Question 1

The doctrine declaring that the mortgagee's interest in the property is limited to the amount of the outstanding obligation is known as:

Accepted Answer

A) adverse possession. 
B) the title theory. 
C) the lien theory. 
D) equity of redemption. 
A) adverse possession. 
B) the title theory. 
C) the lien theory. 
D) equity of redemption.

Question 2

Sam has agreed to sell a warehouse to Jordan for $150,000.The contract says that Sam will convey to Jordan whatever interest he has in the property,but does not state that he has any interest.Jordan is entitled to a(n):

Accepted Answer

A) insurable deed. 
B) quitclaim deed. 
C) general warranty deed. 
D) special warranty deed. 
A) insurable deed. 
B) quitclaim deed. 
C) general warranty deed. 
D) special warranty deed.

Question 3

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 the above. 
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 the above.

Question 4

A typical enabling statute grants municipalities all but which of the following powers? The power to:

Accepted Answer

A) regulate the bulk of buildings to be erected. 
B) divide the entire municipality into districts of such number and shape as may be deemed best. 
C) determine the area of open spaces within buildings. 
D) All of the answer choices are typical powers granted by enabling statutes. 
A) regulate the bulk of buildings to be erected. 
B) divide the entire municipality into districts of such number and shape as may be deemed best. 
C) determine the area of open spaces within buildings. 
D) All of the answer choices are typical powers granted by enabling statutes.

Question 5

A deed of trust is almost identical to a warranty deed.

Accepted Answer

A) True 
 B)False

Question 6

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

Accepted Answer

a.Public restrictions on the use of land

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

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?

Accepted Answer

A) Yes, if she does not actually own the land. 
B) Yes, since it is not in her deed. 
C) Not if she used it continuously. 
D) Not if she got permission from Richard. 
A) Yes, if she does not actually own the land. 
B) Yes, since it is not in her deed. 
C) Not if she used it continuously. 
D) Not if she got permission from Richard.

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

A mortgage creates a security interest in real property.

Accepted Answer

A) True 
 B)False

Question 11

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 12

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

Accepted Answer

A) True 
 B)False

Question 13

In most states,eminent domain would permit taking of privately owned land for all the following purposes except:

Accepted Answer

A) constructing a railroad bridge over a river. 
B) building senior citizens' home. 
C) building a discount store. 
D) building a post office. 
A) constructing a railroad bridge over a river. 
B) building senior citizens' home. 
C) building a discount store. 
D) building a post office.

Question 14

If Stan's land is condemned in order to build a subway system for the city,he must be given:

Accepted Answer

A) the fair market value of the property as of the time of the taking. 
B) equivalent property. 
C) the option of keeping the property. 
D) his price for the property. 
A) the fair market value of the property as of the time of the taking. 
B) equivalent property. 
C) the option of keeping the property. 
D) his price for the property.

Question 15

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

Accepted Answer

A) True 
 B)False

Question 16

Discuss the types of deeds that can be used to transfer title.

Accepted Answer

Warranty deeds,special warranty deeds,an

Question 17

A deed containing a number of promises including covenant of title,quiet enjoyment,against encumbrances,and warranty are found in a:

Accepted Answer

A) warranty deed. 
B) guarantee deed. 
C) quitclaim deed. 
D) general deed. 
A) warranty deed. 
B) guarantee deed. 
C) quitclaim deed. 
D) general deed.

Question 18

Most zoning ordinances provide that a nonconforming use may be terminated:

Accepted Answer

A) immediately. 
B) after 6 months of the structure's future useful life. 
C) when a nonconforming structure is destroyed or substantially damaged. 
D) All of the above. 
A) immediately. 
B) after 6 months of the structure's future useful life. 
C) when a nonconforming structure is destroyed or substantially damaged. 
D) All of the above.

Question 19

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 the above. 
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 the above.

Question 20

In a notice-race state:

Accepted Answer

A) an unrecorded deed is invalid against any subsequent purchaser without notice of who recorded first. 
B) unrecorded deeds are invalid against any subsequent purchaser without notice. 
C) an unrecorded deed is invalid against any deed recorded before it. 
D) a recorded deed is invalid against a subsequent purchaser who records. 
A) an unrecorded deed is invalid against any subsequent purchaser without notice of who recorded first. 
B) unrecorded deeds are invalid against any subsequent purchaser without notice. 
C) an unrecorded deed is invalid against any deed recorded before it. 
D) a recorded deed is invalid against a subsequent purchaser who records.

Exam 49: Transfer and Control of Real Property

The doctrine declaring that the mortgagee's interest in the property is limited to the amount of the outstanding obligation is known as:

Sam has agreed to sell a warehouse to Jordan for $150,000.The contract says that Sam will convey to Jordan whatever interest he has in the property,but does not state that he has any interest.Jordan is entitled to a(n):

Adverse possession:

A typical enabling statute grants municipalities all but which of the following powers? The power to:

A deed of trust is almost identical to a warranty deed.

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

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

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?

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

A mortgage creates a security interest in real property.

Which of the following is INCORRECT regarding zoning?

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

In most states,eminent domain would permit taking of privately owned land for all the following purposes except:

If Stan's land is condemned in order to build a subway system for the city,he must be given:

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

Discuss the types of deeds that can be used to transfer title.

A deed containing a number of promises including covenant of title,quiet enjoyment,against encumbrances,and warranty are found in a:

Most zoning ordinances provide that a nonconforming use may be terminated:

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

In a notice-race state:

Introduction to Law

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