Final answer:
The phrase in question refers to a 'covenant of further assurances,' where the grantor promises to rectify any title defects to ensure the grantee's good and marketable title to the property.
Step-by-step explanation:
The statement "The grantor will correct any defects in the title being conveyed" pertains to a type of warranty that is included in a deed of real estate, and the correct term for this commitment by the grantor is a covenant of further assurances. This covenant implies that the grantor promises to take any further actions necessary to correct problems with the title and ensure that the grantee receives a good and marketable title to the property. The other options provided, which include warranty (often referring to the general warranty that the title is valid), quiet enjoyment (the guarantee that the grantee will not be disturbed by previous title claims), and covenant of seisin (which ensures that the grantor owns the property and has the right to convey it), are related but address different aspects of title assurance in real estate transactions.