unit 7 Title Records

Question 1

The act of placing documents in the public record

Answer 1

Recording

Question 2

The legal presumption that information may be obtained through diligent inquiry,questing and research

Answer 2

Constructive notice

Question 3

When an individual is actually aware of a Fact, they said to have this type of notice

Answer 3

Actual notice

Question 4

the Order of rights in time such as who recorded first, which party was in possion first.

Answer 4

Priority

Question 5

The record of a property’s ownership from the earliest owners

Answer 5

Chain of title

Question 6

A legal action to remove a cloud on the title and establish legal ownership

Answer 6

Action to quiet title

Question 7

An examination of all the public records to determine if any defects exist in a property history ownership

Answer 7

Title Search

Question 8

The individual who prepares a summary report of the results of a title search

Answer 8

Abstractor

Question 9

A contract under wich a policyholder is protectedfrom losses arising from defects in titles

Answer 9

Title Insurance

Question 10

Title problem that is created by a gap in the chain of the tite or oher dispute of owership

Answer 10

Cloud of title

Question 11

3 types of notice

Answer 11

1: contructive
2: Actual
3: Inquiry

Question 12

Not all pertinent information is
of the public record when the information is needed and
therefore additional due diligence is required.

Answer 12

Unrecorded Documents

Question 13

The Marketable Title Acts extinguish certain interests and cures certain defects arising before the rood of the title – the conveyance that establishes the source of the chain of title

Answer 13

Root of the title

Question 14

title insurance coverage have some exclusion

Answer 14

Exclusions include zoning ordinances, restrictive

covenants, easements, water rights, and current taxes and special assessments.