CRES Chapter 9

A special warranty deed differs from a general warranty deed in that the grantor's covenant in the special warranty deed: A. Applies only to a definite limited time B. Covers the time back to the original title C. Is implied and is not written in full D. Protects all subsequent owners of the property

A. Applies only to a definite limited time

A valid will devises the decedent's real estate after the payment of all debts, claims, inheritance taxes and expenses through the: A. executor or administrator of the estate. B. law of testate succession. C. granting clause established in the will. D. court action known as probate

A. executor or administrator of the estate

A deed must be signed by the: A. Grantor B. Grantee C. grantor and grantee. D. grantee and two witnesses.

A. grantor

Fred bought acreage in a distant county, never went to see it, and did not use it, although he regularly paid the real estate taxes on it. Lucy moved her mobile home onto Fred's property, drilled a well for water, and lived there for many years. Lucy may have become the owner of the acreage if she has complied with the state laws regarding: A. Intestate succession B. Adverse possession C. The statute of frauds D. The doctrine of prior appropriation

B. Adverse possession

Which of the following deeds contain no expressed or implied warranties? A. A bargain and sale deed B. A quitclaim deed C. A warranty deed D. A grant deed

B. a quitclaim deed

An outstanding claim or encumbrance which, if valid, would impair an owner's title is referred to as: A. color of title. B. cloud on the title. C. quiet title. D. subrogation

B. cloud on the title

The title to real estate passes when a valid deed is: A. Signed and recorded B. Delivered and accepted C. Filed and microfilmed D. Executed and mailed

B. delivered and accepted

A single person owned a parcel of land. After the owner's death the probate court determined the distribution of the land in accordance with the states' statutes. This person: A. died testate. B. died intestate. C. was the devisee. D. was the grantee.

B. died interstate

The reversion of real estate to the county because of its lack of heirs or other persons legally entitled to own the property is: A. Eminent domain B. Escheat C. Attachment D. Estoppe

B. escheat

Documents affecting real estate are recorded or filed with the county in which the property is located to: A. satisfy the legal requirements for recording. B. give constructive notice of the real estate interest. C. comply with the terms of the statute of frauds. D. prove the execution of the document.

B. give constructive notice of real estate interest

Two people own a farm as joint tenants with right of survivorship. One of the tenants dies intestate. The other tenant now owns the farm: A. As a joint tenant with right of survivorship B. In severalty C. in absolute ownership under the law of descent D. Subject to the terms of the deceased's will

B. in severalty

A buyer took delivery of the deed to his new house but forgot to record the deed. Under these circumstances: A. The transfer of the property from the seller is ineffective B. The buyers Interest is not fully protected against third parties C. The deed in invalid after 90 days D. The deed is invalid after 6 month

B. the buyers interest is not fully protected against third parties

What will happen to the real estate if the deceased owner did not write a will and has no heirs? A. The ownership will pass by devise. B. The ownership will escheat. C. The courts will seize the ownership. D. The ownership will revert to the previous owner.

B. the ownership will escheat

All of the following are true about adverse possession EXCEPT: A. the person taking possession of the property must do so without its owner's consent. B. the person taking possession must compensate the owner at the end of the possessory period. C. occupancy of the property must be continuous over a specified period of time. D. the person taking possession may become the owner of the property.

B. the person taking possession must compensate the owner at the end of the possessory period

The primary purpose of a deed is to: A. Prove ownership B. Transfer title rights C. Give constructive notice D. Prevent adverse possession

B. transfer title rights

Which of the following BEST describes a chain of title? A. A condensed history of title ownership B. Evidence of title C. A list of successive owners of the property up to the present D. A marketable title

C. A list of successive owners of the property up to the present

All of the following would be considered evidence of marketable title EXCEPT a(n): A. Abstract of title with a legal opinion B. Title commitment or title insurance policy C. Certificate of title by a real estate broker D. Certificate of title by a real estate attorney

