QUIZ 6 - DEEDS

which of the following would be in the position of "first lien" or "superior lien" a. 1911 assessment bond b. first trust deed c. homestead d. whichever was recorded first

a. 1911 assessment bond

it is common procedure to record all of the following instruments, except: a. a listing b. a grant deed c. a trust deed d. none of the above

a. a listing

which of the following would be at least necessary for a valid deed: a. acknowledgment b. delivery c. proper description of the property d. a grantee who is sufficiently identified though not named in the deed.

a. acknowledgment

a sworn declaration by a person adverse to taking an oath is :

an affirmation

an acknowledgement may be taken by a notary public who is:

an employee of a corporation who has executed and instrument being

an owner who deeds his property to a trustee to secure a loan is:

an equitable owner

both buyer and seller have signed a real property conditional sales contract, the effects of which would be

an equitable title passes to the buyer

if "A" sells a property to "B" and "B" takes possession but does not record his deed and subsequently "A" sells the property to "C" and "C" records his deed, who owns the property

"B"

Certain requirements are deemed essential in a declaration of homestead. Which of the following is not a requirement? (A) Statement that claimant is a married man; (B) Name of spouse, if any; (C) Statement that claimant is residing on the premises and claims it as a homestead; (D) A description of the property

(A) Statement that claimant is a married man;

The requisites of a grant deed when compared to a land contract of sale may differ with respect to: a. interest conveyed b. signature of the principle parties c. designation of purchase price d. all of the above

d. all of the above

a homestead exemption has no effect upon: a. a mortgage b. a trust deed c. a mechanics lien d. any of the above

d. any of the above

the grant or reservation of an unlocated easement when real property is conveyed is

valid

if the description in a grant deed were a street address, the deed would be:

valid, but uninsurable by a title company

Adams sold a property with a contract sale. Later he sold to Charles under a quit claim deed and assigned the contract but didnt inform Bronson. Bronson continued to stay in possession and pay Adams. Bronson paid off the contract and demanded title from Adams. Adams told him to look to Charles or the tittle but Charles refused to coney. In these circumstances:

Charles must convey title to Bronson

recorded title to real property was vested in Joan Beary, a single woman, after her marriage to Robert Roberts, she sold the property and executed a deed to the property only in the name of Joan Roberts, a married woman. This is discrepancy in the grantor's name is:

a defect which may cause a cloud on title

a first trust deed has a clause in it referring to a previously recorded instrument. that instrument would be:

a fictitious trust deed

If a seller wanted to relieve himself of the primary liability for payment of a trust deed and note, he must find a buyer who is willing to:

assume the trust deed and note liability

the beneficiary user a second trust deed caused a liened property to be sold at a trustee's sale. the proceeds of the sale were sufficient to pay the demands of the first an second trust deed holders, costs, fees and expenses, and to provide a small cash surplus. ordinarily, the cash proceeds would be distributed according would be distributed according to which of the following priority schedules : a. first trust deed: second trust deed; cost, fees and expenses of the sale: trustor b. costs, fees, and expenses of the sale: first trust deed; second trust deed: trustor c. trustor: first trust deed, second trust deed; costs, fees and expenses of the sale d. second trust deed: first trust deed; costs, fees and expenses of the sale: trustor

b. costs, fees, and expenses of the sale: first trust deed; second trust deed: trustor

which of the following statements concerning acknowledgment is true: a. a notary may acknowledge a deed to property he is purchasing b. deeds drawn and acknowledged out of state are valid c. acknowledgment is a requirement for the validity of a deed d. valid acknowledgment constitutes delivery of a deed

b. deeds drawn and acknowledged out of state are valid

the Solider's and Sailor's Civil Relief Act would apply to which of the following: a. Real Estate Commissioner b. parties to a trust deed c. land developer d. tax assessor

b. parties to a trust deed

baker buys a house from a contractor for all cash. a search of the records in the county recorder's office reveals that the following documents were recorded: 1-15-70 Grand Deed:Grantor - Small:Grantee - Baker 3-10-71 Trust Deed: Trustor - Baker: Beneficiary - Taylor 4-01-71 Lease: Lessor - Baker: Lease - Jones Last week there was a foreclosure sale which resulted in the title being vested in the beneficiary. on the basis of the information given, which of the following is now true: a. the trust deed was a purchase-money trust deed b. taylor can increase the rent c. jones can assign his rights d. there is no typographical error in the name of one of the parties to the transaction

b. taylor can increase the rent

which of the following statements is true concerning trust deed and note: a. the note is less important than the trust deed b. the lien of the trust deed is merely incidental to the debt c. when there is conflict in the provisions of the note and the trust deed regarding the maturity of the debt, the provisions of the trust deed will prevail d. the trust deed outlaws before the note

b. the lien of the trust deed is merely incidental to the debt

in order for a grant deed to be effective in transferring title to property in CA, it must

