A-3 Title Transfer - Deeds and Title Insurance Flashcards
A broad form title insurance policy is usually bought for the benefit of the: A. buyer B. New home buyer C. Purchaser under a land contract D. Lender
D - Lender
A quit claim deed is commonly used to: A. Convey title B. release an interest in title C. secure a loan D. cloud the title to real property
B - release an interest in title
Marketable title is all of the following EXCEPT:
A. Merchantable title
B. title to land that is free from encumbrances except those revealed
C. title a court would compel a purchaser to accept
D. perfect title
D - perfect title
a warranty deed covenants the grantee against a loss by: A. casualty B. defective title C. property damage D. eminent domain
B - defective title
an interest in title to real property, not government owned, obtained by action at law based on adverse possession best describes: A. acquisition B. squatter's rights C. Prescription D. homesteading
C - prescription
An example of involuntary alienation is where title to real estate passes by: A. Quit claim deed B. Trust deed C. Grant deed D. Sheriff's deed
D - Sheriff’s deed
A "Title Plant" is a: A. Collection of constructive notice information B. Subdivision map collection C. Policy of title insurance D. Publisher of title insurance policies
A - Collection of constructive notice information
First grant or patent in a chain of title is issued by: A. U.S. Government Patent Office B. A sovereign power C. The recorder of deeds D. The grantee of a simple deed
B - A sovereign power
An Affidavit of Value requires which of the following? A. Grantor's name and signature B. Grantee's name and signature C. Sales price of the property D. All of these
D - All of these
That which is not title, but gives the appearance of title is: A. Color of title B. Exoneration C. Alienation D. Subordination
A - Color of title
Which type of will does NOT require witnessing? A. Holographic B. Nuncupative C. Formal D. All require witnessing
A - Holographic
Which of the following would have the weakest claim to title?
A. a person living on a property with an unrecorded deed
B. a person living off the property with an acknowledged deed
C. a person living off the property with a recorded deed
D. a person living on the property with a recorded deed
B - A person living off the property with an acknowledged deed
If a property on which there is a lender’s policy of title insurance is sold and the loan is assumed:
A. The lender’s title policy is cancelled
B. The lender’s insurance policy continues in force
C. Policy is assumable if approved by title company
D. New grantee must financially qualify with the insurance company
B - The lender’s insurance policy continues in force
What is the maximum number of grantees that can be named in a deed? A. Two B. Four C. Any number D. Ten
C - any number
Which of the following type deeds would NOT give a bona fide buyer insurable quality of title to realty? A. Warranty deed B. Special warranty deed C. Quit claim deed D. Bargain and sale deed
C - Quit claim deed
When issuing a policy of title insurance, the title company is least likely to make an on-site inspection or survey if the policy is:
A. an ALTA policy on a residence
B. an extended coverage policy on a residence
C. an extended coverage policy on rural property
D. a standard policy of title insurance on a residence
D - a standard policy of title insurance on a residence
Recordation of a deed is the responsibility of the: A. Grantor B. Grantee C. Lendor D. Vendor
B - Grantee
The clause in a deed which sets forth or limits the extent of the interests in the title being conveyed is: A. the demising clause B. the testimonium clause C. the habendum clause D. the indenture clause
C - habendum clause
Which of the following items is NOT considered to be an element of a deed? A. Covenants B. the habendum C. the moratorium D. the testimonium
C - the moratorium
Which of the following is INCORRECT?
A. a grant deed implies that the property described is free from encumbrances except those revealed and that the grantor has not previously conveyed the property.
B. a grantor of a property is always a seller (vendor)
C. a quit claim deed does not always convey title
D. none of these
B - a grantor of a property is always a seller (vendor)
A deed which includes all statutory covenants and one warranty is called: A. limited warranty deed B. special seizin deed C. general warranty deed D. bargain and sale deed
A - limited warranty deed
Delivery of a deed legally takes place:
A. only when the grantor physically hands the deed to the grantee
B. when the grantor hands the deed to a neutral third party
C. when grantor hands the deed to a neutral third party with conditions and instructions to hand to the grantee
D. only when both the grantor has delivered and the grantee has received the deed
C - when grantor hands the deed to a neutral third party with conditions and instructions to hand to the grantee
Which of the following is NOT an appurtenance and does NOT pass with a standard warranty deed? A. Trade fixtures B. trees C. shrubs D. window blinds
A - trade fixtures
You pay cash down to the mortgage. What completes the transaction? A. signing of the purchase contract B. Delivery of the deed to the grantee C. signing of the mortgage D. signing of the affidavit of value
B - delivery of the deed to the grantee
A devise is an example of a/an\_\_\_\_\_\_\_\_\_\_\_\_\_\_ conveyance A. Involuntary B. Deductive C. Testamentary D. Defeasible
C - Testamentary (definition: of, relating to, or bequeathed or appointed through a will.)
