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
