REVIEW TITLES

Question 1

Since the Statute of Frauds in England in 11677, The transfer of ownership of real property has been shown through the use of

Answer 1

Written deeds

Question 2

The presumption that anyone interested in acquiring a parcel of property will inspect the property and check the public records is part of

Answer 2

CONSTRUCTIVE NOTICE

Question 3

Records on property ownership are usually maintained at the COUNTY OR CITY LEVEL OF GOV. - NEVER AT THE STATE LEVEL

Answer 3

** THE PURPOSE OF RECORDING DEEDS IS TO GIVE CONSTRUCTIVE NOTICE

Question 4

The system of registered land titles that established title in ONE document is the TORRENS SYSTEM - USED IN ONLY A FEW STATES

Answer 4

FIRST STEP in establishing a Torrens Land Title is to file for a quiet title action

Question 5

The status and condition of a title under the Torrens System is determined by THE COURTS.

Answer 5

THE NAMES ON THE TORRENS TITLE CERTIFICATE INCLUDE THE CURRENT OWNER ONLY

Question 6

2 MOST COMMON TYPES OF TITLE INSURANCE POLICIES ARE

Answer 6

1. OWNER

2. MORTGAGEE TITLE

Question 7

THE TYPE OF TITLE INSURANCE WHOSE COVERAGE DECREASES

Answer 7

AS THE MORTGAGE IS PAID DOWN IS CALLED MORTGAGEE’S TITLE INSURANCE

Question 8

MOST TITLE INSURANCE POLICIES WHICH ARE ISSUED COVER LOSSES TO THE

Answer 8

MORTGAGE COMPANY

Question 9

THE owners’ title insurance policy remains in effect only as long as the ______ has an interest in the property

Answer 9

Owners or his heirs