a quitclaim deed. This is further explained below.

Generally, the deed is simply defined as Legal documents that are signed and delivered, particularly those that deal with property or legal rights.

In conclusion, When a company pays another company to relinquish a claim to a strip mine, it is executing a quitclaim deed.