Final answer:
D) Granting clause
The clause that conveys rights and obligations in deeds is known as the Granting clause. It transfers ownership from seller to buyer, while other clauses serve other functions in a deed.
Step-by-step explanation:
The clause in all deeds that passes on the rights and obligations is known as the Granting clause. This clause is essential in property transactions as it explicitly transfers ownership from the seller to the buyer.
The Habendum clause is related but serves to define the extent of the ownership granted, such as life estate or fee simple. The Warranty clause is where the seller guarantees the title's quality they're conveying.
The Acknowledgment clause is where the parties signing the document acknowledge they are signing it willingly and that they are who they say they are.