unit 9 Flashcards
If buyers inspect the public records before purchasing property and see that the property has a lien against it, the buyers have
actual notice.
Which isNOTa requirement of a valid formal will in Texas?
a. At least 21 years of age or lawfully married, a member of the military, or granted majority status by the courts
b. In writing and signed
c. No undue influence
d. Witnessed by two or more persons above age 14
a. At least 21 years of age or lawfully married, a member of the military, or granted majority status by the courts
How often is a homeowner billed for title insurance?
Once, when the home is purchased
An owner of Texas real estate was declared legally incompetent and committed to a state mental institution. While institutionalized, the owner wrote and executed a will. The owner later died and was survived by a spouse and three children. The real estate will pass
according to the Texas laws of descent.
What is the primary difference between a will and a deed?
A will only takes effect upon death of the decedent, while a deed represents a current interest by a grantor who is alive.
When does the title commitment process begin?
When the real estate agent delivers the sales contract to the selected title insurance company to begin the title search process
A property owner discovers that someone has moved into old caretakers quarters on his land. If the property owner does not file an adverse possession suit or otherwise remove the trespasser within a prescribed period, the adverse posses
a fee simple estate.
A grantor who wishes to limit liability for encumbrances against the property to those that occurred after the grantor acquired the property would execute a
special warranty deed.
How much commission will a real estate broker receive if he sells property out of an estate in probate?
The probate judge would set the commission.
A title company tells a purchaser that it will be conducting a title search before conducting the closing on the property. Which wouldNOTbe a part of the title search?
a. A title search traces the records of conveyances of ownership from the present owner back to the origin of the title.
b. A title search is an examination of all public records in the county to determine who has rights in the property and whether any defects exit in the chain of title.
c. A title search includes an examination of deeds, wills, judicial proceedings, and other encumbrances that may affect the title.
d. A title search, when completed, will provide satisfactory evidence of title.
d. A title search, when completed, will provide satisfactory evidence of title.
CD took title to property under the name BD. When she sold the property, she signed CD as grantor. The buyer has
a cloud on the title.
The buyer’s attorney examines the abstract and writes a report called an attorney’s
opinion of title.
If a landowner discovers an adverse possessor using his property to grow crops, could he stop any adverse possession claim against the land by giving the adverse possessor permission to grow the crops?
The owner could grant permission to grow the crops and file that permission with the county clerk.
If a legal name is misspelled on a deed being transferred, what kind of deed resolves the issue the easiest?
A quitclaim deed
At closing, a home purchaser was given an owner’s title policy. Which of the following wouldNOTbe a characteristic of the policy?
a. The owner’s title policy guarantees that the title company will pay to defend the title if it proves to be defective.
b. The owner’s title policy guarantees continued ownership of the property.
c. The owner’s title policy protects the seller from losses arising from defects in the title that occurred before the policy was issued.
d. The owner’s title policy automatically converts to a warrantor’s policy in perpetuity upon the sale of the property.
b. The owner’s title policy guarantees continued ownership of the property.
Title to real estate can be transferred at death by which of the following documents?
Will
Grants of land from the Republic or the State of Texas are called
surveys.
What happens to an owner’s title insurance policy if the owner dies?
If the homeowner dies, the policy transfers to the trust of the named beneficiaries.
Are covenants in a general warranty deed restricted to the period the grantor actually owned the property?
No, in a general warranty, the grantor is assuring the quality of the title all the way back to its origin.
Is a general warranty deed considered proof of title?
No, it contains no proof of the kind or condition of the current title.
Which is established through successive changes in ownership?
Chain of title
Can anyone go either to the courthouse or online and search property records for the names of the current owners of a property?
Yes, records are public and searchable by anyone.
A prospective buyer checked records at the county clerk’s office and discovered that the seller was the grantee in the last recorded deed. There is no mortgage on record against the property. Therefore, the buyer may assume
the seller did not mortgage the property.
Which isNOTa requirement for a valid deed?
a. Granting clause
b. Consideration
c. Delivery and acceptance
d. Signature of the grantee
d. Signature of the grantee
Title to real estate may be transferred during a person’s lifetime by which of the following means?
Involuntary alienation
Albert and Danielle purchased a ranch house near El Paso. To provide evidence of their ownership, they obtained a title insurance policy. The policy
will reimburse, up to the amount of the policy, losses that Albert and Danielle sustain as a result of incompetent grantors.
A homeowner plants a garden that actually spreads onto a neighbor’s land. The homeowner uses the garden for three years, then sells his home to another family, which continues with the garden. Five years later, that family sells the home to yet another family, who also continue with the garden. Three years after that, the latest family files a claim for adverse possession of the garden. Will they receive the land?
Yes, if the garden has been in continuous use for more than 10 years, the claimant may receive the property.
To be valid, must a deed be signed by all grantors named in the deed?
Yes, all grantors who are named on the deed must sign it.
Which of the following is also called a bargain and sale deed?
Deed without warranty
Why is it necessary to document and record property transfers?
So that a purchaser may see the title history of a property before purchasing it.
What assurances are offered through a covenant against encumbrances?
The buyer is assured the property is free of liens except for those specifically written into the deed.
The Jacksons went to the title company and closed on their new home. Which isNOTa method for the title to be conveyed to them?
a. Hand delivery of the deed by the grantor to the buyer
b. Delivery of the deed by the grantor to the escrow agent
c. Recording the deed with the county clerk
d. Delivery of the deed by the grantor to the seller’s real estate agent
d. Delivery of the deed by the grantor to the seller’s real estate agent
A person has legally taken (by adverse possession) control of another individual’s property. Does the acquiring possessor also gain mineral rights?
Yes, adverse possession includes mineral rights.
If a person younger than 18, who has been declared of legal age for the purposes of selling property, changes her mind upon reaching age 18, can the property be retrieved?
Yes, a sale by an “infant,” (the legal term for someone under 18), may be considered voidable once the child has reached 18.
Can children under the age of 18 (“infants” in Texas law) legally sell real estate they have title to?
Yes, if an individual has been married before the age of 18, that person may be considered of legal age.
In the state’s history, Texas land has been organized under how many systems?
Four: the Spanish government, the Mexican government, the Republic of Texas, and the State of Texas
During the sovereignty of the Republic of Texas (1836‒1846) and for a period thereafter, how much land did settlers receive?
640 acres
Ultimately, who is responsible for maintaining complete records of land ownership and transfers?
The county clerk where the property is located
The Jacksons went to the title company and closed on their new home. Which isNOTa method for the title to be conveyed to them?
a. Delivery of the deed by the grantor to the seller’s real estate agent
b. Hand delivery of the deed by the grantor to the buyer
c. Recording the deed with the county clerk
d. Delivery of the deed by the grantor to the escrow agent
a. Delivery of the deed by the grantor to the seller’s real estate agent
If a person younger than 18, who has been declared of legal age for the purposes of selling property, changes her mind upon reaching age 18, can the property be retrieved?
Yes, a sale by an “infant,” (the legal term for someone under 18), may be considered voidable once the child has reached 18.
To be valid, must a deed be signed by all grantors named in the deed?
Yes, all grantors who are named on the deed must sign it.
