Unit #4 - Learning Objectives Quiz

Question 1

Describe what happens when someone dies and leaves a will

Answer 1

The executor is responsible for making sure that after a person dies (the decedent) their debts are paid and any remaining estate assets are distributed to loved ones according to the terms of the will. After a death occurs, the executor should file the will with the probate court in the county where the person lived.

Question 2

Describe how the California Law of Intestate Succession affects the disposition of community property and separate property. When someone dies probate.

Answer 2

Spouse with no children or siblings - Spouse inherits entire estate.

Spouse and children - Spouse inherits all community property and share of separate property (depending on how many children).

Children with no spouse, parents and/or siblings - Children inherit everything in equal shares.

Parents and no children and/or siblings - Parents inherit the entire estate.

Spouse and parents and no children - Spouse inherits all community property and ½ of separate property. Parents inherit ½ of separate property.

Spouse and siblings and no children - Spouse inherits all community property and ½ of separate property. Siblings inherit ½ of separate property

Question 3

List the steps involved in a probate sale of real estate

Answer 3

The executor or administration may sell real property if it is in the best interests of the estate to do so (such as to pay debts or may specific bequests).

1. The real property may be offered for sale by the estate representative directly or through one or more brokers.
2. With court permission, the estate representative may grant an exclusive right to sell the property for up to 90 days.
3. The estate representative can accept an offer that is then subject to court confirmation.
4. Broker commissions are subject to statute and court approval.

Question 4

Identify the ways in which property can be increased or acquired that do not involve a purchase.

Answer 4

Accession - man-made or natural additions to property.
Improvements - man-made improvements become part of the owners title to land.
Acretion - land increased by forces of nature.
Reliction - waters of any moving body of way may permanently recede, recovering new land that was once under the water.
Occupancy - sometimes you can acquire an ownership right to property by occupying (using) it. Your use must be without the present owner’s permission and the land cannot be publicly owned. (Adverse possession, prescription, abandonment)

Question 5

Define the ways in which title to property can be transferred.

Answer 5

Private/public grant, public dedication, alienation by operation of law or court action, execution sale, forfeiture, bankruptcy, marriage, Escheat, Eminent domain, Equitable estoppel.

Question 6

Explain the requirements for a valid deed.

Answer 6

1. must be in writing
2. must be a description of the parties, full name and marital status
3. Grantor must be legally capable of executing a written conveyance. (An adult or of sound mind)
4. must be an adequate description of the property being conveyed.
5. must be a grant clause in which the necccessary language of conveyance is used such as the words grant or convey.
6. deed must be signed by the grantor(s)
7. deed must be delivered to the grantee and accepted by the grantee.

Question 7

List the types of deed used in California

Answer 7

Grant deed
Gift deed 
Quitclaim deed
Warranty deed
Trust deed
Reconveyance deed
Sheriff's deed
Tax deed
Transfer on Death deed