Transfer of Property Flashcards
How many years does a taxpayer have to pay delinquent taxes before losing title to his or her property?
Five
Gable conveys title to his son by grant deed. He gives the deed to his friend Laker to be held until Gable’s death. Upon Gable’s death there would most likely be a question concerning:
delivery. Delivery must be done during the grantor’s lifetime.
Which of the following qualifies as artificial monuments?
Streets and canal. Artificial (man-made).
The following words “ambulatory,” “legatee,” and “codicil” refer to a
Will
The opposite of alluvium is
erosion
When an insurance company cancels a policy, the refund is based on
pro rata. When the company cancels the refund is prorated. When the insured cancels the refund is short rated.
Losing title to land by the wearing away by action of the water would be
erosion
Mia is owner of a home which she has agreed to sell to Peter. A preliminary title report which was prepared during escrow shows:
information about a deed of trust with Mia as trustor. A preliminary title report will show the existing loan with Mia as trustor.
The Rebate Law:
requires a title insurance company not only to charge for a report, but also to make a sincere effort to collect.
The seizing of property by the sheriff to be held as a security for a legal action is known as a(n):
Attachment. A writ of attachment is the process by which the court holds the real or personal property of a defendant as security for a possible judgment pending the outcome of a lawsuit
The law requires the county record to index grant deeds:
alphabetically according to grantor and grantee. Deeds are indexed alphabetically according to grantor and grantee. Do not confuse indexing with filing.
A standard title insurance policy will insure against
forgery in the chain of title. Forgery is the only one covered under CLTA standard title insurance; it does not cover unrecorded encumbrances and liens and never covers government regulations.
A Property tax bill would least likely to include a legal description of a parcel of real estate.
Property tax bills use an assessor parcel number, not a legal description. The other documents will contain a legal description.
