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A1 Florida Real Estate Sales Associate License > Chapter 9: Title, Deeds, and Owner Restrictions > Flashcards

Chapter 9: Title, Deeds, and Owner Restrictions Flashcards

1
Q

Title = _____

A

ownership

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2
Q

Title to _____ is the ownership of specified rights to that property that forms an _____.

A

real property

estate

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3
Q

Physical possession of a property counts as which type of notice of ownership?

A

actual notice

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4
Q

Recording documents in public record is considered which type of notice of ownership?

A

constructive notice

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5
Q

true/false: Deeds must be recorded in public record.

A

false

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6
Q

true/false: To record a deed in public record, it must be acknowledged.

A

true

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7
Q

Legal priority of actual and constructive notice are _____.

A

the same

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8
Q

_____ or _____ title to real property is title in fee simple that is free from litigation and defects, enabling an owner t hold it in peace or sell it.

A

marketable or merchantable

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9
Q

There is no such thing as proof of good title, only _____ to support the claim.

A

evidence

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10
Q

A search of the public records, linking all past owners of a parcel of land from root of title to present day is called a _____.

A

chain of title

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11
Q

Abstracting and title insurance companies compile copies of documents from the public records into a _____.

A

title plant

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12
Q

When an attorney reviews an abstract and renders a written opinion, it’s called an _____.

A

opinion of title

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13
Q

_____ provides financial protection against losses sustained as the result of a defective title.

A

Title insurance

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14
Q

Mortgage lenders will insist on a borrower obtaining a _____ title policy before making a loan.

A

mortgagee (lender’s)

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15
Q

A mortgagor’s title insurance policy _____ transferable.

A

is not

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16
Q

A mortgagee’s title insurance policy _____ transferable.

A

is

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17
Q

true/false: There is no Florida law that requires title insurance be obtained.

A

true

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18
Q

A _____ transfers ownership of property from the government to an individual.

A

public grant

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19
Q

A _____ is a document that conveys title from one party to another.

A

deed

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20
Q

A _____ is a document that transfers title upon the death of an individual testate.

A

will

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21
Q

_____ is a legal principle under which an owner may lose title to a property after 7 years of adverse, hostile, exclusive possession if the possessor pays the taxes.

A

Adverse possession

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22
Q

_____ is a legal principal under which a property can be lost for failure to provide notice of ownership.

A

Estoppel

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23
Q

_____ is a system created by law under which title transfers to the legal heirs upon the death of an individual intestate.

A

Descent and distribution

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24
Q

The government’s right to take private property for public benefit is _____.

A

eminent domain

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25
Q

Reversion of property to the state if someone dies intestate and with no heirs is called _____.

A

escheat

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26
Q

true/false: Deeds must be signed by the grantor and grantee.

A

false - only the grantor

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27
Q

Transferring or conveying title to another is called ________, and is accomplished with a document called a _____.

A

alienation of title

deed

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28
Q

Title does not transfer until a deed is _____ and _____.

A

delivered and accepted

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29
Q

a valid deed must meet the following requirements:

  • be in writing
  • name the parties
  • give the ______ of the property
  • specify the _____ being conveyed
  • include consideration
  • be signed by a competent grantor and 2 witnesses
A

legal description

legal rights

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30
Q

A deed _____ need to be acknowledged in order to be valid.

A

does not

31
Q

A deed _____ need to be acknowledged in order to be recorded.

A

does

32
Q

The only legally necessary clause (promise) in a deed. It contains the names of the parties, conveyance, consideration, date of transfer, and legal description.

A

Premises clause

33
Q

The clause (promise) in a deed which specifies the legal rights being transferred or conveyed.

A

Habendum clause

34
Q

The clause in a deed which reserves a right in the title, not in land, such as a remainder estate.

A

Reddendum clause

35
Q

The warrant (guarantee) in a deed which is a claim of ownership by the grantor. Assures that the grantee owns and can convey the property.

A

Warrant of seizin

36
Q

The warrant (guarantee) in a deed that assures there are no additional encumbrances against the title except for what’s disclosed in the deed.

A

Warrant against encumbrances

37
Q

The warrant (guarantee) in a greed that ensures a grantee will not suffer hostile claims against the ownership of the property.

A

Warrant of quiet enjoyment

38
Q

The warrant (guarantee) in a deed that assures the grantee will enjoy possession and uninterrupted use of the property.

