Exam 50: Transfer and Control of Real Property

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

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:

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

Delivery of a deed may be made by giving it to a third party to hold until the grantee performs certain conditions.

Which of the following is true of restrictive covenants?

Latosha grants a quitclaim deed to some property to Glenn.Now Glenn has found that someone else has a life estate in the land.Latosha has breached the warranty of title.