be delivered and acknowledged

a buyer defaulted on real property installment sales contract that had been recorded by the seller. if a quit claim deed were to be sued to extinguish the cloud on the title, it must be executed by:

buyer only

which of the following would be most likely to constitute a "cloud on the title" for real property a. an easement for utility wires b. zoning hat is adverse to the highest and best use of the land c. a recorded real property conditional or installment sale contract d. a "lock in" clause contained in a mortgage against the property

c. a recorded real property conditional or installment sale contract

Sam Martin purchased an unimprovedlot from Jack Davis and Martin did not record the deed. a few days later Davis sold the same lot to Williams, who, after searching the public records, recorded his deed. with respets to Martins deed, a court would decide which of the following: a. martins deed is valid and effective b. martins deed is invalid between Martin and Davis c. martins deed is invalid with respects to William's deed d. martins deed is valid, subject to recovery of payment from Williams

c. martins deed is invalid with respects to William's deed

which of the following deeds would least likely contain implied covenants by the grantor: a. grant deed b. warranty deed c. quit claim deed d. gift deed

c. quit claim deed

Sherman gives a quit claim deed to Warner for a parcel of real property. Warner does not record the deed. In this situations, which of the following is true: a. the deed is invalid as between Sherman and Warner b. the deed is invalid as between Sherman and Warner, but valid as to subsequent recorded interest c. the deed is valid as between Sherman and Warner but invalid as to subsequent recorded interest without notice d. the deed is valid as between Sherman and Warner, and valid as to subsequent recorded interests without notice

c. the deed is valid as between Sherman and Warner but invalid as to subsequent recorded interest without notice

When legal title is transferred as the result of the sale of real estate encumbered by a deed of trust, it is always necessary:

for the grantor to deliver a deed

documents recorded in the recorders office will give:

constructive notice to persons who have not seen records

which of the following clauses would allow the borrower to finance more money: a. subordination clause b. acceleration clause c. alienation clause d. add on clause

d. add on clause

when a blanket mortgage is placed upon a property and the "release schedule" is put into the mortgage showing the amount of the loan that must be paid off for each of the lots, those individual amounts would likely be proportionately larger for the first lots that are sold. the reason for this practice is: a. to increase the security value of the remaining lots b. to compensate for the loss of security, as the lots under the blanket encumbrance are removed c. to compensate for the loss of security due to the best lots being sold first d. all of the above

d. all of the above

which of the following persons would usually be in the weakest position against loss of property due to claim of title by an outside person: a. the holder of a recorded deed who rents the property b. the holder a certificate of title to property issued by a title company c. the holder of an unrecorded deed who occupies the property d. the holder of an unrecorded quit claim deed who does not occupy the property

d. the holder of an unrecorded quit claim deed who does not occupy the property

Smiths executes a deed to Brown and records it. Later, Smith seeks to set the conveyance aside, claiming that there has been no delivery to Brown. Why will he probably be unsuccessful in his effort?

delivery is presumed with recording

Mike and Mary Holland have fallen behind on the monthly payments due on their purchase-money deed of trust. the beneficiary is Bill Busby from whom the Holland's purchased the property. Busby bids on the property at the trustee's sale for the unpaid balance, turns his note and received a deed from the trustee. the Hollands redemption rights:

ended with the trustee's sale

Mr. Williams homestead his is residence on which there was a $22,000 first trust deed. Mrs. Williams did not sign the declaration of homestead. The value of the property was $39,000. Jim York filed a mechanics lien after the homestead was recorded. the lien was:

enforceable because mechanics liens take priority over homestead exemption

the main purpose of a deed is to:

evidence the change in title or transfer of an interest in real property

deed restrictions are usually established by:

grantor

the law requires the country recorder to index deeds by:

grantor and grantee

a straight note, which as the same term and interest rate would:

involve more interest than an installment note

Mrs. Smith, without her husbands knowledge, "homesteaded" their family dwelling. no prior "homestead" has been recorded by either spouse. the property had a first trust deed with a balance of $45,000 and was worth $60,000. a general creditor later obtained a judgment for $5,000. the judgment was:

not collectible since the wife's "homestead" was valid and the "homestead" exemption left no equity upon which to levy

unpaid real property taxes constitute a lien

prior to mortgage lien

when a trustee sells property under the power of sale provisions in a deed of trust, he must record a notice of default and wait at least three months before :

publishing the notice

a man bought a property with dilapidated on it. he had contractor tear down the building and level the ground. when the ground was practically level, he obtained a construction loan secured with a trust deed. after the building was completed, the painting contractor filed a mechanic's lien:

the mechanics lien would have priority, as work was started before the trust deed was recorded

in the recorder's office, what is necessary for acceptance of a deed to be recorded:

the name and address to which future tax statements are to be mailed