A

Warranty forever

39
Q

The warrant (guarantee) in a deed that is a promise by the grantor to take whatever action is necessary to protect and defend the title now and in the future.

A

Warrant of further assurances

40
Q

A general warranty deed includes ______ of the clauses.

A

all

41
Q

A grantor who is _____ would be unable or unwilling to fulfill the promises that they made.

A

insolvent

42
Q

The differences in the types of deeds is in the ______ that the grantor is willing to make to the grantee.

A

promises/warrants

43
Q

A _____ deed contains no warrants of any kind, and is generally used to cure defects of title.

A

quitclaim deed

44
Q

A ________ deed contains only one warrant, the warrant of seizin. No promises are made the defend the title later.

A

bargain and sale deed

45
Q

A _____ deed offers protection to the grantee only for claims made by the grantor or others representing him (while the grantor owned the property).

A

special warranty deed

46
Q

A ______ deed is the most comprehensive and offers the most protection to the grantee. Has the most warrants.

A

general warranty deed / warranty deed

47
Q

A _____ deed is used to convey property of a minor.

A

guardian’s deed

48
Q

A ______ deed is used to convey property of a mentally incompetent person.

A

committee’s deed

49
Q

A ______ deed is used by a developer to convey land from themselves to a condo association.

A

master deed

50
Q

A ______ deed is a form of general warranty deed used to convey ownership of a condo.

A

unit deed

51
Q

A _________ is used to show ownership in the event of foreclosure.

A

certificate of title

52
Q

The four governmental limitations on property ownership are (PETE):

  1. ______
  2. ______
  3. ______
  4. ______
A

Police power (building codes and zoning)
Eminent domain
Taxation
Escheat

53
Q

_____ such as limitations on height, color, architecture, fences, etc. are a type of private limitations on property ownership.

A

Deed restrictions

54
Q

A(n) ______ authorizes limited use of another’s property without pay.

A

easement

55
Q

An easement _____ runs with the land

A

appurtenant

56
Q

An easement that is needed because one parcel is landlocked within another.

A

Easement by necessity

57
Q

In an easement by necessity, the party that gave up the right is called the _____ estate, and the party which received the right is called the _____ estate.

A

serviant

dominant

58
Q

This type of easement does not run with the land and is used by utilitiy companies. It can be sold or released with a quitclaim deed.

A

Easement in gross

59
Q

This type of easement is created in Florida by 20 or more years of uninterrupted, continuous use.

A

Easement by prescription

60
Q

An _____ is an unauthorized physical intrusion onto property owned by another such as a fence.

A

encroachment

61
Q

A property with a defective title is said to have a _____ on ______.

A

cloud on title

62
Q

In a _______, a court renders a decision any resolves any dispute, curing the defect in title.

A

suit to quiet title

63
Q

According to the Marketable Record Title to Real Property Act (MARTA), title searches need only go back _____ years to establish a root of title in Florida.

A

30

64
Q

A _____ is a financial claim against a property. An encumbrance on the title.

A

lien

65
Q

The three superior liens are:

  1. _____
  2. _____
  3. _____
A

Real estate taxes lien (specific)
Special assessments (specific)
Federal estate taxes (general)

66
Q

A ______ lien is one that a contractor or builder is entitled to if they have not been paid for labor or materials used to improve the property.

A

mechanic’s lien (specific)

67
Q

A seller who finances their property through a purchase money mortgage is entitled to a ______ lien.

A

vendor’s lien (specific)

68
Q

A _____ lien can be placed against a property of an individual for nonpayment of income taxes.

A

federal income tax lien (general)

69
Q

A ______ is a notice of a pending lawsuit against a property owner that might affect title.

A

lis pendens

70
Q

A broker ______ attempt to collect unpaid commission by filing a lien on residential property.

A

can not

71
Q

Brokers ______ presumed to have a lien for collection and payment of commission of commercial property.

A

are

72
Q

Foreclosure is ______ of a lien.

A

enforcement

73
Q

______ terminates the rights of an owner and results in the public sale of a property.

A

Foreclosure

74
Q

Junior liens take precedence in a foreclosure ______ superior liens and in order of _____ .

A

after

date of recording

A1 Florida Real Estate Sales Associate License (20 decks)

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