Chapter 6: Transferring and Recording Title to Real Estate Flashcards
Which of the following best describes the concept of “legal title” to real estate?
Ownership of the bundle of rights to real estate
A person claims ownership of a parcel of real estate to a prospective buyer, stating that she has lived on the property for five years and nobody has ever bothered her. The claimant also shows the buyer a copy of the deed. The legal basis of this claim is referred to as…
actual notice
Constructive notice of ownership of a parcel of real estate is primarily demonstrated through…
title records
An owner transfers title to a property to a buyer in exchange for consideration. This is an example of…
voluntary alienation
For a deed to convey title, it is necessary for the deed to be…
accepted by the grantee
The only required clause in a deed of conveyance is one that…
states the grantor’s intention, names the parties, describes the property, and indicates a consideration
The purpose of a covenant clause in a deed of conveyance is to…
state the grantor’s assurance or warrant to the grantee that a certain condition of fact concerning the property is true
The type of statutory deed that contains the most complete protection for the grantee is a…
general warranty deed
A person wishes to convey any and all interests in a property to another without making any assurances as to encumbrances, liens, or any other title defects on the property. This party would most likely use which of the following type of deed?
a quitclaim deed
A one-time tax levied on a property for purposes of recording a transaction is called…
a documentary stamp tax
If a person dies with no legal heirs or relations and has left no valid will, what happens to real property owned by that person?
It is taken by the state according to the process called escheat
Just prior to passing away, a person tells two witnesses that she would like her estate to pass to her husband. One witness records the statement and signs his name. This is an example of…
an unenforceable nuncupative will
If a person having several heirs dies intestate, the property will…
pass to heirs by the laws of descent and distribution
A property owner can avert the danger of losing title by adverse possession by…
inspecting the property and evicting any trespassers found
A hermit secretly lives in a cave on a 200-acre property. After twenty years, the person makes a claim of ownership to the property. This claim will likely be…
declined because possession was secretive
