Unit 7: Title Records

Question 1

Land, transfer (alienation) forms of ownership, deed, freehold estates - order these

Answer 1

land, freehold estates, forms of ownership, transfer (alienation), deed.

Question 2

Recording process. date/time are important. document goes into public records. true/false

Answer 2

true

Question 3

Anything that might cast doubt on marketable title is a ____ on title

Answer 3

cloud

Question 4

a gap in the chain of title, unreleased lien, undisclosed encumbrances, court orders, are examples of a ____ on title

Answer 4

cloud

Question 5

the attorney’s opinion of title will determine the marketability true/false

Answer 5

true

Question 6

The title report shows only the current status of ______ and recorded ______, but does not show the history of past _____ or ______

Answer 6

ownership, encumbrances, owners, encumbrances

Question 7

____ ____ policy protects the buyers and their heirs. based on the sales price

Answer 7

standard owners

Question 8

____ _____ protects the mortgagee/lender coverage based on the loan amount

Answer 8

lender’s policy

Question 9

Standard owners coverage policy covers matters of record that are not listed as exceptions, including the following: errors on ___ ____ errors in the ____, errors in the ____ record, hidden ____

Answer 9

title examination, abstract, public, defects

Question 10

A _____ _____ coverage policy adds protection against problems that are not a matter of public record but would probably be discovered through inspection, such as the following:

• parties in possession or adverse possession issues
• matters of the ___, such as encroachments
• ___ period (from title commitment through recording the deed

Answer 10

extended owners, survey, gap

Question 11

The gap period is covered by the _________ _______ coverage policy

Answer 11

extended owners

Question 12

all exceptions listed in the commitment or policy, including liens. defects known to the buyer and the seller. zoning use or changes. These would/wouldn’t be covered by any insurance coverage

Answer 12

would not

Question 13

Title insurance premium is paid only once at closing (true/false)

Answer 13

true

Question 14

_______: a recorded notice of a pending lawsuit affecting title to property

Answer 14

lis pendens

Question 15

True/false: all parties with a claim must present evidence of the claim in court

Answer 15

true

Question 16

Once the court order is recorded, the cloud on the title is cleared (true/false)

Answer 16

true