quiz 5

Question 1

A mechanics lien claim arises when a general contractor has performed work or provided material to improve a parcel of real estate on the owners, and the owner has not paid for it. Such contractor has the right to?

Answer 1

Record a mechanics lien and file a court suit within the time required by state law.

Question 2

Any interest in, or right to, land by third persons, adversely affecting the value of the property, is an?

Answer 2

Encumbrance.

Question 3

Under the abstract method of assurance of the title, the?

Answer 3

Attorney determines whether any liens which have been ratified.

Question 4

An acquired legal privilege or right of use or enjoyment, falling short of actual ownership, which a party may have in the land of another is?

Answer 4

An easement

Question 5

Happy Beyer is in the process of purchasing a new home. To protect its interest Ms. Beyers mortgage decided to take out title insurance. The title insurance policy?

Answer 5

Indemnifies the holder against some, but not all, of the possible defects in the title.

Question 6

A title search done by an attorney will?

Answer 6

Generally locate defects in the title.

Question 7

What is the difference between a general which transfer or encumber a parcel of real property will do all the following except?

Answer 7

Give actual notice of the instruments to third parties who may be affected by the related transactions.

Question 8

What is the difference between a general and a specific lien?

Answer 8

A general lien is a lien against all of the debtors property, while a specific lien covers only a certain piece of property.

Question 9

When the title search indicates a clear title?

Answer 9

The buyer still cannot be absolutely certain that the title is good.

Question 10

A collection of all recorded instruments, chronological arranged, affecting title to real property is an?

Answer 10

Abstract of title

Question 11

Should land owners develop their land without first obtaining building permits, they could be?

Answer 11

Forced to tear down the building.

Question 12

Which statement about building codes is true?

Answer 12

They establish minimum standards in design, structural systems, and construction materials.

Question 13

Should a person erect an improvement on the land of another by mistake in a good faith, the owner of the land on which the encroachment has occurred?

Answer 13

May cause the improvement to be removed and collect for any damage to the property caused by the removal

Question 14

Even though an area is zoned for single-family dwelling units only, some commercial use may be permitted if?

Answer 14

The commercial use was a per-existing non-conforming use. A variance is authorized by the zoning board for a new non conforming use.

Question 15

In the states such as Oklahoma which practice “ lien theory” in mortgages, title to the real property which is mortgaged is in the name of?

Answer 15

Mortgage.

Question 16

The ability of the state to enact and enforce zoning ordinances stems from its?

Answer 16

Police powers.

Question 17

Queen, owner of a 40-lot tract of land, conveys each lot with a restrictive covenant requiring the owner to use the land for residential purposes. One of her grantees, Prince, later sells his lot to Duke, who wants to build a gas station. Which of the following is true?

Answer 17

Duke will be bound by the restrictive covenants in Princes deed.

Question 18

The recording system was established to?

Answer 18

Preserve instruments of the title and give evidence of voluntary execution. Give public notice of change or ownership or the existence of liens thereon.

Question 19

The abstract?

Answer 19

Will do none of the above.

Question 20

A “chain of title” is an?

Answer 20

Record of a property grantors and grantees.

Question 21

The illegal, wrongful extenuation of a structure or improvement party or wholly, on the property of another?

Answer 21

Encroachment.`

Question 22

Restrictions placed on property by subdividers which limit a landowners ability to exercise absolute control of the condition and use of the property are

Answer 22

Deed restrictions.

Question 23

The priority of a mechanics lien over such liens as mortgages and non other tax liens is determined by the date of?

Answer 23

Work of improvement commences.

Question 24

The cost of title insurance is?

Answer 24

Paid only at the time of issuance of the policy.

Question 25

Public notice that an action law is pending that may affect the title to specific land or other property is known as?

Answer 25

Lis pendent.