Question 1

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

Question 2

The warranty of habitability benefits only the original purchaser of a house.

Accepted Answer

A) True 
 B)False

Question 3

If Bob'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.

Accepted Answer

A) True 
 B)False

Question 4

The seller's warranty that he has marketable title to the land would be breached if the buyer discovers:

Accepted Answer

A)  a lien on the land. 
B)  a defect in the chain of title. 
C)  a lease on the premises. 
D)  All of these. 
A)  a lien on the land. 
B)  a defect in the chain of title. 
C)  a lease on the premises. 
D)  All of these.

Question 5

If Stan's land is condemned in order to build a subway system for the city, he must be given:

Accepted Answer

A)  the fair market value of the property. 
B)  equivalent property. 
C)  the option of keeping the property. 
D)  his price for the property. 
A)  the fair market value of the property. 
B)  equivalent property. 
C)  the option of keeping the property. 
D)  his price for the property.

Question 6

The original mortgagor and mortgagee can transfer their interests to assignees whose right and obligations will depend primarily on which of the following?

Accepted Answer

A)  Agreement of the parties to the assignment 
B)  Legal rules protecting the interest of one who is party to the mortgage but not to the transfer 
C)  Both of these. 
D)  None of these. 
A)  Agreement of the parties to the assignment 
B)  Legal rules protecting the interest of one who is party to the mortgage but not to the transfer 
C)  Both of these. 
D)  None of these.

Question 7

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 8

A majority of jurisdictions follow the common law rule that the risk of loss or destruction of real property rests with the seller until the deed is conveyed to the purchaser.

Accepted Answer

A) True 
 B)False

Question 9

The debtor who grants a mortgage is the mortgagee.

Accepted Answer

A) True 
 B)False

Question 10

Explain the concept of marketable title.

Accepted Answer

The law of conveyancing has firmly estab

Question 11

A restrictive covenant can bind only the original parties to it.

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

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 14

Ellen's driveway is actually on Richard's land, but in 20 years nobody has ever said anything to Ellen about it. 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, if she does not actually own the land 
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, if she does not actually own the land 
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 15

A title search guarantees rightful ownership.

Accepted Answer

A) True 
 B)False

Question 16

In a state that adopts the lien theory regarding mortgages, the borrower would have the right to:

Accepted Answer

A)  burn down the barn. 
B)  live on the land after default. 
C)  possess the land after foreclosure. 
D)  refuse to discharge a prior lien. 
A)  burn down the barn. 
B)  live on the land after default. 
C)  possess the land after foreclosure. 
D)  refuse to discharge a prior lien.

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

The time for conveyance of a deed is called the:

Accepted Answer

A)  zoning meeting. 
B)  closing. 
C)  title search. 
D)  recordation. 
A)  zoning meeting. 
B)  closing. 
C)  title search. 
D)  recordation.

Question 19

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

Accepted Answer

A)  seisen. 
B)  quiet enjoyment. 
C)  no encumbrances. 
D)  undisturbed possession. 
A)  seisen. 
B)  quiet enjoyment. 
C)  no encumbrances. 
D)  undisturbed possession.

Question 20

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.

Exam 49: Transfer and Control of Real Property

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

The warranty of habitability benefits only the original purchaser of a house.

If Bob'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.

The seller's warranty that he has marketable title to the land would be breached if the buyer discovers:

If Stan's land is condemned in order to build a subway system for the city, he must be given:

The original mortgagor and mortgagee can transfer their interests to assignees whose right and obligations will depend primarily on which of the following?

A majority of jurisdictions follow the common law rule that the risk of loss or destruction of real property rests with the seller until the deed is conveyed to the purchaser.

The debtor who grants a mortgage is the mortgagee.

Explain the concept of marketable title.

A restrictive covenant can bind only the original parties to it.

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

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

Ellen's driveway is actually on Richard's land, but in 20 years nobody has ever said anything to Ellen about it. 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 title search guarantees rightful ownership.

In a state that adopts the lien theory regarding mortgages, the borrower would have the right to:

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

The time for conveyance of a deed is called the:

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

Which of the following may transfer title to land?

Introduction to Law

Business Ethics and the Social Responsibility of Business

Civil Dispute Resolution

Constitutional Law

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

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Nature, Formation, and Powers

Financial Structure

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Fundamental Changes

Secured Transactions and Suretyship

Bankruptcy

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Employment Law

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Introduction to Property, Property Insurance, Bailments, and Documents of Title

Interests in Real Property

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the Legal Environment of Business

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