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California Real Estate Principles > Encumbrances & Transfers Of Ownership > Flashcards

Encumbrances & Transfers Of Ownership Flashcards

0
Q

Permission to use a property which may be revoked at any time.

A

License

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1
Q

An easement that is not appurtenant to anyone parcel.

A

Easement in gross

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2
Q

The unauthorized placement of permanent improvements that intrude on adjacent property owned by another.

A

Encroachment

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3
Q

Status provided to a homeowners principal residence that protects the home against judgments up to specified amounts

A

Homestead

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4
Q

A gift of personal property by will

A

Bequest

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5
Q

Dying without leaving a will.

A

Intestate

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6
Q

Process by which there is an addition or reduction to property by the efforts natural forces.

A

Accession

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7
Q

Gradual build of alluvium by natural causes on property bordering a river, lake or ocean.

A

Accretion

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8
Q

Occurs when land that has been covered by water is exposed by receding of the water.

A

Reliction

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9
Q

The act of transferring ownership, title, or interest.

A

Alienate

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10
Q

The person receiving the property, or to whom it is being conveyed.

A

Grantee

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11
Q

The person conveying or transferring the property.

A

Grantor

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12
Q

A document in real estate.

A

Instrument

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13
Q

It is a court proceeding to clear a cloud on the title of real property.

A

Quiet title action

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14
Q

Notice that indicates pending litigation affecting title on a property.

A

Lis Penden

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15
Q

Which of the following is the best definition of encumbrance?

a. The degree, quantity, and extent of interest a person has in real property.
b. Anything that affects or limits the fee simple title to or value of property.
c. The use of property as security for a debt.
d. Any action regarding property, other than acquiring or transferring title.

A

b. Anything that affects or limits the fee simple title to or value of property.

This is the DRE’s definition of an encumbrance.

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16
Q

The form of encumbrance that makes specific property the security for the payment
of a debt or discharge of an obligation is called a:
a. reservation.
b. fief.
c. lien.
d. quitclaim.

A

c. lien.

A lien creates an obligation on a specific property.

17
Q

A recorded abstract of judgment is classified as a(n)__________lien.

a. equitable
b. involuntary
c. inferior
d. superior

A

b. involuntary

A recorded abstract of judgment creates an involuntary general lien on all real
property of the debtor that is located in the county where the judgment was
recorded.

18
Q

Recording a lis pendens:

a. does not affect the title.
b. clouds the title but does not affect marketability.
c. clouds the title and affects marketability.
d. affects the current owner but not a subsequent owner.

A

c. clouds the title and affects marketability.

Recording a lis pendens creates a cloud on title and warns parties that they could be involved in a lawsuit if the purchase the property, which could affect marketability.

19
Q

The owner of an apartment building does not declare the income from the rental units. The IRS filed a government tax lien, which would be a:

a. voluntary lien.
b. general lien.
c. judgment lien.
d. none of the above

A

b. general lien.

Income tax liens, court judgments, and California Franchise Tax liens are general liens and affect all of the property of the owner in the county where recorded.

20
Q

The personal, revocable, unassignable permission to use the property of another without a possessory interest in it is called a:

a. license.
b. easement.
c. encroachment.
d. option.

A

a. license.

The statement of the question is a good definition of a license.

21
Q

Roger, who owns a ranch, gave Sam who owns no property, a non-revocable right to cross his ranch to fish in the stream. Sam has an:

a. easement in gross.
b. license.
c. easement appurtenant.
d. easement by prescription.

A

a. easement in gross.

An easement in gross is a personal easement that is not attached to the land, and cannot be revoked. Sam does not have a license because the right is irrevocable. It is not an easement appurtenant because Sam owns no land and it is not an easement by prescription because Roger gave the easement in gross to Sam.

22
Q

Private restrictions on land can be created by deed:

a. only.
b. or written agreement.
c. or zoning ordinance.
d. or written agreement or zoning ordinance.

A

b. or written agreement.

Zoning ordinances are public, not private restrictions. Private restrictions can be created by CC&Rs, deeds, leases, and other written agreements.

23
Q

Alienation of title to real property most nearly means to:

a. cloud the title.
b. encumber the title.
c. record a homestead.
d. convey or transfer title and possession.

A

d. convey or transfer title and possession.

The terms alienation, convey, and transfer are used interchangeably when transferring ownership of property from one person to another.

24
Q

To be binding on a buyer and a seller, a deed to transfer real property must be:

a. recorded.
b. delivered and accepted.
c. acknowledged.
d. all of the above.

A

b. delivered and accepted.

Delivery and acceptance are required elements of a valid deed. The deed does not have to be acknowledged or recorded.

25
Q

A grant deed is considered executed when it is:

a. recorded by the grantee.
b. signed by the grantor.
c. acknowledged by the grantee.
d. delivered by the grantor.

A

b. signed by the grantor.

