Question 1

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

Accepted Answer

A) True 
 B)False  True

Question 2

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

Accepted Answer

A) True 
 B)False  True

Question 3

The transfer of real estate requires consideration to be valid.

Accepted Answer

A) True 
 B)False  False

Question 4

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.

Accepted Answer

A) True 
 B)False

Question 5

An enabling statute:

Accepted Answer

A)  delegates the power to zone to local city and village authorities. 
B)  typically allows municipalities to regulate and limit building heights. 
C)  typically grants the power to limit the intensity of use in a particular area. 
D)  All of these statements are true. 
A)  delegates the power to zone to local city and village authorities. 
B)  typically allows municipalities to regulate and limit building heights. 
C)  typically grants the power to limit the intensity of use in a particular area. 
D)  All of these statements are true.

Question 6

If Nate gives a warranty deed to Carla, it includes Nate's promise that he will be liable to Carla for any defects in title.

Accepted Answer

A) True 
 B)False

Question 7

When a contract involving the sale of real estate calls for the delivery of the deed in return for the purchase price on a certain day, this performance is known as:

Accepted Answer

A)  foreclosure. 
B)  warranty deed day. 
C)  contract day. 
D)  the closing. 
A)  foreclosure. 
B)  warranty deed day. 
C)  contract day. 
D)  the closing.

Question 8

A deed of trust differs from a mortgage in that the former conditionally conveys the property to a trustee for the benefit of the creditor.

Accepted Answer

A) True 
 B)False

Question 9

Title to land may be transferred by which of the following?

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 10

The usual method of enforcing a restrictive covenant is by specific performance.

Accepted Answer

A) True 
 B)False

Question 11

Restrictive covenants are strictly construed against the party asserting their applicability.

Accepted Answer

A) True 
 B)False

Question 12

The debtor who uses real estate to secure an obligation is the mortgagee.

Accepted Answer

A) True 
 B)False

Question 13

An instrument representing an interest in real property created to secure repayment of the debt is called a:

Accepted Answer

A)  warranty deed. 
B)  foreclosure. 
C)  mortgage. 
D)  default judgment. 
A)  warranty deed. 
B)  foreclosure. 
C)  mortgage. 
D)  default judgment.

Question 14

Many jurisdictions now require all sellers to disclose hidden defects that materially affect the property's value if reasonable examination would not reveal such defects.

Accepted Answer

A) True 
 B)False

Question 15

Adverse possession:

Accepted Answer

A)  is an involuntary transfer of title. 
B)  is an illegal transfer of title. 
C)  allows a person a chance to retrieve their mortgage. 
D)  None of these statements is accurate. 
A)  is an involuntary transfer of title. 
B)  is an illegal transfer of title. 
C)  allows a person a chance to retrieve their mortgage. 
D)  None of these statements is accurate.

Question 16

There are three major types of deeds.

Accepted Answer

A) True 
 B)False

Question 17

Anders Builders builds and sells new residences. According to the law in all states, Anders impliedly warrants to the original purchasers and to subsequent buyers for a reasonable time that the houses are free of latent defects.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is INCORRECT regarding zoning?

Accepted Answer

A)  Zoning restrictions can be used to regulate, but not to take, private property. 
B)  A variance permits an otherwise impermissible use of the property. 
C)  A zoning ordinance needs no reasonable relationship to public health, safety, or morals to be upheld. 
D)  A nonconforming use may be permitted where property was so used prior to adoption of the zoning ordinance. 
A)  Zoning restrictions can be used to regulate, but not to take, private property. 
B)  A variance permits an otherwise impermissible use of the property. 
C)  A zoning ordinance needs no reasonable relationship to public health, safety, or morals to be upheld. 
D)  A nonconforming use may be permitted where property was so used prior to adoption of the zoning ordinance.

Question 19

Which of the following is NOT essential to a valid deed?

Accepted Answer

A)  Grantor. 
B)  Grantee. 
C)  Delivery. 
D)  Recording. 
A)  Grantor. 
B)  Grantee. 
C)  Delivery. 
D)  Recording.

Question 20

Judah  assumes the mortgage when she  purchases Erick's house. Which of the following is true?

Accepted Answer

A)  Only Judah is personally liable to pay the mortgage. 
B)  Only Erick is personally liable to pay the mortgage. 
C)  Erick and Judah are both personally liable to pay the mortgage. 
D)  Erick is liable only if Judah defaults on paying the mortgage. 
A)  Only Judah is personally liable to pay the mortgage. 
B)  Only Erick is personally liable to pay the mortgage. 
C)  Erick and Judah are both personally liable to pay the mortgage. 
D)  Erick is liable only if Judah defaults on paying the mortgage.

Exam 49: Transfer and Control of Real Property

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

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

The transfer of real estate requires consideration to be valid.

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.

An enabling statute:

If Nate gives a warranty deed to Carla, it includes Nate's promise that he will be liable to Carla for any defects in title.

When a contract involving the sale of real estate calls for the delivery of the deed in return for the purchase price on a certain day, this performance is known as:

A deed of trust differs from a mortgage in that the former conditionally conveys the property to a trustee for the benefit of the creditor.

Title to land may be transferred by which of the following?

The usual method of enforcing a restrictive covenant is by specific performance.

Restrictive covenants are strictly construed against the party asserting their applicability.

The debtor who uses real estate to secure an obligation is the mortgagee.

An instrument representing an interest in real property created to secure repayment of the debt is called a:

Many jurisdictions now require all sellers to disclose hidden defects that materially affect the property's value if reasonable examination would not reveal such defects.

Adverse possession:

There are three major types of deeds.

Anders Builders builds and sells new residences. According to the law in all states, Anders impliedly warrants to the original purchasers and to subsequent buyers for a reasonable time that the houses are free of latent defects.

Which of the following is INCORRECT regarding zoning?

Which of the following is NOT essential to a valid deed?

Judah assumes the mortgage when she purchases Erick's house. Which of the following is true?

Introduction to Law

Business Ethics

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

Introduction to Sales and Leases

Performance

Transfer of Title and Risk of Loss

Product Liability Warranties and Strict Liability

Sales Remedies

Form and Content

Transfer and Holder in Due Course

Liability of Parties

Bank Deposits Collections and Funds Transfers

Relationship of Principal and Agent

Relationship With Third Parties

Formation and Internal Relations of General Partnerships

Operation and Dissolution of General Partnerships

Limited Partnerships and Limited Liability Companies

Nature and Formation of Corporations

Financial Structure of Corporations

Management Structure of Corporations

Fundamental Changes of Corporations

Secured Transactions and Suretyship

Bankruptcy

Securities Regulation

Intellectual Property

Employment Law

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Consumer Protection

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International Business Law

Introduction to Property Property Insurance Bailments and Documents of Title

Interests in Real Property

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