Real Estate Exam 1,009 Q&A #801-1000 Flashcards
1
Q
A trade name must be registed with the ________ ______ ___________ at the department of state.
A
Division of corporation
2
Q
Sales associates can be stockholder in a brokerage corporation but may not be _______ or _______.
A
Officers or directors.
3
Q
A real estate brokerage corporation must have atleast ___ active broker serving as an _______.
A
1, Officer
4
Q
Anyone licensed or not can be a ________ _______ in a real estate brokerage limited partnership.
A
Limited Partner
5
Q
Two or more brokers that share office space but not not maintain their sperate status as independent brokers could be charged as being a _____ ______.
A
Ostensible Partnership
6
Q
The party who holds title to corpation sole property is colled the _______ __________.
A
Sole Titleholder
7
Q
Sales associates and brokers associates must report any change of employer or address change to the DBPR with in _____ day on a form prescibed for such use.
A
10
8
Q
For a broker to legally be paid a kick back or rebate, he or she must have performed a _______, held an appropriate _________, and all parties must be ______ of the payement.
A
Service, License, Advised
9
Q
When a broker has conflicting demand for fund held in escrow, he or she must repost such conflict to the FREC within ____ days.
A
15
10
Q
A Broker who feels he or she is entitled to some or all of the escrowed funds that are the subject of a dispute may submit the dispute to the court by fiuling an action for ________ __________.
A
Declaration Decree.
11
Q
A broker who intermingles or commingles business or personal fun with escrowed funds has committed a form of fraud called _______.
A
commingling
12
Q
Licensees that fail to reveal something material to a buyers decision may be charged with ________.
A
concealment
13
Q
Brokerage firms that operate under a dictitious name are required to register the name with the ______ ______ _______ ______ ______ ________.
A
Department of business and profession regulation.
14
Q
Fraud can occur _______ or _________.
A
Accidently or Inadvertantly
15
Q
If rental information is sold to a prospective tenant, and the informaiton is found to be materially incorrect, the applicant may request a refund of ____, provided the request is made with _____ days of the date of the contract.
A
100%, 30 days
16
Q
Operating in a careless, reckless, excessively negligent manner may result in a broker being charged with ________ _________.
A
Culpable negligence
17
Q
A Licensee should advise a customer to obtain an __________, or an ______ ________ from an attorney when ever a question of title arises.
A
Abstract, Attorneys Tititle Opinion
18
Q
A sales associate licensd with a real estate brokerage corporation can be A. an officer B. A stockholder C. a Director. D. An office and a director
A
B. A stockholder
19
Q
Six individuals decide to form a real estate brokerage partnership. all six individuals are planning to be active in real estate sales. Which best applies?
A. The partnership must be registerd with the commission, and all six partners must be active real estate brokers.
B. At least one partner must be licensed as an active broker.
C. Only two partners must have a real estate license.
D. A partnership cannot be formed as a brokerage business.
A
A. The partnership must be registerd with the commission, and all six partners must be active real estate brokers.
20
Q
A broker associate licensed with a realm estate broker partnership
A. can be a member of the partnership
B. can make earnest money deposits
C. cannot manage the office
D. cannot supervise licensed sales associates.
A
B. Can make earnest money deposits.
21
Q
Which of the business forms listed below CANNOT register to conduct real estate transactions? A. corporation for profit B. corporation not for profit C. corporation sole D. limited partnership
A
C. corporation sole
22
Q
A sales associate is licensed under an owner-developer thagt owns several affiliated organizations. should the employer wish to have the sales associate provide real estate services for these various organizations, which type of license should the sales associate request? A. Multiple B. Group C. Corporate D. Branch Office
A
B. Group
23
Q
The idea that the original investment should grow without losing it.
A
conservation of capital
24
Q
if other people want to buy and sell it for themselves– your investment is _______.
A
liquid
25
lower rate of return
negative leverage
26
Four of the most important types of investment are investments in m_____, e______, d____, and r___ e____.
money, equity, debt, and real estate
27
Examples of ________ investments are: deposit accounts, certificates of deposit, money funds, and annuities.
money
28
Examples of _______ investments are bonds, notes, mortgages, and bond mutual funds.
debt
29
Examples of _______ investments are stocks and stock mutual funds.
equity
30
Examples of _____ _____ investments are non income & income properties
real estate
31
an agreement between two or more parties who, in a "meeting of the minds," have pledged to perform or refrain from performing some act.
contract
32
one that is legally enforceable by virtue of meeting certain requirements of contract law. If a contract does not meet the requirements, it is not valid and the parties to it cannot resort to a court of law to enforce its provisions.
valid contract
33
```
a court may construe the ______ ______ of a contract in one of four ways:
valid
valid but unenforceable
void
voidable
```
legal status
34
A ______ _______ that is in writing is enforceable within a statutory time period. A _________ ________ that is made orally is also generally enforceable within a statutory period.
valid contract
35
An oral long-term lease and an oral real estate sales
| contract are examples of contracts that may be _______ _____ __________.
