What must a deed specify regarding exceptions to the transfer?

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A deed must specify exceptions to the transfer by describing any encumbrances or liens associated with the property. This is crucial as it provides potential buyers with a clear understanding of any legal claims or restrictions that may affect their ownership rights. Encumbrances can include mortgages, easements, or other financial obligations that could impact the property in the future. By detailing these exceptions, the deed ensures that the buyer is fully informed of any potential issues that might arise, and it helps protect against future legal disputes regarding ownership or use of the property.

The other options do not align with the necessary legal requirements for deeds. While property value could be relevant for determining taxes or insurance, it is not a requirement for the deed itself. Listing previous owners or outlining the property's market history may be useful in certain contexts but does not fulfill the essential legal need to disclose encumbrances or liens that directly affect the property ownership and rights.

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