2.4

Question 0

It is called ______ when one person owns real estate.

Answer 0

Tenancy in Severalty

Question 1

What is it called when a corporation owns real estate?

Answer 1

Syndication

Question 2

______ is the type of ownership when a property is owned by two or more people at the same time with undivided equal shares.

Answer 2

Joint Tenancy

Question 3

________ is the type of ownership when a property is owned by two or more people at the same time with divided shares that are not necessarily equal.

Answer 3

Tenants in Common

Question 4

Each joint tenant has the four unities of time, title, interest and _______.

Answer 4

Possession

Question 5

Each joint tenant has what kind of right to possess the whole property?

Answer 5

Undivided

Question 6

_________ is the type of ownership when a property is owned entirely by one person or one legal entity such as a corporation.

Answer 6

Sole Ownership

Question 7

It is called ________ when a deed is transferred.

Answer 7

Alienation

Question 8

What is the purpose of Bill of Sale?

Answer 8

To transfer ownership of chattel (personal property).

Question 9

True or False:

A quitclaim deed can be used to clear a cloud on the title.

Answer 9

True

Question 10

True or False:

A garage door is considered chattel.

Answer 10

False

Question 11

The moment the deed is _________ conveyance occurs.

Answer 11

Delivered and Accepted

Question 12

True or False:

Property ownership can be transferred by dedication.

Answer 12

True

Question 13

______ is the act of conveying or transfering title and possession of a property.

Answer 13

Alienation

Question 14

________ is the right of ownership to a tract of land granted by the federal or state government.

Answer 14

Land-patent

Question 15

A ____ is the document that transfers ownership of real estate.

Answer 15

Deed

Question 16

_______ is the act of handing over the deed.

Answer 16

Alientation

Question 17

True or False:

A deed provides a legal description of the property.

Answer 17

True

Question 18

A ___________ is the most common form of deed.

Answer 18

Warranty Deed

Question 19

A _________ deed transfers any ownership interest the grantor/seller has in the property, but makes no promises or guarantees about what that interest is or whether that title is good.

Answer 19

Quitclaim Deed

Question 20

A _________ happens when a home is in foreclosure and there is a public auction.

Answer 20

Sheriff’s Sale

Question 21

What type of deed protects the grantee against title defects or clams that may arise from the period of time that the grantor held title?

Answer 21

Special Limited Warranty Deed

Question 22

Real property is another name for _________.

Answer 22

Real Estate

Question 23

By signing a Deed there is a/an ______ of property.

Answer 23

Alienation

Question 24

A _________ exists when a public entity is transferring ownership to a private individual.

Answer 24

Land-patent

Question 25

________ is the gift of land for public use.

Answer 25

Dedication

Question 26

_________ transfers property from private ownership to public ownership.

Answer 26

Dedication

Question 27

True or False:

The deed contains the names of the previous owners as well as the new ones.

Answer 27

True

Question 28

A Special Limited Warranty Deed agrees to protect the grantee against title defects or claims that may arise from what period of time?

Answer 28

The period of time that the grantor held the title.

Question 29

Another name for the Bargain and Sale Deed is _________.

Answer 29

Sheriff’s Sale Deed

Question 30

When a home is in foreclosure, there is a public auction that is called a ____________.

Answer 30

Sheriff’s Sale

Question 31

True or False:

Quitclaim deeds are commonly used to transfer property between friends or family members.

Answer 31

True

Question 32

A _________ deed transfers any ownership interest the grantor/seller has in the property, but makes no promises or guaranteers about what that interest is, or whether that title is good.

Answer 32

Quitclaim Deed

Question 33

______ is when the grantor has the right to convey title to a property.

Answer 33

Warranty of Seisin (or covenant of seisin).

Question 34

The portion of a deed with phrase “To have and to hold,” with a description of the ownership rights of the transferee of the property, is called the __________.

Answer 34

Habendum clause

Question 35

______ is a term for “what belongs to and goes with something else.”

Answer 35

Appurtence