Exam 49: Transfer and Control of Real Property

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 the following:

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

The traditional common law rule regarding the sale of property is caveat emptor which means, "let the seller beware."

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 abandons use of the driveway. Will she have to move her driveway?

Jack lived in a block with two-family homes. He finished his third floor for his family and when his children left home, he wanted to rent the floor as an apartment. The town enacted a zoning ordinance restricting occupancy of the building to a maximum of two unrelated families. Jack's best argument for waiving the ordinance is:

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

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.

Deeds must describe the land conveyed, describe the estate conveyed, and indicate the consideration received by the grantor.

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

A real estate conveyance is governed by the:

a. What public restrictions can be placed upon the use of land? Explain. b. What private restrictions can be placed upon the use of land? Explain.

If Russell'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.

Title insurance protects an owner of real property from losses due to defects in title and undisclosed liens or encumbrances.

A title search involves examining prior transfers of and encumbrances to the 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:

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

The right of redemption would require:

Jesse purchases Erica's house and in so doing assumes the mortgage. Which of the following is true?

In most states, it is not necessary to record a deed for title to pass to the grantee.

An uncommon but possible way to obtain title to property is by adverse possession.