Exam 50: Transfer and Control of Real Property

Foreclosure is an action through which the mortgage holder takes the property from the mortgagor, ends the mortgagor's rights in the property, and sells the property to pay the mortgage debt.

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

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

An oral agreement for the sale of land is enforceable under the statute of frauds.

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

A right of redemption of a mortgage cannot be defeated by operation of law.

A warranty deed by Jeff to Paula includes Jeff's promise that he will be liable to Paula for any defects in title.

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

The right of redemption would require:

To be effective, title to land may transferred only by deed.

Adverse possession, requires no:

Title insurance is unnecessary if a title search is made.

Explain the difference between the lien theory and the title theory in relation to mortgages.

A deed ordinarily contains all of the following except:

A title search guarantees rightful ownership.

Which of the following are the most usual covenants to convey title of realty?

Because documents affecting ownership of property are recorded, a chronological record of transactions concerning the property can be obtained by a(n):

All states have adopted the Uniform Real Property Electronic Recording Act, which permits the electronic filing and retrieval of real property instruments, such as deeds and mortgages.

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

State laws enabling local authorities to require municipality approval of every land subdivision plat: