Exam 3: Conveying Real Property Interests
Exam 1: The Nature of Real Estate and Real Estate Markets20 Questions
Exam 2: Legal Foundations to Value26 Questions
Exam 3: Conveying Real Property Interests20 Questions
Exam 4: Government Controls and Real Estate Markets27 Questions
Exam 5: Market Determinants of Value20 Questions
Exam 6: Forecasting Ownership Benefits and Value: Market Research20 Questions
Exam 7: Valuation Using the Sales Comparison and Cost Approaches23 Questions
Exam 8: Valuation Using the Income Approach22 Questions
Exam 9: Real Estate Finance: The Laws and Contracts21 Questions
Exam 10: Residential Mortgage Types and Borrower Decisions25 Questions
Exam 11: Sources of Funds for Residential Mortgages21 Questions
Exam 12: Real Estate Brokerage and Listing Contracts20 Questions
Exam 13: Contracts for Sale and Closing21 Questions
Exam 14: The Effects of Time and Risk on Value21 Questions
Exam 15: Mortgage Calculations and Decisions20 Questions
Exam 16: Commercial Mortgage Types and Decisions23 Questions
Exam 17: Sources of Commercial Debt and Equity Capital25 Questions
Exam 18: Investment Decisions: Ratios20 Questions
Exam 19: Investment Decisions: NPV and IRR20 Questions
Exam 20: Income Taxation and Value23 Questions
Exam 21: Enhancing Value Through Ongoing Management20 Questions
Exam 22: Leases and Property Types25 Questions
Exam 23: Development: The Dynamics of Creating Value20 Questions
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A contract for sale of real estate usually calls for the seller to provide evidence of title as a requisite to completing the sale.Today,the predominant medium through which a seller meets this requirement is by providing:
Free
(Multiple Choice)
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Correct Answer:
C
The covenants in a deed are the most important differences among types of deeds.Which of the following covenants promises that the grantor truly has good title and the right to convey it?
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(Multiple Choice)
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Correct Answer:
A
Initially used to survey the Old Northwest Territory (Ohio,Indiana,Illinois,and Michigan)in 1789,which of the following methods of land description relies on townships and section numbers as essential units of identification?
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(Multiple Choice)
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Correct Answer:
C
An owner of land may involuntarily and unknowingly give up the rights to land.When a fee simple interest is conveyed to a new owner without a deed and without the consent or knowledge of the original owner,this is said to be conveyed by:
(Multiple Choice)
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Most often used in the description of urban property,which of the following methods of land description contains information regarding the location of various easements and may even contain a list of restrictive covenants?
(Multiple Choice)
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The type of deed offered by the grantor is communicated through a phrase such as "does herby grant,bargain,sell and convey unto ..." This clause is referred to as the:
(Multiple Choice)
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A deed is a special form of written contract used to convey a permanent interest in real property.Unlike most contracts,a deed requires:
(Multiple Choice)
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Unlike other forms of evidence of title,title insurance guards the grantee against certain risks.However,there are a number of important limits to title insurance.Which of the following is an example of the limits to title insurance?
(Multiple Choice)
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At the death of a property owner,property will convey either in accordance with a will or without a will.If a will dictates the distribution of the decedent's real property,the property is said to be conveyed by:
(Multiple Choice)
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One of the most important requirements of a land description is for it to be unambiguous.Which of the following methods of property description is the most unambiguous and is appropriate for use in legal documents?
(Multiple Choice)
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The most flexible method of land description,capable of describing even the most irregular of parcels,can be described as a very precise,compass-directed walk around the boundary of a parcel.This method is commonly referred to as:
(Multiple Choice)
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Considered a "questionable conveyance of title" by most courts,which of the following types of deeds is worded to imply no claim of title,but rather only convey what interest the grantor actually has? (Hint: This type of deed may be used by a developer to convey certain lands of a subdivision to the local government through dedication. )
(Multiple Choice)
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While several kinds of real property conveyances result from events beyond the control of the grantor,the majority of conveyances are voluntary through a deed.Which of the following is an example of a voluntary conveyance of real property with a deed?
(Multiple Choice)
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Recognizing that only recent conveyances alter the status of title,states have established laws that set limits on how far back a title search must go.These laws are commonly referred to as:
(Multiple Choice)
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When a landowner subdivides land in a way that causes a parcel to be landlocked,it is possible for property to be voluntarily conveyed without a deed.If the landlocked parcel has no prior path of access,which of the following types of easements will automatically be created to make the land useful?
(Multiple Choice)
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Which of the following clauses contained in a deed defines or limits the type of interest being conveyed?
(Multiple Choice)
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Although deeds can only deliver what a grantor actually owns,they can still vary in "quality." Which of the following types of deeds is considered to be the "highest quality" because it contains the full set of legal promises the grantor can make?
(Multiple Choice)
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Once a document conveying an interest in real property is placed in the public records it is binding on the public,whether or not they make an effort to learn of it.Based on the common law tradition,this policy is known as the:
(Multiple Choice)
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While the vast majority of conveyances of real property are private grants through a deed,there are multiple ways in which voluntary conveyance can occur without a deed.Which of the following types of easements can occur if a landowner gives an adjacent landowner permission to depend on her land? (E.g.A landowner may give a neighbor permission to rely on sewer access or drainage across his or her land. )
(Multiple Choice)
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A law requiring any contract conveying a real property interest to be in writing in order to be enforceable is a modern application of the:
(Multiple Choice)
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