Marketable Title Quiz

Question 1

Failure to include a time is of the essence clause in the purchase agreement means that seller has a reasonable time post-closing to deliver marketable title. True or False

Answer 1

True

Question 2

A private restriction can be agreed to in a purchase agreement, but it will not make title marketable again. True or False.

Answer 2

False

Question 3

The mere existence of private restrictions makes title to property unmarketable. True or False.

Answer 3

True

Question 4

If you agree to the existence of a private restriction, it will still be marketable even if the restriction is violated. True or False.

Answer 4

False

Question 5

Seller must always disclose if the house is haunted. True or False.

Answer 5

False.