REL Chapter 3 & 4

3 characteristics of conveyance:

1. Real property interests can be complex 2. Land is enduring; ownership has a very long history 3. Describing land parcels is critical; all real property is bounded by other properties

3 covenants that distinguish the "quality" of deeds are:

1. Seizin, which promises grantor actual holds title 2. No encumbrances, which promises that there are no undisclosed encumbrances 3. Quiet enjoyment, which promises that no superior claim to title will appear

Property taxes are the principal source of revenue for:

Both local governments and school districts.

The authority for approving site plans for large projects ultimately rests with the:

City council or commission. (This is the elected governing body.)

Which of these marriage-related forms of co-ownership gives each spouse a one- half interest in any property that is "fruits of the marriage"?

Community property

Which of these is not a requirement of a valid deed?

Competent grantee

If a landowner sells the front part of a parcel of land, retaining the back portion as a "land-locked" parcel, and if there is an existing informal path across the front parcel to the back one, the seller is likely to retain the path as a (an):

Implied easement by prior use

Externalities in land use include all except:

Inability to judge the quality of a structure, once built.

Factors that make it uniquely difficult to establish clear title in real estate as compared to most personal property items include:

Length of the ownership history in real estate

Elements of traditional zoning include all except:

Performance Standards.

The most common form of legal description for urban residential property is the:

Plat lot and block number.

Zoning is an exercise of which type of general limitation on property rights?

Police power

If a neighboring land owner drives across a person's land openly and consistently for a number of years the neighbor may acquire an easement by:

Prescription

Which of these liens has the highest priority?

Property tax lien

A deed used mainly to clear up possible "clouds" or encumbrances to title (conflicting interests) is the:

Quitclaim deed

The most accurate conclusion about the regessivity of the property tax is that it is:

Regressive, but when benefits are considered, the net result is not regressive.

True or False: In a normal contract all parties must be legally competent, whereas in a deed only the grantor must be legally competent.

TRUE

Which of these forms of co-ownership could best be described as "normal ownership," except that multiple owners share identically in one bundle of rights?

Tenancy in common

Traditional land use controls (pre-1970) include:

Zoning, Building codes, and subdivision regulations

Any property interest not being conveyed to the grantee is state in the _______________ and ___________ clause.

exceptions and reservations

Every condominium buyer needs to know the details of which document(s):

-Condominium declaration -Bylaws

Timeshare programs can involve which of the following claims or interests?

-Fee simple ownership -Leasehold interest -License -Condominiums

Restrictive covenants for a subdivision usually can be enforced by:

-Subdivision residents -Lenders with mortgage loans in the subdivision

Radon gas is:

A naturally occurring result of geologic activity.

A comprehensive plan usually deals with which of the following elements?

All of the above. Including: -land uses -population -public services -natural resources

If documents conveying interests in real property are properly recorded in the public records, then they are binding or enforceable on all persons, regardless of whether those persons are aware of the documents, by the:

Doctrine of constructive notice

What is the highest quality deed?

General Warranty Deed. -Businesses often use to convey real estate is the bargain and sale deed. -A deed used mainly to relinquish ambiguous or conflicting claims is the quitclaim deed

The "highest quality" form of deed is the:

General warrantee deed

The interest being conveyed by a deed is specified in the:

Habendum clause

"New urbanism" is a term used to describe

The theory that residential and commercial uses should be integrated, streets and parking should discourage through traffic, and housing should be built close to the s

Which of these is a widely used form of "evidence of title

Title insurance commitment