Exam 49: Transfer and Control of Real Property

A transaction involving real estate whereby one party deposits a deed or money with a third party who holds the deed or funds until the happening of an agreed-upon event is called a(n):

A special warranty deed will give the buyer better rights against the grantor (seller)than a general warranty deed.

If Caleb's mortgage debt is greater than the amount for which his farm is sold in a foreclosure action,he is excused from payment of the remainder.

A doctrine allowing a mortgagor who has defaulted to regain her property prior to its sale by paying the debt in full with interest is known as:

Most states have adopted the theory that a mortgage is a lien on real property for the payment of a debt.

Discuss the types of deeds that can be used to transfer title.

A restrictive covenant stating that a house cannot be sold to someone who is not of the Caucasian race will be upheld by the courts.

A deed is not effective to transfer title to land until delivery.

What should the simplest agreement for the sale of land contain?

The covenant of title made by a grantor in a deed is also known as the covenant of:

A chronological report of recorded transfers and encumbrances to the property can be obtained by a(n):

A warranty deed by Artie to Brooke includes Artie's promise that he will be liable to Brooke for any defects in title.

Which of the following is INCORRECT regarding zoning?

Harper and her child are seeking an apartment.Harper is not married and never has been.Grant owns an apartment complex with 8 units ready to rent.Grant may legally refuse to rent to Harper on the basis that she is a single,unwed mother.

Eminent domain would permit condemnation of land for all the following purposes except:

The elements of adverse possession include:

Someone who expressly assumes a mortgage is personally obligated to pay it.

A mortgagee cannot assign a mortgage without the consent of the mortgagor.

Which of the following would be an invalid restrictive covenant in a deed?

Under notice-race statutes,a subsequent purchaser of real estate will prevail if he or she: