Exam 49: Transfer and Control of Real Property

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

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

Which of the following is INCORRECT regarding zoning?

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

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

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:

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

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

Giving a deed to an escrow agent may be sufficient delivery of a deed.

One common type of restrictive covenant restricts the use of property to residential purposes.

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

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

Foreclosure may be exercised only by sale under judicial decree.

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

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

The validity of zoning is based on the police power reserved to the states.

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

If a zoning restriction causes a financial loss to a property owner, this amounts to a taking of property and the local government will have to compensate the landowner for his loss.

Which of the following is not true regarding the warranty of habitability?

If there is a defect in title, the courts will not allow the buyer to refuse to go through with the purchase.