Unit 5 Flashcards
In North Carolina, the statutory period for adverse possession (without color of title) is an uninterrupted period of how many years when trying to acquire privately owned property?
A. 3
B. 7
C. 20
D. 30
C. 20
Title to real estate may be transferred during a person’s lifetime by which of the following means?
A. escheat
B. descent
C. alienation
D. devise
C. alienation
What type of deed might an owner of real estate use to voluntarily transfer a right, a title, or an interest in real estate?
A. sheriff’s deed
B. warranty deed
C. foreclosure deed
D. trustee’s deed
B. warranty deed
A man owned property as a tenant in common with his tow best friends. Years later, the nam was adjudge legally incompetent and moved into a nursing home. During his stay at a nursing home, the man wrote a will leaving his entire estate to the nursing assistant assigned to his care. The man was survived by three children when he died. After his death his real estate interest passed to
A. his two best friends due to ownership rights.
B. the nursing assistant named in his will.
C. his children by the law of intestate succession.
D. the state be escheat.
C. his children by the law of intestate succession.
Which of the following is NOT a means of title transfer by involuntary alienation?
A. eminent domain
B. escheat
C. foreclosure
D. will
D. will
Which of the following BEST describes the covenant of quiet enjoyment?
A. The grantor promises to obtain and deliver any instrument needed to make the tittle good.
B. The grantor guarantees the if the title fails in the future, the grantor will compensate the grantee.
C. The grantor warrants that the grantor is the owner of the property and has the right to convey title to it.
D. The grantor ensures that the title will be good against the title claims of third parties.
D. The grantor ensures that the title will be good against the title claims of third parties.
A purchaser went to the Registry of Deeds to check the public records. She found that the seller was the grantee in the last recorded deed and that no mortgage was ever on record against the property. Therefore, the purchaser may assume which of the following?
A. All taxes are paid, and no judgements are outstanding.
B. The seller has good title.
C. The seller probably did not mortgage the property.
D. Probably no one else is occupying the property.
C. The seller probably did not mortgage the property.
The person who examines the chain of title and prepare an opinion of title for a parcel of real estate
A. writes a brief history y of the record of ownership of the property.
B. ensures the condition of the title.
C. inspects the physical condition of the property.
D. issues a guarantee as to the quality of the title.
A. writes a brief history y of the record of ownership of the property.
Instruments affecting real estate are recorded in the public records of the county where the property is located because
I. recording gives constructive notice to the world of the rights and interest in a particular parcel of real estate.
II. the instruments must be recorded to comply with the terms of the county recording laws.
A. I only
B. II only
C. Both I and II
D. Neither I nor II
A. I only
Chain of title refers to a
A. summary of all instruments and legal proceedings affecting a specific parcel of land.
B. series of links measuring 7.92 inches each.
C. document that protects the insured parties against defects and hidden risks such as forgeries, undisclosed heirs, errors in the public records, and so forth.
D. succession of conveyances from some starting point whereby the present owner derives title.
D. succession of conveyances from some starting point whereby the present owner derives title.
A title insurance policy with standard coverage generally covers all of the following EXCEPT
A. forged documents
B. incorrect marital statements
C. rights of parties in possession
D. incompetent grantors
C. rights of parties in possession
Condemnation is
A. the right of the government to take private property.
B. rezoning of private property.
C. the process by which eminent domain is exercised.
D. adverse possession with just compensation.
C. the process by which eminent domain is exercised.
Which of the following is NOT a necessary condition of eminent domain?
A. Use benefits the public.
B. Property is to be given to the owner of a quasi-public corporation.
C. Property owner is protected by doe prices of law.
D. Just compensation is paid to the property owner.
B. Property is to be given to the owner of a quasi-public corporation.
Which of the following real estate documents is LEAST likely to be recorded?
A. deed
B. month-to-month lease
C. option contract
D. land contract
B. month-to-month lease
Which of the following should be discoverable in search of the public records?
A. encroachments
B. rights of any party in possession
C. inaccurate surveys
D. easements
D. easements
