Real Estate Principles II - 12 & 13

A ______ is a legal document that transfers a title of real estate from one party to another.

• Deed

• Bill of Sale

• Note

• Receipt

A title to real estate does not pass or transfer until:

• The deed is actually delivered

• it is accepted by the grantee

• both are required

Which type of deed provides the grantee with the least protection, imposes the least liability on the grantor, and might be used for adding or removing a spouse from title due to marriage or divorce?

• • quitclaim deed

• • general warranty deed

• • special warranty deed

• • deed without warranty

Provides the greatest protection

• General Warranty Deed

• Special Warranty Deed

• Quitclaim Deed

In the world of real estate, what is a title?

• • the bundle of ownership rights to a property

• • a document used to transfer a property to another party

A title policy will most likely insure against:

• • an outstanding tax lien

• • hurricane damage

• • an electrical fire

• • mold remediation

• abstract of title

• is an abbreviated history of a property

• is a detailed view of the history of property

If the property owner's interests have been made available to the world, what concept applies?

• • constructive notice

• • actual notice

A "Cloud" on the title is

• a missing link or gap in the chain of title

• means the title is rock solid and secure

Match the following

• 10 acres

• Actual Notice

• searching the public records

• Constructive Notice

• direct or first hand knowledge

• Rural Estates

• 100 acres

• Urban Estates