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PRII Ch 27

Authored by Stephanie Dangelo

Professional Development

12th Grade

Used 4+ times

PRII Ch 27
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best describes the concept of "legal title" to real estate?"

Ownership of the bundle of rights to real estate
The right of a buyer or lender to obtain ownership under certain circumstances certain circumstances
Possession of a deed
Absolute proof of ownership of real estate

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A person claims ownership of a parcel of real estate to a prospective buyer, stating that she has lived on the property for five years and nobody has ever bothered her. The claimant also shows the buyer a copy of the deed. The legal basis of this claim is referred to as

prescriptive notice.
constructive notice.
hostile notice.
actual notice.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Constructive notice of ownership of a parcel of real estate is primarily demonstrated through

direct inspection to see who is in possession.
title insurance.
title records.
a construction permit.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

voluntary alienation.
escheat.
hypothecation
estoppel.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For a deed to convey title, it is necessary for the deed to be

on a standard form
certified by the grantor.
accepted by the grantee.
signed by the grantee.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The only required clause in a deed of conveyance is one that

states restrictions and limitations to the estate being conveyed.
states the parties and the type of estate being conveyed.
states that the grantor has done nothing to impair title to the property being conveyed.
states the grantor's intention, names the parties, describes the property, and indicates a consideration.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The purpose of a covenant clause in a deed of conveyance is to

state the grantor's assurance or warrant to the grantee that a certain condition or fact concerning the property is true.
state the grantee's promise to use the property in a prescribed manner.
warrant that the grantor has never encumbered title.
describe the consideration that the grantee promises to give in return for title.

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