Final answer:
The statement that accurately reflects the type of deed used for the transfer is Option 3: Bargain and Sale Deed.
Step-by-step explanation:
The statement that accurately reflects the type of deed used for the transfer is Option 3: Bargain and Sale Deed.
A Bargain and Sale Deed is a type of deed used in the transfer of real property. It implies that the grantor is transferring the property to the buyer, but without any warranties against encumbrances.
On the other hand, a Warranty Deed guarantees that the grantor has clear title to the property and will defend the buyer against any claims or encumbrances. A Quitclaim Deed transfers the grantor's interest in the property, without any warranty or guarantee, and is commonly used for transfers between family members or to clarify ownership rights.
A Special Warranty Deed is similar to a Warranty Deed but offers a limited warranty that only protects against title defects that occurred during the grantor's ownership.