WorksheetsPrinciples II Real Estate mini Quiz 24
Total questions: 15
Worksheet time: 11mins
When Ashlyn decided to sell her house to Grace, she needed to sign a legal document that transfers the title of the real estate to Grace. What is this document called?
Deed
Bill of Sale
Note
Receipt
Elmer is buying a house from Alex. When does the title to the real estate officially transfer to Elmer?
The deed is actually delivered
it is accepted by the grantee
both are required
Baron and Ella are going through a divorce and need to remove Ella from the title of their shared property. Which type of deed provides the grantee with the least protection, imposes the least liability on the grantor, and might be used in this situation?
quitclaim deed
general warranty deed
special warranty deed
deed without warranty
Clara is buying a house and wants to ensure she has the greatest protection against any future claims on the property. Which type of deed should she request?
General Warranty Deed
Special Warranty Deed
Quitclaim Deed
Elmer and Keira are discussing the process of buying a house. Elmer mentions that he needs to review the abstract of title before making a decision.
is an abbreviated history of a property
is a detailed view of the history of property
When Alex decided to sell his house, he made sure all the necessary documents were filed and accessible to the public. What concept applies to this situation?
constructive notice
actual notice
Match the following Fee Simple Estates
Highest type of interest
Fee Simple Estate
ends automatically and immediately upon the occurrence of a designated event
Fee Simple Determinable
previous owner would have to go to court to prove that they should be the owner again
Subject to Condition Subsequent
Match the following
the process and act of transferring property from one party to another.
Alienation
property is transferred from the current owner to another party either by sale or gift
Voluntary Alienation
taking of an owner’s property without their consent
Involuntary Alienation
An owner who does not use their land or does not inspect it for a number of years may lose the title to another person
Adverse Possession
Match the following Easements
Implied easement granted after the dominant estate has used the property in a hostile, continuous, and open manner
Easement by prescription
An individual or company that does not own the land is allowed to be on the owner's property for specific purposes
Easement in gross
Created when an owner sells a portion of their land that cannot be accessed unless by crossing the seller's remaining land
Easement by necessity
When Arden's long lost 3rd cousin passed away without leaving a will, what is this situation called?
Testate
Intestate
Grace is making a deed. She drafts the deed, has a lawyer look over and approve the deed, signs the deed, and delivers the deed to Davis, the grantee. When does the title officially pass to Davis?
when the lawyer approves the deed
when Grace signs the deed
when Grace drafts the deed
when the deed is delivered to and accepted by Davis
When Makenzie purchased a new home, what serves to protect the lender from unknown existing defects on the title?
owner's title policy
Torrens System
lender's title policy
chain of title
When Hannah purchased her first home, what was the primary purpose of recording the deed?
To provide public notice of ownership
To ensure the deed is legally binding
To transfer the title to the grantee
To verify the accuracy of the deed
Hannah is preparing to transfer her property to Ally and wants to ensure the deed is valid. Which of the following is NOT a requirement for a valid deed?
Signature of the grantor
Consideration
Legal description of the property
Witnesses
Ally is transferring her property to Keira using a quitclaim deed. What is the effect of this deed on Ally's liability?
It increases Ally's liability
It eliminates Ally's liability
It has no effect on Ally's liability
It transfers liability to Keira