Valid but unenforceable
36
an agreement that does not meet the tests for validity, and therefore is no contract at all. If a contract is ______, neither party can enforce it. Example: a contract that does not include consideration is _____ & a contract to extort money from a busine
Void
37
Void contracts and instruments are also described as "______ & _______."
null & void
38
a contract that initially appears to be valid, but is subject to rescission by a party to the contract who is deemed to have acted under some kind of disability. Only the party who claims the disability may rescind the legal effect of the contract. Ex: a party who was the victim of duress, coercion, or fraud in creation of a contract, and can prove it, may disaffirm the contract. (within a time frame.)
Voidable
39
A voidable contract differs from a void contract in that the lvoid contract does not require an act of ___________ to make it unenforceable.
disaffirmation
40
get out of
disaffirmation
41
Capacity to contract is determined by three factors:
l____ a___
m______ c________
l_______ a________
legal age, mental competency, legitimate authority
42
requires that a contract involve a clear and definite offer and an intentional, unqualified acceptance of the offerr; the parties must agree to the terms without equivocation. A court may nullify a contract where the acceptance of terms by either party was partial, accidental, or vague.
Mutual consent. (aka meeting of the minds or offer & acceptance)
43
A contract must contain a two-way exchange of _______ __________ as compensation for performance by the other party. The exchange of considerations must be two-way. The contract is not valid or enforceable if just one party provides _______ _________; can be money or something a party promises to do or not do.
Valuable consideration
44
love and affection,; can serve as a nominal consideration in transferring a real property interest as a gift.
Good consideration
45
The content, promise, or intent of a contract must be lawful. A contract that proposes an illegal act is _____.
void
46
The parties must create the contract in ______ _____ as a free and ________ act. A contract is thus ________ if one party acted under duress, coercion, fraud, or misrepresentation.
good faith; voluntary; voidable
47
If a property seller induces a buyer to purchase a house based on assurances that the roof is new, the buyer may _______ the agreement if the roof turns out to be twenty years old and leaky
rescind
48
a contract that conveys an interest in real estate must:
1 be in _______
2 contain a _______ description of the property
3 be _______ by one or more of the parties
writing; legal; signed
49
restricts the time period for which an injured party in a contract has the right to rescind or disaffirm the contract. A party to a voidable contract must act within the statutory period.
Statute of limitations
50
States that all contracts to buy, sell, exchange, or lease interests in real property must be in writing to be enforceable. With exception of leases that are less than one year.
Statute of frauds
51
The ______ ___ ______ concerns the enforceability of a contract, not its validity. Once the parties to a valid oral contract have executed and performed it, even if the contract was unenforceable, a party cannot use the _____ ____ _______ to rescind the contract. Example, a broker and a seller have an oral agreement. Following the terms of the agreement, the broker finds a buyer, and the seller pays the commission. They have now executed the contract, and the seller can not later force the broker to return the commission based on the______ ____ ________.
statute of frauds
52
The exact point at which the offer becomes a contract is when the offeree gives the offeror notice of the __________.
acceptance
53
If an offer contains an expiration date and the phrase "time is of the _______," the offer expires at exactly the time specified. In the absence of a stated time period, the offeree has "________" time to accept an offer.
essence; reasonable
54
If the communication of acceptance is by mail, the offer is considered to be communicated as soon as ___ ___ _______ __ ___ ______.
it is placed in the mail
55
An offer may be revoked, or withdrawn, at any time before the offeree has ________ ________. The _________ extinguishes the offer and the offeree's right to accept it.
communicated acceptance; revocation
56
```
Situaions that terminate an offer:
a_________
r_________
r_________
l_____ of t_____
c_________
d_____ or i______
```
acceptance, rejection, revocation, lapse of time, counteroffer, death or insanity
57
the offeree accepts the offer, converting it to a contract.
