Unit 4: Transferring Real Estate

Question 1

A person who dies without a will dies

Answer 1

Intestate

Question 2

Intestate

Answer 2

State provision by law for the distribution of the property of intestate persons.

Question 3

Testator

Answer 3

The person making a will is called the testator (property owner)

Question 4

The testator names

Answer 4

An executor or executrix

Question 5

Someone who receives real property by will is called:

Answer 5

A devisee

Question 6

A typewritten will must be

Answer 6

Made by a competent person, signed by the testator, and witnessed.

Question 7

A statutory will is:

Answer 7

Signed and Witnessed

Question 8

A holographic will is:

Answer 8

Handwritten

Question 9

The probate court appoints

Answer 9

An administrator or administratrix.

Question 10

When soil is deposited on a riverbank, gradually building out the land, this process is called:

Answer 10

Accretion

Question 11

When flood conditions cause the land to be washed away, this is known as:

Answer 11

Avulsion

Question 12

When the water recedes, creating a new shoreline, the process is called:

Answer 12

Reliction

Question 13

Elena moves onto Mike’s land, builds a home, pays the property taxes, and claims she owns the property. When will she have a good title, even against Mike?

Answer 13

After 5 years.

Question 14

Adverse Possession

Answer 14

The concept of taking over someone else’s property and occupying it long enough to acquire ownership.

Question 15

Adverse Possession Acronym (NACHO)

Answer 15

Notorious- Not hiding the fact from anyone
Adverse- To the interests of the real owner
Continuous- For five years
Hostile- Without Permission
Open

Question 16

Elena’s friend Carl, who used to own the property (in other example) gave her a phony deed to Mike’s land. Elena, who does not know the deed is phony, has

Answer 16

Color of Title

Question 17

Color of Title

Answer 17

Possession of a document erroneously appearing to convey title to the occupant.

Question 18

The right to travel over the property of someone else is:

Answer 18

An easement

Question 19

A cotenant who wants a property that is co-owned to be sold would bring:

Answer 19

A partition action

Question 20

Partition Action

Answer 20

brought by a co-owner of a property to force severance of co-owners’ respective interests.

Question 21

In event of default, real property may be sold without court action if the mortgage or other lien instrument contains:

Answer 21

A power of sale.

Question 22

Power of Sale

Answer 22

Gives the trustee under a trust deed the ability to sell the property to satisfy the unpaid debt if the debtor defaults.

Question 23

The court order following a judgment for money is:

Answer 23

A writ of execution

Question 24

Writ of execution

Answer 24

A court order directing the county sheriff or another officer to satisfy a judgment out of the debtor’s property.

Question 25

The power of the state to take private property for public use is called:

Answer 25

Eminent Domain

Question 26

To be effective, a deed must be:

Answer 26

Signed by the grantor.

Question 27

The transfer of title from the grantor to the grantee, and from that grantee to a subsequent grantee, and so on, is called:

Answer 27

The chain of title

Question 28

Legal title conveyed by a deed of trust may be regained by:

Answer 28

A reconveyance deed

Question 29

Intestate Succession

Answer 29

The legal determination of property ownership

Question 30

Broker commissions are subject to:

Answer 30

Statute and Court Approval

Question 31

Accession

Answer 31

Refers to an increase in property owned due to natural additions to the property such as soil from a river.

Question 32

Condemnation

Answer 32

A process that gives notice to the property owner that the property is being taken by eminent domain

Question 33

Inverse Condemnation

Answer 33

Property owners can money damages in a legal action called inverse condemnation if damaged or affected by local public activity. Highways, Airport

Question 34

2 implied warranties of grant deeds

Answer 34

• The Grantors interest in the property has not already been conveyed
• Free of undisclosed encumbrances on the property such as tax liens.

Question 35

Quitclaim Deed

Answer 35

Releases interest of property.

Question 36

Warranty Deed (no longer used in CA)

Answer 36

Expressly warrants that the grantor has a good title.