Question 1

Provisions of general contract law govern the sale of real property.

Accepted Answer

A) True 
 B)False

Question 2

Foreclosure is the mortgagee's right to sell the property to satisfy the debt.

Accepted Answer

A) True 
 B)False

Question 3

Alice purchases Bob's house and in so doing assumes the mortgage.Which of the following is/are true?

Accepted Answer

A)  Only Alice is personally liable to pay the mortgage. 
B)  Bob and Alice are both personally liable to pay the mortgage. 
C)  Only Bob is liable to pay the mortgage. 
D)  Bob is only liable if Alice defaults. 
A)  Only Alice is personally liable to pay the mortgage. 
B)  Bob and Alice are both personally liable to pay the mortgage. 
C)  Only Bob is liable to pay the mortgage. 
D)  Bob is only liable if Alice defaults.

Question 4

A minority of states have adopted the common law lien theory of mortgages which gives the mortgagor the right of ownership and possession.

Accepted Answer

A) True 
 B)False

Question 5

Eminent domain does not grant the government power to take private land for public use.

Accepted Answer

A) True 
 B)False

Question 6

A zoning ordinance may be challenged in the court by proving:

Accepted Answer

A)  it bears no reasonable relation to public health,safety,morals,or welfare. 
B)  it involves the exercise of powers not granted to the municipality by the enabling act. 
C)  the restriction deprives a person of all use of the property. 
D)  Any of these. 
A)  it bears no reasonable relation to public health,safety,morals,or welfare. 
B)  it involves the exercise of powers not granted to the municipality by the enabling act. 
C)  the restriction deprives a person of all use of the property. 
D)  Any of these.

Question 7

A contract agreeing to indemnify the insured against certain specified defects in title to real property is called:

Accepted Answer

A)  title insurance. 
B)  a warranty deed. 
C)  guarantee insurance. 
D)  a real estate guarantee. 
A)  title insurance. 
B)  a warranty deed. 
C)  guarantee insurance. 
D)  a real estate guarantee.

Question 8

The Fair Housing Act prohibits discrimination based on race and color only.

Accepted Answer

A) True 
 B)False

Question 9

Jan owns lots in the Cruz neighborhood,where she was planning to build an 8-story apartment complex.Cruz has adopted a single-family dwelling ordinance that encompasses Jan's lots.Jan goes to the library and finds she can attempt to get judicial review of ordinances based on which of the following?

Accepted Answer

A)  The zoning ordinance is invalid. 
B)  The ordinance bears no reasonable relation to public health,safety,morals,or welfare. 
C)  The ordinance amounts to confiscation of property. 
D)  All of these. 
A)  The zoning ordinance is invalid. 
B)  The ordinance bears no reasonable relation to public health,safety,morals,or welfare. 
C)  The ordinance amounts to confiscation of property. 
D)  All of these.

Question 10

Ellen's driveway is actually on Richard's land,but Ellen has used it for 20 years with no complaint from Richard.When Richard sells his house,a survey shows the problem and the new owner demands that Ellen abandon use of the driveway.Will she have to move her driveway?

Accepted Answer

A)  Yes,since Richard is selling the land that the driveway is on 
B)  Yes,since it is not in her deed 
C)  Not if she used it continuously 
D)  Not if she got permission from Richard 
A)  Yes,since Richard is selling the land that the driveway is on 
B)  Yes,since it is not in her deed 
C)  Not if she used it continuously 
D)  Not if she got permission from Richard

Question 11

A buyer of real estate subject to a mortgage who does not undertake any personal liability for payment of the mortgage debt:

Accepted Answer

A)  takes the property "subject to" the mortgage. 
B)  "assumes" the mortgage. 
C)  can only obtain a quitclaim deed. 
D)  can only obtain a leasehold. 
A)  takes the property "subject to" the mortgage. 
B)  "assumes" the mortgage. 
C)  can only obtain a quitclaim deed. 
D)  can only obtain a leasehold.

Question 12

Which of the following may transfer title to land?

Accepted Answer

A)  Deed 
B)  Will,or by the law of descent upon the death of the owner 
C)  Open,continuous,and adverse possession by a nonowner for a statutorily prescribed period of years 
D)  All of these. 
A)  Deed 
B)  Will,or by the law of descent upon the death of the owner 
C)  Open,continuous,and adverse possession by a nonowner for a statutorily prescribed period of years 
D)  All of these.

Question 13

In order for a deed to be effective between the purchaser and the seller of real estate,the deed must:

Accepted Answer

A)  be in writing and signed by both parties. 
B)  include the actual sale price. 
C)  be recorded pursuant to the state statute. 
D)  be delivered to the buyer by the seller with the intent to transfer title. 
A)  be in writing and signed by both parties. 
B)  include the actual sale price. 
C)  be recorded pursuant to the state statute. 
D)  be delivered to the buyer by the seller with the intent to transfer title.

Question 14

Marketable title means that the title is free from which of the following?

Accepted Answer

A)  Encumbrances 
B)  Defects in the chain of title appearing in the land records 
C)  Events depriving the seller of title 
D)  All of these. 
A)  Encumbrances 
B)  Defects in the chain of title appearing in the land records 
C)  Events depriving the seller of title 
D)  All of these.

