Rights, Interests, Estates, and Ownership Pt3

Front

What legal power enables a municipality to acquire privately owned land for a sewage treatment facility against the owners' wishes? Options: Estoppel, Escheat, Alienation, Eminent domain.

Back

Eminent domain.

Front

An adverse possessor must be able to successfully demonstrate that he or she has been:

Back

openly possessing and claiming the property without the owner's consent.

Front

A buyer has signed a contract to purchase a property, but is uncertain of the condition of the title. Which party is legally responsible for knowing the condition of the title? Options: The County Recorder., The seller's agent., The buyer., The mortgage lender.

Back

The buyer.

Front

A break in the chain of title to a property results in

Back

a clouded title.

Front

Wayne and Leota obtain an insurance policy that protects them from liabilities and losses resulting from title defects. The kind of policy they bought is a

Back

standard owner's title insurance policy.

Front

An owner transfers title to a property to a buyer in exchange for a motorcycle. This is an example of

Back

voluntary alienation.

Front

A person wishes to convey any and all interests in a property to another without assurance of the property's marketability. This party would most likely use which type of deed?

Back

A quitclaim deed.

Front

If Jennifer, who owns a one-half interest in a condominium as a tenant in common with her business partner, dies without a will, what will happen to the property?

Back

The property will pass to the heirs by the laws of descent and distribution.

Front

A drifter secretly lives in an abandoned shack on a large ranch property. After twenty years, the person makes a claim of ownership to the shack and the land immediately surrounding it that he had cleared. This claim will likely be

Back

declined because possession was secretive.

Front

To be marketable, title must be

Back

free of undisclosed defects and encumbrances.