C. Certificate of title by a real estate broker

Which of the following would be used to clear a defect from the title records? A. A lis pendens B. An estoppel certificate C. A suit to quiet title D. A writ of attachment

C. a suit to quiet title

All of the following would give constructive notice EXCEPT: A. recording documents at the court house. B. legal notice in the newspaper. C. an unrecorded mechanic's lien. D. physical possession of the property

C. an unrecorded mechanic's lien

Title to real estate that is inherited from a person who died testate is referred to as a: A. legacy. B. bequest. C. devise. D. demise

C. devise

The type of deed in which the granting clause states "convey and warrant' is a: A. quitclaim deed. B. bargain and sale deed. C. general warranty deed. D. Re-conveyance deed.

C. general warranty deed

Which of the following is an example of involuntary alienation? A. Selling a property to pay off debts B. Giving a piece of land to the zoo C. Having a piece of land sold for delinquent taxes D. Letting another person plant crops on an unused portion of a piece of land

C. having a piece of land sold for delinquent taxes

When the grantor does not wish to convey certain property rights, he or she: A. must note the exceptions in a separate document. B. may not do so, as the deed conveys the entire premises. C. may note the exceptions in the deed of conveyance. D. must convey the entire premises and have the grantee re-convey the rights to be retained by the grantor.

C. may note the exceptions in the deed of conveyance

A bill of sale is used to transfer the ownership of: A. Real property B. Fixtures C. Personal property D. Appurtenances

C. personal property

The best assurance of good title that a real estate purchaser can obtain is a(n): A. valid warranty deed signed by the seller. B. valid quitclaim deed signed by the seller. C. title insurance policy. D. certificate of title

C. title insurance policy

What is the purpose of the acknowledgment by a notary public on a deed? A. To make the deed eligible for recording B. To assure that the title is valid C. To show the genuineness of the grantor's signature D. To prove that the property has not been encumbered

C. to show the genuinesness of the grantors signature

Under the terms of a trust established by a will, the trustee is required to sell the real estate the trust holds. The deed that will be delivered at settlement is a: A. deed of release. B. warranty deed. C. trustee's deed. D. trustor's deed

C. trustee's deed

The recorded history of matters that affect the title to a specific parcel of real property is its: A. chain of title. B. certificate of title. C. title insurance policy D. abstract of title.

D. abstract of title.

The condemnation of private property for public use is exercised under the government right of: A. taxation. B. escheat. C. prior appropriation. D. eminent domain.

D. eminent domain

All of the following are required under Illinois law for a deed to be valid, EXCEPT: A. grantee's present address. B. grantor's signature. C. recital of consideration. D. grantee's signature.

D. grantee's signature

The part of the title insurance policy that sets forth all of the encumbrances and defects that will not be insured against is called the: A. schedule of defects. B. citation clause. C. Non-exclusionary clause. D. schedule of exclusions

D. schedule of exclusions

All of the following are required for a deed to be valid EXCEPT the: A. date. B. legal description. C. name of the grantee. D. signature of the grantee

D. signature of the grantee

The law that requires transfer of real property ownership to be in writing is the: A. Parole evidence rule B. Statute of limitations C. Rule of Civil procedure D. Statute of frauds

D. statue of frauds

When a claim is settled by a title insurance company, the company acquires all rights and claims of the insured against any other person who is responsible for the loss. This is known as: A. caveat emptor. B. surety bonding. C. subordination. D. subrogation.

D. subrogation

Generally, if some defect is found in the title to real property, the effect on a sales contract is that: A. the contract is immediately void. B. a new contract must be written. C. the buyer has a reasonable time to find another property. D. the seller has a reasonable time to correct the defect.

D. the seller has a reasonable time to correct the defect

A document that protects against hidden risks such as forgeries and loss due to defects in the title, subject to specific exceptions, is called a(n): A. Chain of title B. Abstract of title C. Certificate of title D. Title insurance policy

D. title insurance policy

A third party holds title to property on behalf of someone else through the use of a: A. Devise B. Quitclaim C. Bequest D. Trust deed

D. trust deed