Section 9

Question 1

gained when a person holds the right to own property

Answer 1

equitable title

Question 2

the act of transferring an interest in real property from one person to another.

Answer 2

alienation

Question 3

transfers property with the owner’s control and consent through a deed or a
will.

Answer 3

voluntary alienation

Question 4

The person transferring title through a will is the

Answer 4

grantor of the deed

Question 5

The person transferring title through a will is the grantor of the deed. The person receiving title is

Answer 5

the grantee of the deed

Question 6

to die with a will in place

Answer 6

testate

Question 7

to die without a will in place

Answer 7

intestate

Question 8

A man who creates a will is called

Answer 8

testator

Question 9

A woman who creates a will is called a

Answer 9

testatrix

Question 10

To will real property is to

Answer 10

devise

Question 11

the person who inherits real property

Answer 11

devisee

Question 12

To will personal property is to

Answer 12

bequest

Question 13

the person who inherits personal property the

Answer 13

beneficiary

Question 14

transfers property without the owner’s control and consent through descent, escheat, eminent domain, and adverse possession

Answer 14

Involuntary alienation

Question 15

Without a will, the property is passed to

Answer 15

legal descendants

Question 16

When there are no known heirs to property, it is passed to the state by

Answer 16

escheat

Question 17

the legal process of the government to take property through the power of eminent domain.

Answer 17

condemnation

Question 18

when someone other than the owner takes control and ownership of a property by hostile means through physical occupation which is open and notorious for at least seven years while paying taxes.

Answer 18

Adverse possession

Question 19

When property transfer takes place, there are two types of legal notice that may be given:

Answer 19

Actual Notice

Constructive Notice

Question 20

Deeds do not have to be recorded to be valid. To be recorded, deeds must be

Answer 20

acknowledged by the grantor and notarized

Question 21

Lenders provide constructive notice of a foreclosure by filing a ___ _______ notice in the county where the property is located.

Answer 21

lis pendens

Question 22

the “linking” of one owner to another as the property has been transferred from one owner to another.

Answer 22

chain of title

Question 23

the written opinion of an attorney as to marketability based on chain of title

Answer 23

Title Opinion

Question 24

can be insured against with title insurance

Answer 24

Defects of title

Question 25

protects owners and heirs but is not transferred with a sale

Answer 25

Owner's Policy

Question 26

protects the lender and is transferable to new lenders if the mortgage is sold. Issued based on the mortgage and charged once at closing

Answer 26

Lender's Policy

Question 27

divided into the premises section, the operative part and the conclusion.

Answer 27

Deed

Question 28

The premises section of a deed has the

Answer 28

``` date names address consideration granting clause ```

Question 29

The operative section of a deed has the

Answer 29

``` habendum clause (deed restrictions, exceptions and reservations, appurtenances) ```

Question 30

the habendum clause includes

Answer 30

deed restrictions exceptions and reservations appurtenances

Question 31

deed is divided into 3 sections, including

Answer 31

premises section operative part conclusion

Question 32

The conclusion section of a deed has

Answer 32

the delivery and acceptance through the signature of the grantor and two witnesses.

Question 33

Valid deeds must:

Answer 33

``` be in writing name the grantor and grantee list consideration have a granting clause a habendum clause legal description signatures of the grantor and two witnesses delivery and acceptance ```

Question 34

A statutory deed has a format specifically defined by state statute and includes

Answer 34

General Warranty Deed Special Warranty Deed Bargain and Sale Deed Quitclaim Deed

Question 35

General warranty deeds include covenants of:

Answer 35

``` Seisin Against encumbrances Further assurance Quiet enjoyment Warranty Forever ```

Question 36

Only include the guarantee that the grantor (executor) has done nothing to encumber the property.

Answer 36

Special warranty deeds

Question 37

includes the covenant of Seisin as the bank owns the property through foreclosure but includes no other warranties

Answer 37

Bargain and sale deeds

Question 38

issued to clear a cloud on the title by releasing claims to the title. Has no covenants.

Answer 38

Quitclaim deeds

Question 39

Special Purpose Deeds include:

Answer 39

Personal Representative Deed Guardian’s Deed Committee’s Deed Tax Deed

Question 40

used by someone appointed by will or by court to settle estate of deceased person. Includes Covenant Against Encumbrances.

Answer 40

Personal Representative’s Deeds

Question 41

used by a guardian acting on behalf of a minor. Includes Covenant Against Encumbrances.

Answer 41

Guardian’s deed

Question 42

used when the owner is legally incompetent. Includes Covenant Against Encumbrances.

Answer 42

Committee’s deed

Question 43

used when property is sold for back taxes. There are no warranties

Answer 43

Tax deed

Question 44

Government restrictions include:

Answer 44

police power eminent domain taxation

Question 45

Private restrictions include:

Answer 45

deed restrictions easements leases liens

Question 46

a type of deed restriction that applies to an entire community

Answer 46

Restrictive covenants

Question 47

a right to use adjoining property that transfers with the land.