acceptance
58
the offeree rejects the offer
rejection
59
the offeror withdraws the offer before acceptance
revocation
60
the offer expires
lapse of time
61
the offeree changes the offer
counteroffer
62
Listing agreements are not __________, since they are personal service agreements between agent and principal. Sales contracts, however, are _________, because they involve the purchase of real property rather than a personal service.
assignable
63
oral
parol
64
contract in which all the terms and covenants of the agreement have been manifestly stated and agreed to by all parties, whether verbally or in writing.
express contract
65
an unstated or unintentional agreement that may be deemed to exist when the actions of any of the parties suggest the existence of an agreement.
implied contract
66
contract in which both parties promise to perform their respective parts of an agreement in exchange for performance by the other party. Example: an exclusive listing: the broker promises to exercise due diligence in the efforts to sell a property, and the seller promises to compensate the broker when and if the property sells.
bilateral contract
67
a contract in which only one party promises to do something, provided the other party does something. The latter party is not obligated to perform any act, but the promising party must fulfill the promise if the other party chooses to perform. Ex. contract with option period
unilateral contract
68
contract that has been fully performed and fulfilled: neither party bears any further obligation. A completed and expired lease contract is an executed contract: the landlord may re-possess the premises and the tenant has no further obligation to pay rent.
executed contract
69
a contract in which performance is yet to be completed. A sales contract prior to closing is executory: while the parties have agreed to buy and sell, the buyer has yet to pay the seller and the seller has yet to deed the property to the buyer.
executory contract
70
the substitution of a new contract for an existing one; the new contract must reference the first and indicate that the first is being replaced and no longer has any force and effect.
novation
71
the act of nullifying a contract.
rescission
72
cancellation of the contract by one party without the consent of the other. For example, a seller may revoke a listing to take the property off the market.
revocation
73
occurs when parties fail to perform contract obligations. This situation may allow the parties to cancel the contract.
Abandonment
74
failure to perform according to the terms of the agreement; gives the damaged party the right to take legal action
breach of contract (aka default)
75
```
legal remedies for breach of contract:
r________
f________
s____ for d_______
s_____ for s______ p________
```
rescission, forfeiture, suit for damages, suit for specific performance
76
This cancels the contract and returns the parties to their pre-contract condition, including the refunding of any monies already transferred.
rescission
77
this requires the breaching party to give up something, according to the terms of the contract. For example, a buyer who defaults on a sales contract may have to forfeit the earnest money deposit.
forfeiture
78
the total amount stated in a contract that is due to a damaged party in the even of a breach of contract.
liquidated damages
79
the unspecified amount of money a damaged part may sue for in the event of a breach of contract.
unliquidated damages.
80
an attempt to force the defaulting party to comply with the terms of the contract; occurs when it is difficult to identify damages because of the unique circumstances of the real property in question.
suit for specific performance
81
someone who possesses all ownership interests owns ______ _______ to the property.
legal title (aka title)
82
the interest or right to obtain legal title to a property in accordance with a sale or mortgage contract between the legal owner and a buyer or creditor.
equitable title
83
During the contractual period of time when ownership of legal title is contingent upon the contract, the buyer or lender owns _______ title to the property.
equitable
84
Transfer of title to real estate
alienation
85
transfer of real estate using a written instrument
conveyance
86
Execution of a valid deed in itself does not convey title. It is necessary for the deed to be ________ to and ________ by the grantee for title to pass.
delivered; accepted
87
Recording is _____ necessary to make a deed valid. However, it is in the grantee's best interests to do so. Recording the deed gives the public ________ notice of the grantee's ownership.
not; constructive
88
conveyance clause - the only required clause; contains the conveyance intentions; names the parties; describes the property; indicates nominal consideration.
Granting clause (or premises clause)
89
conveyance clause - describes the type of estate being conveyed (fee simple, life, etc.)
Habendum clause
90
conveyance clause - recites restrictions and limitations to the estate being conveyed, e.g., deed restrictions, liens, easements, encroachments, etc.
Reddendum clause (or reserving clause)
91
conveyance clause - identifies property being conveyed in addition to land
Tenendum clause
92
clauses present the grantor's assurances to the grantee. A deed of conveyance usually contains one or more of these covenants, depending on the type of deed.
Covenant (or warrant) clauses.
