LAW CHP7 Flashcards
The deed that offers the grantor the greatest protection against claims is the
a. fiduciary’s deed.
b. general warranty deed.
C. limited warranty deed.
d. quitclaim deed.
d. quitclaim deed.
The warranty that allows the grantee to seek recovery from the grantor on the basis of a secret lien is the covenant
a. against encumbrances.
b. of highest authority.
C. of quiet enjoyment.
d. of seizen.
a. against encumbrances.
If a grantor is 17 years old, the only type of deed presented at close would be a
a. deed of trust.
b. fiduciary’s deed.
c. general warranty deed.
d. nefarious deed.
b. fiduciary’s deed.
All are requirements for a valid deed EXCEPT
a. an acknowledgment before a notary public.
b. an adequate description of the property conveyed.
C. the signature of a competent grantee.
d. the signatures of a competent grantor.
C. the signature of a competent grantee.
Title to real estate generally passes from grantor to grantee with
a. delivery and acceptance of the deed.
b. the payment of the broker’s commission.
C. the recording of the deed.
d. Words of Conveyance.
a. delivery and acceptance of the deed.
When a grantee asks a real estate licensee for advice on how to hold title to property, the agent should
a. advise an estate in common to allow the estate to be severed in case of trouble.
b. advise a survivorship interest to avoid probate.
c. advise a tenancy at will, which can be terminated by any of the parties without notice.
d. not offer advice of this kind because it involves the practice of law.
d. not offer advice of this kind because it involves the practice of law.
How many persons may share ownership in severalty?
a. one
b. two, as long as they are married to each other
c. two or more persons, as long as there is unity of title
d. any number, regardless of unity of title
a. one
Who should prepare the deed?
a. buyer’s attorney
b. buyer’s broker
C. escrow agency
d. listing broker
a. buyer’s attorney
Tenancies by the entireties
a. are illegal in Ohio.
b. automatically confer dower rights.
C. cannot exist in common law marriage.
d. may be formed by two consenting adults.
b. automatically confer dower rights.
Title to real estate CANNOT pass from grantor to grantee without
a. an attorney’s letter of opinion.
b. a policy of title insurance for the bank.
c. present donative intent of the grantor.
d. recording the deed.
c. present donative intent of the grantor.
Company X is a general partnership. Partnership funds were used to purchase a building for the company’s offices. The building is partnership property
a. as long as the partners are not married.
b. even though the title is in one partner’s name alone.
c. only if the title is in the partnership’s name.
d. only if the title lists all partners and expressly states they are tenants in partnership.
b. even though the title is in one partner’s name alone.
In most cases, which statement about condominiums is FALSE?
a. A blanket mortgage covers the entire condominium property.
b. Each unit owner has an undivided interest in the common areas.
C. Property taxes are assessed separately for each unit.
d. The unit owners association can levy assessments to pay for maintenance of the common areas.
a. A blanket mortgage covers the entire condominium property.