A natural person will ordinarily deed his property by: A. quit claim deed B. general warranty deed C. special warranty deed D. disclaimer deed
B - general warranty deed
There are four major title evidences. Which one is in common use in Arizona? A. Abstract and opinion B. title insurance C. torrens certificate D. Certificate of title
B - title insurance
Under the \_\_\_\_\_, the grantor warrants that at the time of delivery, he or she has the right to convey legal title. A. covenant of seizin B. covenant of further assurance C. covenant of quiet enjoyment D. covenant of title
A - covenant of seizin
Which of the following warrants title by the seller for them and under them only? A. general warranty deed B. special warranty deed C. quit claim deed D. disclaimer deed
B - special warranty deed
The main difference in the various types of deeds is in their: A. warranties B. execution C. encumbrances D. legal description
A - warranties
Which of the following will a standard policy of title insurance insure against? A. forgery B. unrecorded encumbrances C. mining claims D. building codes
A - forgery
Which of the following deeds would give a buyer the greatest protection in a purchase? A. Deed in Lieu of Foreclosure B. quit claim deed C. warranty deed D. bargain and sale deed
C - warranty deed
A definition of involuntary alienation is:
A. title to property cannot be taken away without the owner’s consent
B. aliens may not hold title in fee simple
C. title to property can be conveyed by action of the court
D. the court can take a person’s property without compensations
C - Title to property can be conveyed by action of the court
Deeds are recorded:
A. to provide constructive notice of their existence
B. Because the law requires it
C. to guarantee ownership
D. to eliminate all other claims on title
A - to provide constructive notice of their existence
Which of the following is NOT synonymous with "title"? A. Right B. degree of interest C. possession D. estate
C - possession
Which of the following will NOT transfer real estate? A. Will B. Bill of sale C. Involuntary alienation D. voluntary alienation
B - Bill of sale
Which of the following is NOT necessary for a valid transfer of title to real estate? A. signing of the deed B. acknowledgement of the deed C. delivery of the deed D. recording of the deed
D - recording of the deed
Who has the weakest claim to title?
A. a person living on the property with a deed
B. a person living off the property with a recorded grant deed
C. a person living off the property with a quit claim deed
D. a person living on the property with a recorded grant deed
C - a person living off the property with a quit claim deed
When purchasing a piece of property in which your spouse is not to have any interest, which deed would be used to relinquish any rights to the property? A. quit claim deed B. gift deed C. disclaimer deed D. releasing deed
C - disclaimer deed
Which of the following documents would be used to remove a cloud on title? A. special warranty deed B. quit claim deed C. disclaimer deed D. bargain and sale deed
B - quit claim deed
An affidavit of value would be used in which of the following circumstances?
A. to assist the assessor in determining property taxes
B. to verify property square footage
C. to transfer title to the buyer
D. to remove existing liens on the property
A - to assist the assessor in determining property taxes
At what point does recordation take place? A. docket and page number are assigned B. at close of escrow date C. the date the document was signed D. the date the document was notarized
A - docket and page number are assigned
An easement created by open, continuous and exclusive use for 10 years is called: A. an easement by implication B. an easement by necessity C. an easement by prescription D. an easement by encroachment
C - an easement by prescription
When a buyer receives a standard title policy it would cover: A. questions of survey B. lender's rights C. incompetent grantors D. mechanics liens
C - incompetent grantors
when a condition is placed in a deed a violation of the condition could result in which of the following? A. forfeiture B. escheat C. estoppel D. encroachment
A - forfeiture
When a non-navigable stream recedes the land belongs to the adjacent property owner by: A. adverse possession B. easement by prescription C. reliction D. riparian rights
C - reliction
When the law allows for tacking this would refer to which of the following easements? A. appurtenance B. prescription C. in gross D. necessity
B - prescription
