REE ch.4 unit 6 Flashcards

REE ch.4 unit 6 Flashcards All of the following are ways for involuntary alienation to occur EXCEPTabandonment.eminent domain.private grant.foreclosure.private grant.Which of the following is NOT a necessary condition for claiming title by adverse possession?Occupy the property without concealmentOccupy an unpermitted structure on the propertyOccupy the property without permissionOccupy the property for a statutory period Occupy an unpermitted structure on the property Adverse possession is a form ofconstructive notice.estoppel.involuntary title transfer.title plant.involuntary title transfer.The type of deed that offers the grantee the fullest protection against claims to the title is thegeneral warranty deed.special warranty deed.quitclaim deed.bargain and defend deed.general warranty deed Which of the following is TRUE of a nuncupative will?It is in the testator's handwriting.Generally, it does not need to be signed in order to be valid.It is valid for the transfer of real property, even if it is not witnessed.Generally, it is not valid for the transfer of real property.Generally, it is not valid for the transfer of real property.Which of the following best describes actual notice?It is notice published in a newspaper.It is knowledge one could have or should have obtained.It is notice explicitly stated in a legal document.It is knowledge received or imparted through direct experience.It is knowledge received or imparted through direct experience.Which record would show you who owned a property back in 1940?Title of OwnershipTitle RecordChain of TitleChain of Ownership Chain of Title What is a documentary stamp tax?A transfer tax based on the price of the property being conveyedA tax a title company must pay in order to examine title records in the recorder's officeA tax collected by attorneys and paid to the state when transfer documents are preparedA tax on stamps used to certify the authenticity of a conveyance A transfer tax based on the price of the property being conveyed If two parties claim severalty ownership of the same property, a court will generally decide in favor of the person who hasthe oldest deed.actual possession of the property.the most and best verbal evidence of ownership.a combination of actual and constructive notice evidence of real property ownership.a combination of actual and constructive notice evidence of real property ownership.Which of the following circumstances is likely to render a will invalid?The testator is only 21 years old.The devisee is

under duress.The will is unsigned.The will is signed by three witnesses.The will is unsigned.

Which is NOT one of the three channels of probate deliberation?Testate proceeding.Interstate proceeding.Intestate proceeding with heirs.Intestate proceeding without heirs.Interstate proceeding.What are the two forms of owner's title insurance?Formal and InformalBasic and ComprehensiveShort and LongStandard and Extended Standard and Extended Which document would note a lien on the title?AbstractTitle of RecordMirror TitleTitle of Liens Abstract James created his own will by writing it out on legal pad.What kind of will is this?HolographicTopographicTransposedBiographical Holographic The owner of a property creates a deed, leaving the name of the grantee blank, and puts it in a drawer, where it is forgotten for several years. One day, a visitor finds the deed, fills in his name as grantee, and attempts to record it.However, the owner will probably have no trouble disputing the validity of the deed becausethe grantee was not competent at the time of delivery.there was no intent to deliver it, and no consideration was given.the grantee did not sign it at the time of execution.it was not accompanied by a transfer certificate.there was no intent to deliver it, and no consideration was given.A person who dies without a will is said to beprostrate.intestate.estateless.undevised.intestate.Which of the following best describes constructive notice?It is notice published in a newspaper.It is knowledge one could have or should have obtained.It is notice explicitly stated in a legal document.It is knowledge received or imparted through direct experience.It is knowledge one could have or should have obtained.Under the laws of descent, who gets a property when its owner dies without a will and no legal heirs can be found?The federal governmentThe heirs of the previous owner of recordThe state or countyThe nearest municipality The state or county The question of who owns title to a property is generally a function ofwho has a bill of sale for the property.who has physical possession of the property.who has the best evidence of ownership.who has a deed for the property.who has the best evidence of ownership.A buyer has signed a contract to purchase a property but is uncertain of the condition of the title. Who is legally responsible for knowing the condition of the title?The County RecorderThe seller's agentThe buyerThe mortgage lender The buyer The court proceeding that generally settles a decedent's estate is calledtestate.probate.escheat.distribution.probate.

Which is NOT a conveyance clause?A granting clause.A habanero clause.A reserving clause.A tenendum clause.A habanero clause.Of the following types of deeds, which provides the grantee with the best assurance of title?Bargain and saleGeneral warrantySpecialQuitclaim General warranty Someone who possesses all ownership interests in real property ownsequitable title to the real property.legal title to the real property.equitable and legal title to the real property.statutory title to the real property.legal title to the real property.Why would a property owner file a quiet title suit?To force the grantor to defend the title against a third party claimTo terminate a co-ownership estate when one co-owner is unwillingTo keep the owner's name out of the title recordsTo have an encumbrance removed if the lien holder cannot prove its validity To have an encumbrance removed if the lien holder cannot prove its validity A standard owner's title insurance policy generally protectsthe owner against loss of title in a foreclosure suit.the owner against liabilities and losses resulting from title defects.lien holders against loss of their collateral.the seller against liability for conveying title with unrecorded defects.the owner against liabilities and losses resulting from title defects.What is "color of title?"Title that does not convey ownershipDefective title, or title received by defective meansTitle before it has been recordedTitle that is nuncupative or holographic Defective title, or title received by defective means A municipality wants to build a water treatment facility, and requires some privately owned land to do so. What procedure enables the municipality to buy the property, even against the owner's wishes?EstoppelEscheatAlienationEminent domain Eminent domain A property may escheat to the state or county ifit is abandoned for a period prescribed by law.it is occupied by a hostile possessor.its owner fails to maintain it according to covenants.the state or county needs it for a public project.it is abandoned for a period prescribed by law.In general terms, a person who possesses the complete bundle of rights to a property ownsenforceable title.veritable title.equitable title.legal title.legal title.