93
warrant clause that assures that the grantor owns the estate to be conveyed, and has the right to do so
seizen
94
assures that the grantee will not be disturbed by third party title disputes
quiet enjoyment
95
assures that the grantor will assist in clearing any title problems discovered later
further assurance
96
assures that the grantee will receive good title, and that grantor will assist in defending any claims to the contrary
forever (warranty of title)
97
assures that there are no encumbrances on the property except those expressly named
encumbrances
98
states the assurance of a trustee, acting as grantor on behalf of thestates the assurance of a trustee,
against grantor's acts
99
special purpose deed used by an executor to convey a decedent's estate; also called an executor's deed
Personal representative's deed
100
special purpose deed used by a court-appointed guardian to transfer property of minors or mentally incompetent persons
Guardian's deed
101
special purpose deed used to convey foreclosed property sold at public auction
sheriff's deed
102
special purpose deed used to convey property to a third party trustee as collateral for a loan
Deed of trust
103
special purpose deed used on satisfaction of the loan terms, the trustee uses this type of deed to convey the property back to the borrower
reconveyance deed
104
special purpose deed used to convey property to the trustee of a land trust.
Deed in trust
105
special purpose deed used to convey land to a condominium developer; accompanied by the condominium declaration when recorded
master deed
106
special purpose deed used to convey co-owned property in compliance with a court order resulting from a partition suit
partition deed
107
special purpose deed used to transfer government property to private parties
patent deed
108
special purpose deed used to convey property sold at a tax sale
tax deed
109
tax required on all deeds or other documents ussed as conveyances. The charge is based on the face value of the note.
documentary stamp tax
110
A will takes effect only after the testator's death. It is an ________ instrument, meaning that it can be changed at any time during the maker's lifetime.
amendatory
111
will in the testator's handwriting, dated and signed
Holographic
112
will on pre-printed forms meeting the requirements of state law
approved
113
will made orally, and written down by a witness; generally not valid for the transfer of real property
nuncupative
114
state laws that stipulate who inherits and what share they receive, without regard to the desires of the heirs or the intentions of the deceased.
descent and distribution (or succession)
115
title free of undesirable encumbrances.
marketable title
116
an ownership interest for an indefinite period of time
freehold estate
117
an interest in real property that is measured in calendar time
leasehold estate (or nonfreehold)
118
Both leasehold and freehold estates are referred to as _______
tenancies
119
freehold tenant
freehold tenant
120
renter or lessee
leasehold tenant
121
the highest form of ownership interest one can acquire in real estate. It includes the complete bundle of rights, and the tenancy is unlimited, with certain exceptions indicated below.
fee simple freehold
122
owner of the fee simple interest
fee tenant
123
a perpetual estate that is not conditioned by stipulated or restricted uses. It may also be freely passed on to heirs.
Fee Simple Absolute Estate
124
perpetual, provided the usageconforms to stated conditions. Essential characteristics are :the property must be used for a certain purpose or under certain conditions if the use changes or if prohibited conditions are present,the estate reverts to the previous grantor of the estate
Fee Simple Defeasible Estate
125
a type of fee simple defeasible estate that states usage limitations. If the restrictions are violated, the estate automatically reverts to the grantor or heirs.
Determinable
126
a type of fee simple deafeasible estate in which If any condition is violated, the previous owner may repossess the property. reversion of the estate is not automatic: the rantor must re-take physical possession within a certain time frame
Condition subsequent
127
a freehold estate that is limited in duration to the life of the owner or other named person. Upon the death of the owner or other named individual, the estate passes to the original owner or another named party
life estate
128
the holder of a life estate
life tenant
129
third party to receive title to the property upon termination of the life estate, the party enjoys a future interest called a remainder interest or a remainder estate.
Remainderman
130
the portion of the net proceeds from the sale of the property that represents the return of the investor's capital.
reversion
131
by grant from a fee simple property owner to the grantee, the life tenant. Following the termination of the estate, rights pass to a remainderman or revert to the previous owner.
conventional life estate
132
an ordinary life estate ends with the death of the life estate owner and may pass back to the original owners or their heirs (reversion) or to a named third party (remainder).For example, John King grants a life estate in a property to Mary Brown, to endureover Mary's lifetime. John establishes that when Mary dies, the property will revert to himself.
Ordinary life estate
133
life estate endures over the lifetime of a thirdperson, after which the property passes from the tenant holder to the original grantor (reversion) or a third party (remainderman) For example, Yvonne grants a life estate to Ryan, to endure over the lifetime of Yvonne's husband Steve. Upon Steve's death, Yvonne establishes that her mother, Rose, will receive the property
Pur autre vie
134
created by state law as opposed to being created by a property owner's agreement. Provisions vary from state to state. The focus of this type of estate is defining and protecting the property rights of surviving family membersupon the death of the husband or wife
legal life estate
135
one's principal residence. The laws protect family members against losing their homes to general creditors attempting to collect on debts.
homestead
136
wife's life estate interest in the husband's property.
