Property Description and Titles Review

Question 1

A metes and bounds description of land may be based upon:

monuments or permanent reference markers.

Answer 1

Both; Monuments And Permanent Reference markers.

Question 2

** in a recorded plat description, which of the following lists is arranged from largest to smallest?

Answer 2

SUBDIVISION, BLOCK, AND LOT

Question 3

Marketable title to real property is one which is free of:

Answer 3

REASONABLE DOUBT AS TO OWNERSHIP

Question 4

INSTRUMENTS such as deeds are recorded in order to provide

Answer 4

Constructive Notice ONLY

Question 5

Instruments affecting the title to real property are usually recorded at the City level or the state level?

Answer 5

Neither! It’s at the County Level!!

Question 6

Instruments affecting real property titles are recorded:

1. to give constructive notice or 2. because the law requires recordation

Answer 6

1. To give constructive notice. Recordation is a privilege allowed by the law and is NOT required by the law.

Question 7

A legal action by which the court determines the status of the title to a particular property is known as a :
1. Quiet title action
2. Torrens Title act
both?
neither?

Answer 7

1. Quiet title action

Question 8

The coverage provided under an owner’s title insurance policy:

1. is at least equal to the acquisition cost of the property;
2. may sometimes exceed the acquisition cost of the property ( do to appreciation of the property)

Answer 8

BOTH Is at least equal to the acquisition cost of the property AND may sometimes exceed the acquisition cost of the property

Question 9

An owner’s title insurance policy is terminated when the

Answer 9

Owner or heirs have no interest in the property

Question 10

The coverage provided under a mortgagee’s policy of title insurance:

1. begins at an amount equal to the mortgage
2. decreases as the loan is amortized
3. terminated when the loan is fully amortized.

Answer 10

ALL 3 ARE CORRECT!

Question 11

Premiums for a title insurance policy are paid

Answer 11

ONLY WHEN THE POLICY IS ISSUED

Question 12

WHICH of the following would require the payment of the Highest Premium?

1. An owner’s policy for $100,000
2. a Mortgagee’s policy for $100,000

Answer 12

1. the owners policy.

Because the amounts of coverage provided by the mortgagee’s policy is lower, it cost a little less.

Question 13

Which of the following statements is NOT correct?

1. A valid deed must be signed by the grantee
2. A grantee may be a minor
3. All valid deeds must be in writing
4. A valid deed must be signed by the grantor.

Answer 13

A valid deed must be signed by the grantee

Question 14

A Deed is a written instrument which transfers ownership interest in REAL PROPERTY

Answer 14

THE STATUTE OF FRAUDS requires that all deeds be in Writing.
Signed by the grantor. (the one conveying the real estate)
Grantee is the one receiving the real estate (does not need to sighn)

Question 15

The covenant by which the grantor warrants  that he is the owner of the property and has the right to sell it is known as the 
1. covenant of seizin
2. covenant of further assurance?
both?
Neither?

Answer 15

COVENANT OF SEIZIN

Question 16

BY means of the covenant against encumbrances, the grantor warrants that

Answer 16

All encumbrances are MENTIONED in the deed.

This covenant does not state that there are no encumbrances on the property

Question 17

The covenant which warrants that the grantee will enjoy the property free of the claims of others is the

Answer 17

Covenant of quiet enjoyment

Question 18

The grantor is obligated to perform any acts necessary to protect the title being conveyed by the covenant of

Answer 18

FURTHER ASSURANCE.

Question 19

• *The grantor must bear the expense of defending the title being conveyed against the claims of all others by the covenant of
  1. warranty of title
  2. warranty forever
  3. both
  4. neither one

Answer 19

both 1 and 2
Warranty of title
sometimes called
“warranty forever”

Question 20

Green was named executor of her late brother’s estate. In this capacity she had to sell some real estate to raise money to pay the estate taxes. She would most likely convey the property by means of a:

Answer 20

Special Warranty Deed

Question 21

By means of a bargain and sale deed, the grantor:

Answer 21

IMPLIES an interest in the property .

Question 22

In oder to convey title to real property, a deed must be 
1. delivered
2 accepted
both
neither of them

Answer 22

BOTH

DELIVERED AND ACCEPTED

Question 23

GREEN executed a deed to his farm, granting title to his oldest son. He did not deliver or record this deed or tell anyone of it’s existence. It was found among his papers when he died without a will. Was this a valid deed?

Answer 23

NO, it was not delivered during Green’s lifetime.

Question 24

Deed are acknowledged in order to 
1. make them admissible to record
2. give constructive notice
both are true
only one of them is tru.

Answer 24

Both are true.
TO MAKE THEM ADMISSIBLE TO RECORD.
AND
TO GIVE CONSTRUCTIVE NOTICE

Question 25

TRUE STATEMENTS: INHERITANCE DEALS WITH THE TRANSFER OF REAL PROPERTY TITLES AFTER THE DEATH OF THE GRANTOR. When a person dies and leaves a valid will, the death is said to be TESTATE. When a valid will is not left, the left, the death is said to be INTESTATE. a person who dies is called the DECEDENT

Answer 25

IF THE DECEDENT LEAVES A VALID WILL (DIES TESTATE) he is called the TESTATOR

Question 26

* * ED DIED with out leaving a will. all the following are true except. 1. ed died an interstate death 2. Escheat to the state occurs if o heirs exist. 3. Ed's heirs , if any will be distributees. 4. His estate is distributed under federal law

Answer 26

NUMBER 4 HI IS ESATATE UNDER FEDERAL LAW.

Question 27

SOMEONE MUST BE APPOINTED to administer the Estate of a decedent. If testate, the person is named by the decedent. If the death is testate, the person is: named by the decedent in the will called an Executor.

Answer 27

IF the death is Intestate, the person is appointed by the court called an Administrator

Question 28

a person who is appointed by the court to settle the estate o a decedent who died "intestate" (with out a will) is known as the

Answer 28

Administrator

Question 29

``` The personal representative of a deceased person may also be: 1. The executor of the state 2 the administrator of the estate both are true neither are true only one is true? ```

Answer 29

Both are true!

Question 30

``` Wrongful occupation of the property of another person may be a 1. Trespass 2. adverse possession either 1 or 2 neigher only one is true? ```

Answer 30

Either one: a Tresspass and/or Adverse Possession

Question 31

``` An adverse occupant's claim of title by adverse possession will be enhanced by the: 1. payment of taxes by the claimant 2 Possession of color title both neither only of of them? ```

Answer 31

Both are correct

Question 32

A claim of title by adverse possession may be forestalled by: 1. evicting the adverse occupant 2. giving the occupant permission to occupy the land. both of them neither of them only one of them

Answer 32

Both are correct: evicting the adverse occupant and/or giving the occupant permission to occupy the land.

Question 33

``` A property owner may sometimes acquire title to real property through: 1. accretion 2. reliction neither one both only one of them ```

Answer 33

Both

Question 34

``` Title to real property may be lost through 1. avulsion 2. erosion both neither only one ```

Answer 34

Both | Avulsion AND erosion

Question 35

Soil deposited by the process of accretion is known as

Answer 35

Alluvion