Estates, transfers, and titles

Question 1

If the covenant of seisin is broken:

Answer 1

The grantee, the buyer, may recover damages from the seller for up to the full price of the property.

Question 2

Corporations can convey real estate only by:

Answer 2

The authority granted in the corporate bylaws

Resolution of the corporation’s board of directors.

Question 3

Documents properly recorded in proper location is specifically referred to as ___ of a particular individual’s rights or interests in the property

Answer 3

constructive notice

Question 4

Issues, such as constructive notice, that draws a conclusion that a person has received an effective notice whether they actually have or not, is called a __?

Answer 4

Legal fiction

Question 5

A marketable title is a property title that is:

Answer 5

Considered free from defect and therefor the possibility of litigation is eliminated.

Question 6

Items, such as inheritance taxes, are not recorded with the county clerk, even though they are considered to be ___, as well.

Answer 6

Liens

Question 7

The best way to avoid a quiet title action when purchasing a property is:

Answer 7

To rely on a title company to do a title search to confirm a property’s legal owner and check for claims against the property.

Question 8

A __ requires that a seller swear under oath that no easements have been granted on the property and that no material change exists in the structures, fences, structures on adjoining properties, conveyances, or replats.

Answer 8

T-47 affidavit

Question 9

The following are all freehold estates, except:

Answer 9

A leasehold.

A freehold estate in land is one that involves the right of ownership. Freehold estates are those of indeterminable length, that list for a lifetime or forever.