Dower
137
husband's life estate interest in the wife's property.
curtesy
138
To transfer property within dower and curtesy states, the husband (or wife) must obtain a release of the ______ interest from the other spouse in order to convey
dower
139
a state-level statute enabling a surviving spouse to make a minimum claim to the deceased spouse's real and personal property in place of the provisions for such property in the decedent's will. For example, if a husband's will excludes the wife from any property inheritance, the wife may, upon the husband's death make the _____ ______ claim.
Elective share
140
a leasehold estate for a definite period of time, with a beginning date and an ending date
estate for years
141
estate from period-to-period; this period automatically renews for an indefinite period of time, subject to timely payment of rent.
periodic tenancy
142
has no definite expiration date and hence no "renewal" cycle. The landlord and tenant agree that the tenancy will have no specified termination date, provided rent is paid on time and other lease conditions are met. For example, a son leases a house to his father and mother "forever," or until they want to move. terminated by proper notice, or by the death of either party.
tenancy at will (aka estate at will)
143
a tenant occupies the premises without consent of the landlord or other legal agreement with the landlord. Usually such an estate involves a tenant who fails to vacate at the expiration of the lease, continuing occupancy without any right to do so. For example, a tenant violates the provisions of a lease and is evicted. The tenant protests and refuses to leave despite the eviction order.
estate at sufferance
144
a transaction involving a cooperating subagent. Commission is typically split on a 50-50 basis.
co-brokerage
145
an organization of brokers who have agreed to cooperate with member brokers in marketing listings.
multiple listing service
146
critical brokerage skills:
1. o_______ a client listing
2. m_______ a listing
3. f_________ the closing of a transaction
4. m________ market information
obtaining, marketing, facilitating, managing
147
a fundamental part of maintaining market expertise is o_______ & m_______ an information system.
organizing & managing
148
Examples of a______ services:
1. providing an estimate of value
2. prfroming market analysis
3. managing property
advisory
149
business owned by a single individual.
sole proprietorship
150
a legal entity owned by stockholders.
corporation for profit
151
a corporation is ________ if it is headquartered in the state where the articles of incorporation were filed. Otherwise, the corporation is a _________ corporation.
domestic; foreign
152
a corporate entity which is not legally entitled to generate profit. This type of corporation may not broker real estate.
non-profit corporation
153
a for-profit business consisting of two or more co-owners who have agreed to share business profits.
general partnership
154
consists of general partners and limited partners.
limited partnership
155
a partnership formed to complete a specific business endeavor, such as real estate development.
joint venture
156
a group of investors who invest in a pooled trust fund managed by their elected trustee. this type of trust may not broker real estate, but it may buy and sell its own real estate assets.
business trust
157
a non-profit, tax-exempt alliance of individuals or compaines formed to promote common goods or services. this type of association may not broker real estate.
cooperative association
158
a brokerage that is not affiliated with a franchise.
Independent brokerage
159
an idependently-owned company that enters into a licensing arrangement with a franchisor to participate in various benefits offered in exchange for compensation.
franchised brokerage
160
the act of mixing the broker's personal or business funds with escrow funds.
commingling
161
the act of misappropriating escrow funds for the broker's business or personal use. considered an act of theft.
conversion
162
This act was enacted in 1890 and it prohibits resraint of interstate and foreign trady by consiracy, monopolistic pratice, and certai forms of business combinatins or mergers; it empowers the federal government to proceed against antitrus violators.
Sherman Antitrust Act
163
This act was enacted in 1914, and it reinforces and broadens the provisions of the Sherman Act. Among its prohibitions are certain exclusive contracts, predatory price cutting to eliminate competitors, and inter-related boards of directors and stock holdings between same-industry corporations
Clayton Antitrust Act
164
the illegal practice of two or more businesses joining forces or makng joint decisions which have the effect of putting another business at a competitive disadvantage.
collusion
165
the pratice of two or more brokers agreeing to charge certain commission rates or fees for their services, regardless of market conditions or competitors.
price fixing
166
the practice of colluding to restrict competitive activity in portions of a market in exchange for a reciprocal restriction from a competitor. example "we won't compete against you here if you won't compete against us there."