One of the requirements for a valid deed is that the deed must be executed (signed) by the grantor

26
Q

Effective delivery of a deed depends on:

a. the intention of the grantor.
b. recording the deed.
c. knowledge of its existence by the grantee.
d. acknowledgement of the grantor’s signature before a Notary Public.

A

a. the intention of the grantor.

The grantor must have the intention, during his or her lifetime, that the deed is delivered and title is transferred.

27
Q

Dana sold a property to Kim, who did not record the deed but did occupy the premises. Dana then sold the same property to Lee, who did not inspect the property but did record the deed. After the second sale, who would have legal title to the property?

a. The title would revert to Dana as the remainderman.
b. The title would remain with Kim.
c. The title would be Lee’s due to Kim’s failure to record his deed.
d. Lee would be able to sue Kim for his failure to record his deed.

A

b. The title would remain with Kim.

Possession is considered constructive notice, just like recording. If a deed is not recorded, but the buyer moves in, that sale has priority over any later recorded deeds.

28
Q

An owner of a parcel of real property gave his neighbor a deed conveying an easement for ingress and egress. The easement was not specifically located in the deed. Under the circumstances, the neighbor’s right to use the easement is:

a. enforceable because the location of the easement does not need to be specified.
b. enforceable only if the easement is an easement in gross.
c. unenforceable because the location of the easement must be specified.
d. unenforceable because easements are never created by deed, only by written agreement.

A

a. enforceable because the location of the easement does not need to be specified.

Ingress and egress mean to enter and to exit. An easement may be created by deed or written agreement, which is express grant. An unlocated easement is valid.

29
Q

Which of the following actions is a quiet title action?

a. Court action to foreclose
b. Court action in ejectment
c. Police action to quiet a noisy neighbor
d. Court action to remove a cloud on title

A

d. Court action to remove a cloud on title

A lawsuit to establish or settle title to real property is called a quiet title action or an action to quiet title.

30
Q 
A forced sale of property in order to satisfy a judgment for money or foreclosure of a mortgage is a(n):
A. sheriff’s sale.
B. estate sale.
C. trustee’s sale.
D. execution sale.
A

D. execution sale

An execution sale is a forced sale of property under a writ of execution with the proceeds used to satisfy a money judgment.

31
Q

A court action to divide a property held by co-owners is called:

A. A lis pendens.
B. partition action.
C. writ of execution.
D. an abstract of title.

A

B. partition action.

Partition action is a court proceeding to settle a dispute between co-owners (joint tenants or tenants in common) about dividing their interests in real property.

32
Q

Real property can be transferred by _____ grant, which is the transfer of title by the government to a private individual.

A. private
B. public
C. government
D. title

A

B. public

Real property can be transferred by public grant, which is the transfer of title by the government to a private individual.

33
Q

All of the following are non-financial encumbrances, except:

A. an encroachment.
B. a lien.
C. a building restriction.
D. an easement.

A

B. a lien.

Encumbrances fall into two categories: those that affect the title, known as financial encumbrances, and those that affect the use of the property, known as non-financial encumbrances. Common types of financial encumbrances are trust deeds and mortgages, mechanic’s liens, tax liens, special assessments, attachments, and recorded abstracts of judgment.

34
Q

How is constructive notice given?

A. By a builder
B. By recordation or possession
C. By acknowledgement
D. By restriction

A

B. By recordation or possession

After a deed has been acknowledged by the grantor, it may be filed with the county recorder, giving constructive notice of the sale.

35
Q

An encumbrance is an interest in real property that is held by someone who is not the _____.

A. tenant
B. owner
C. real estate salesperson
D. real estate broker

A

B. owner

An encumbrance is a non-possessory interest in real property that is held by someone who is not the owner. Anything that burdens or affects the title or the use of the property is an encumbrance.

36
Q

When someone dies, without leaving a will, he or she is known to have died:

A. in probate.
B. intestate.
C. testate.
D. by eminent domain

A

B. intestate.

If a person died intestate it means the person did not leave a will.

37
Q

The difference between an easement and a license to use property is:

A. consideration is paid for a license.
B. consideration is paid for an easement.
C. an easement conveys ownership.
D. a license may be canceled.

A

D. a license may be canceled.

A license is permission to use property. However, a license to use may be revoked at any time.

38
Q

What is created when a garage, driveway, or fence extends beyond the land of its owner and covers the land of an adjoining property?

A. An encumbrance
B. Condition precedent
C. An encroachment
D. A community property

A

C. An encroachment

Placing a permanent improvement, such as a fence, wall, driveway or roof, so that it extends over the lot line into adjacent property owned by another, is known as an encroachment.

39
Q

A(n) _____ is a court order forcing a person to do or not to do an act, such as violating a private restriction.

A. injunction
B. covenant
C. condition
D. junction

A

A. injunction

An injunction is a court order forcing a person to do or not do an act, such as violating a private restriction.

California Real Estate Principles (8 decks)

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