Answer 47

appurtenant easement

Question 48

an easement that benefits an individual or company such as a railroad

Answer 48

easement in gross

Question 49

created by the open, notorious, uninterrupted, hostile, and adverse use of another's land for a period of 20 years.

Answer 49

easement by prescription

Question 50

created by court order when one property is landlocked

Answer 50

easement by necessity

Question 51

created when a property owner has “encroached” onto another parcel for a period of seven years or more.

Answer 51

implied easement

Question 52

Long-term leases require signatures of __ witnesses

Answer 52

2

Question 53

Real estate licensee must use fill-in-the-blank lease forms approved by the

Answer 53

Florida Supreme Court

Question 54

Tenant pays fixed rent and sometimes utilities

Answer 54

Gross lease

Question 55

Tenant pays fixed rent plus building expenses including taxes and insurance

Answer 55

Net lease

Question 56

Tenant pays base rent plus a percentage based on gross sales.

Answer 56

Percentage lease

Question 57

Tenant pays rent based on an index

Answer 57

Variable lease

Question 58

Lease on land commonly for as long as 99 years

Answer 58

Ground lease

Question 59

when the tenant assigns all leased property for remainder of lease

Answer 59

Assignment of a lease

Question 60

only assigning a portion of the property or a portion of time.

Answer 60

Sublease

Question 61

voluntary lien created with the consent of the debtor.

Answer 61

Mortgage

Question 62

A purchase money mortgage (seller financing) creates a

Answer 62

vendor’s lien

Question 63

A contractor has only __ days after the last date of work or delivery of supplies is made to file a construction lien against the property to establish lien priority over a mortgage

Answer 63

90

Question 64

paid before junior liens

Answer 64

Superior liens

Question 65

the search through recorded documents to find evidence of title transfer history and mortgages or other liens against the property including judgments and unpaid taxes

Answer 65

abstract of title

Question 66

the formal declaration before a notary public declaring that the signing was voluntary

Answer 66

acknowledgment

Question 67

when a party has awareness or direct notification of a specific fact or proceeding through reading, hearing, or seeing

Answer 67

Actual notice

Question 68

when someone other than the owner takes control of a property

Answer 68

Adverse possession

Question 69

the actual act of transferring title or an interest in real property from one person to another.

Answer 69

alienation

Question 70

a way for one party to be released from obligation to a contract without actually terminating the contract.

Answer 70

Assignment

Question 71

the “linking” of one owner to another as the property has been conveyed from one person to the next

Answer 71

chain of title

Question 72

Governmental power to take land from an owner through the legal process

Answer 72

condemnation

Question 73

an involuntary lien placed against a property for work performed to cover contracted work.

Answer 73

construction lien

Question 74

knowledge which, according to law, a person is able to acquire by making normal and reasonable inquiries

Answer 74

Constructive Notice

Question 75

the main form of title transfer that the licensee will interface with upon the closing of a sale and purchase agreement.

Answer 75

deed

Question 76

created within the deed which limits how an owner can use a property

Answer 76

Deed restrictions

Question 77

a right to use a portion of an owner’s land for a specific purpose.

Answer 77

Easements

Question 78

the governmental power to take land from an owner through the legal process called condemnation

Answer 78

Eminent domain

Question 79

is defined as being an unauthorized use of another’s property

Answer 79

encroachment

Question 80

Provides for the property of a person who dies intestate and who has no known heirs to pass to the state.

Answer 80

escheat

Question 81

grantor will deliver legal instrument if required to stand behind the transfer

Answer 81

Further assurance

Question 82

the most commonly used deed

Answer 82

general warranty deed

Question 83

new owner receiving title granting clause.

Answer 83

Grantee

Question 84

The person transferring title is the

Answer 84

grantor

Question 85

defines the quality of the ownership interest being conveyed

Answer 85

habendum clause

Question 86

A person who dies without a will died

Answer 86

intestate

Question 87

the right to retain the lawful possession of the property of another until the owner fulfills a legal duty to the person holding the property

Answer 87

lien

Question 88

Federal and State Constitutions apply restrictions to protect citizenry for health and safety reasons - Broadest Gov’t. Power.

Answer 88

police power

Question 89

peaceful possession undisturbed by claims of title.

Answer 89

Quiet enjoyment

Question 90

used when such a person agrees to “remise, release, or quitclaim” any claims on the property in the future.

Answer 90

quitclaim deed

Question 91

promises grantor is the true owner and has right to convey title.

Answer 91

seisin

Question 92

the term meaning that a person died with a legal will in place

Answer 92

testate

Question 93

all rights that can be secured and enjoyed under the law

Answer 93

title

Question 94

to defend grantee’s title against all lawful claims.

Answer 94

Warranty forever