Question 15

Debra buys land from Oscar,relying upon a mortgage release executed and recorded by the mortgagee,Keith.Keith,however,had previously assigned the mortgage to Andrew who failed to have the assignment recorded.In this case,Andrew has:

Accepted Answer

A)  no claim against the property in the absence of Debra's actual knowledge of the assignment by Keith. 
B)  no claim against the property because a mortgagee has no right to assign the mortgage to another person. 
C)  a claim against the property because the assignment to him took place before Debra's purchase of the land. 
D)  a claim against the property because recording is not necessary to the effectiveness of a mortgage assignment. 
A)  no claim against the property in the absence of Debra's actual knowledge of the assignment by Keith. 
B)  no claim against the property because a mortgagee has no right to assign the mortgage to another person. 
C)  a claim against the property because the assignment to him took place before Debra's purchase of the land. 
D)  a claim against the property because recording is not necessary to the effectiveness of a mortgage assignment.

Question 16

Title insurance is made unnecessary by performance of a title search.

Accepted Answer

A) True 
 B)False

Question 17

A special warranty deed limits the warranty given out by the grantor to acts or omissions of the grantor.

Accepted Answer

A) True 
 B)False

Question 18

The right of redemption would require:

Accepted Answer

A)  a court order. 
B)  assent of all parties. 
C)  payment of the entire debt with interest. 
D)  payment of past due installments. 
A)  a court order. 
B)  assent of all parties. 
C)  payment of the entire debt with interest. 
D)  payment of past due installments.

Question 19

The Fair Housing Act exemptions do not apply to discrimination based on race or color.

Accepted Answer

A) True 
 B)False

Question 20

The exemption from application of the Fair Housing Act applies to single-family homes owned by private individuals who own fewer than four houses.

Accepted Answer

A) True 
 B)False

Exam 49: Transfer and Control of Real Property

Provisions of general contract law govern the sale of real property.

Foreclosure is the mortgagee's right to sell the property to satisfy the debt.

Alice purchases Bob's house and in so doing assumes the mortgage.Which of the following is/are true?

A minority of states have adopted the common law lien theory of mortgages which gives the mortgagor the right of ownership and possession.

Eminent domain does not grant the government power to take private land for public use.

A zoning ordinance may be challenged in the court by proving:

A contract agreeing to indemnify the insured against certain specified defects in title to real property is called:

The Fair Housing Act prohibits discrimination based on race and color only.

Jan owns lots in the Cruz neighborhood,where she was planning to build an 8-story apartment complex.Cruz has adopted a single-family dwelling ordinance that encompasses Jan's lots.Jan goes to the library and finds she can attempt to get judicial review of ordinances based on which of the following?

Ellen's driveway is actually on Richard's land,but Ellen has used it for 20 years with no complaint from Richard.When Richard sells his house,a survey shows the problem and the new owner demands that Ellen abandon use of the driveway.Will she have to move her driveway?

A buyer of real estate subject to a mortgage who does not undertake any personal liability for payment of the mortgage debt:

Which of the following may transfer title to land?

In order for a deed to be effective between the purchaser and the seller of real estate,the deed must:

Marketable title means that the title is free from which of the following?

Debra buys land from Oscar,relying upon a mortgage release executed and recorded by the mortgagee,Keith.Keith,however,had previously assigned the mortgage to Andrew who failed to have the assignment recorded.In this case,Andrew has:

Title insurance is made unnecessary by performance of a title search.

A special warranty deed limits the warranty given out by the grantor to acts or omissions of the grantor.

The right of redemption would require:

The Fair Housing Act exemptions do not apply to discrimination based on race or color.

The exemption from application of the Fair Housing Act applies to single-family homes owned by private individuals who own fewer than four houses.

Introduction to Law

Business Ethics and the Social Responsibility of Business

Civil Dispute Resolution

Constitutional Law

Administrative Law

A: Administrative Law

Criminal Law

Intentional Torts

Negligence and Strict Liability

Introduction to Contracts

Mutual Assent

Conduct Invalidating Assent

Consideration

Illegal Bargains

Contractual Capacity

Contracts in Writing

Third Parties to Contracts

Performance,breach,and Discharge

Contract Remedies

Relationship of Principal and Agent

Relationship With Third Parties

Introduction to Sales and Leases

Performance

Transfer of Title and Risk of Loss

Products Liability: Warranties and Strict Liability in Tort

Sales Remedies

Form and Content

Transfer and Holder in Due Course

Liability of Parties

Bank Deposits,collections,and Funds Transfers

Formation and Internal Relations of General Partnerships

Operation and Dissolution of General Partnerships

Limited Partnerships and Limited Liability Companies

Nature,formation,and Powers

Financial Structure

Management Structure

Fundamental Changes

Secured Transactions and Suretyship

Bankruptcy

Protection of Intellectual Property

Antitrust

Consumer Protection Double

Employment Law

Securities Regulation

Accountants Legal Liability

Environmental Law

International Business Law

Introduction to Property,property Insurance,bailments,and Documents of Title

Interests in Real Property

Trusts and Decedents Estates

Legal Terminology: Understanding Criminal and Civil Law Systems

Contract Law Terminology

Exploring the Legal Concepts of Agency and Fiduciary Duty

Understanding Key Legal Concepts in Sales and Contracts

Understanding the Terminology of Banking and Finance: Key Concepts and Definitions

Exploring Legal Concepts and Processes in Business Partnerships

Understanding Corporate Law: A Guide to Ultra Vires Acts, Subscribers, Debt Securities, and More

Understanding Key Terms in Secured Transactions and Bankruptcy Law

Legal Topics and Terms