Unit 7 Flashcards
Public records are NOT maintained by the clerks of the court.
False
The legal presumption that information may be obtained by an individual through due diligence is called constructive notice.
True
A certificate of title provides a guarantee of ownership.
False
The title insurance policy generally identifies certain uninsurable losses called exclusions, including those resulting from issues such as zoning.
True
A buyer took delivery of the deed to a new house but neither recorded the deed nor took possession of the property. Under these circumstances,
the buyer’s interest is not fully protected against third parties.
The recordation of a warranty deed
gives constructive notice of an individual’s interest.
Properly recording documents in the public record provides what type of notice to the world of an individual’s rights or interest?
Constructive
Standard title insurance protects the buyer from
defects found in public records.
A buyer who wants to know whether the title for a property is in good standing would order
an abstract.
Which of the following BEST describes chain of title?
It is a history of all documents and legal proceedings affecting a specific parcel of land.
A policy of title insurance typically does NOT cover
zoning changes.
Which of the following is only covered by an extended coverage title insurance policy?
Unrecorded rights of parties in possession
Documents referred to as title evidence include
policies of title insurance.
All written documents that affect title to real estate should be
made a part of the public record.
Actual notice is
provided when someone has been given information.