market allocation
167
The most comprehensive interest in real property that an individual may possess is a(n) ______ _______ _______
fee simple estate
168
Physical components of real property include _______, ________, & ____ ______.
surface; subsurface; air rights
169
________ are items that are fixed, or attached to real property; were once personal property but are now real property; have been incorporated as a part of real property.
fixtures
170
Frank & Lucille decide to get a divorce. In addition to their Florida homesteaded property, they own a vacant lot in the same subdivision acquired in both of their names during the marriage. How will the lot be distributed? The lot is a ______ ____ & will be distributed _______.
marital asset; equitably
171
The bundle of right of real property include (DUPE) _________, ________, ___________, & ____________.
Disposition; use; possession; exclusion
172
Mary & John were recently wed. Mary owns a residential lot that was purchased before the marriage. The lot is considered to be ____________ ___________.
separate property
173
At the expiration of the lease period & before negotiation of the lease, a tenant continued to occupy the apartment. The tenant's position is called ______ __ ________.
tenancy at sufferance
174
Lucy received a new microwave for Christmas. The microwave was installed above her range by screwing the unit to the kitchen cabinets & venting it through the attic. The microwave would be considered ___________.
a fixture
175
The homestead tax exemption is deducted from the_______ _____ ___ _ ______.
assessed value of a property
176
A husband & wife own a home with title in both names. The husband owns two small farms in his name only, acquired before the marriage. They have one minor child & one adult son. The husband dies. What happens: The _______ owns all of the home & may claim ______ percent of the two farms.
widow; thirty
177
The real estate protected by homestead rights is limited to ______ acres outside of a city or town & ________ acre in town
160; 1/2
178
A constitutional homestead is owned by Ralph, who is head of the family consisting of himself, his wife, & their three children. Ralph dies unexpectedly. After his death, the widow owns a _____ _____ in the homestead, & the children are ________ _________.
life estate; vested remaindermen
179
Which estate features right of survivorship?
estate by the entireties
180
In Chapter 475 F.S., _______ ________is defined any interest or estate in land, busness enterprises & business opportunities, including any assignment, leasehold, subleasehold, or mineral rights.
real property
181
In Florida, cooperatives & time-share are regulated by the Division of Florida ____ ____, ______ & _____ ______. (LS, C, MH)
land sales; condominiums; mobile homes
182
A condo unit buyer has how long to cancel the purchase contract following the signing of an agreement with a developer?
3 business days
183
Developers of condominium projects must give buyers a copy of the ___________.
prospectus
184
Which type of easement gives an electric company the authority to install and maintain electric power lines?
Easement in gross
185
Title to real property legally transfers from grantor to grantee when the deed is voluntarily __________ and __________.
delivered; accepted.
186
Courts at various levels have ruled that constructive notice & actual notice have ________ legal priority
equal
187
A 92-year old man is being forced from his home because of a governmental taking. The home has been in his family for four generations. What recourse, if any, does he have? He may request a _________ ________ to protest the amount of ___________ being offered by the governmental body.
condemnation proceeding; compensation
188
For a deed to be valid, a competent ___________ & ______ witnesses must sign the instrument.
grantor; two
189
The type or form of deed most commonly used to clear clouds in the title of real property is the
quitclaim deed
190
If the sales contract does not specify the type of deed to be delivered, the seller is required to provide a
general warranty deed
191
The process of taking property under the power of eminent domain is called
condemnation
192
The type of deed in which the grantor does not warrant the title in any manner except against his or her acts or the acts of his or her representatives is called a
special warranty deed
193
The covenant against encumbrances in a deed is designed to guarantee that the __________ has not encumbered the property in any manner _______ as noted in the deed.
grantor; except
194
The purpose of recording a deed is to give ________ _______ of ownership
constructive notice
195
A valid instrument of conveyance of real property must be signed by a competent
grantor
196
The __________ ________ in a deed specifies that the grantor actually owns the property and has the right to sell it.
seizin clause
197
The deed that contains the covenant in which the grantor guarantees that he or she will forever be responsible for warranting title and will defend the title and possession is a __________ ________ _______
general warranty deed
198
The provision in a deed that names the parties and contains the granting clause is the _________.
premises
199
An owner placed a condition in the deed that stipulated that a commercial building could not be erected on the property until at least the year 2010. This is an example of a ________ _________.
deed restriction
200
Three examples of an encumbrance on title to real property an ___________, a______ _________, & a ________
easement; deed restriction; lien
