CH. 10

What situations require a legal description?

A legal description is required for: Public recording Creating a valid deed of conveyance or lease Completing mortgage documents Executing and recording other legal documents

A deed of conveyance occurs when The owner dies. A foreclosure occurs. A government entity grants the property to a private party. A living owner makes a private grant.

A living owner makes a private grant.

The special warranty covenant "I may or may not own, and I won't defend" is part of which type of deed? A warranty deed A bargain and sale deed with covenants A bargain and sale deed without covenants A quitclaim deed

A quitclaim deed

In the rectangular survey method, how large is a township in square miles and how large is a township section?

A township is 36 square miles and a section is one square mile or 640 acres.

A devisee is the Female maker of a will Male maker of a will Property being transferred by a will Beneficiary of a will

Beneficiary of a will

Which of the following is NOT a process by which involuntary alienation occurs? Death of the owner Government eminent domain Lender foreclosure Adverse possession

Death of the owner

What is the type of statutory deed that contains the most complete protection for the grantee? Guardian's deed Special warranty deed Full covenant and warranty deed Quitclaim deed

Full covenant and warranty deed

Which deed offers the greatest protection? Quitclaim deed Executor's deed Full covenant and warranty deed Referee's deed

Full covenant and warranty deed

Which part of a deed is actually the act of conveyance? Granting clause Habendum clause Consideration Designation of limitations

Granting clause

What happens if a person dies intestate?

If there are heirs, the estate will pass to them according to title by descent or the state's laws of succession. If there are no heirs, the estate will go to the state or county after all claims and debts have been settled.

What does the granting clause of a deed do?

It expresses the grantor's present desire and intention to transfer legal title of a piece of real property to the grantee.

What action is necessary for a title to a property to pass to the grantee?

It is necessary for the deed to be delivered to and accepted by the grantee for title to pass.

What is important to know about a full covenant and warranty deed?

It is the deed most used in real estate transfers and offers the greatest protection of any deed. With this type of deed, the grantor gives certain covenants or warranties that promise the grantee will have ownership of the property that is unchallenged.

Which type of will is generally not valid for the transfer of real property? Nuncupative Holographic Approved Witnessed

Nuncupative

Which method of legally describing parcels of real estate creates townships? Metes and bounds Rectangular survey system Lot and block All of the above

Rectangular survey system

What type of deed would be used to transfer property at a public foreclosure sheriff's auction? Sheriff's deed Court deed Public deed Auction deed

Sheriff's deed

If an individual dies with a will, the person has died Intestate. Testate. Probate. Involuntary alienation.

Testate.

For what kinds of properties is the lot and block method most often used?

The lot and block system, also called the recorded plat method, is used to describe properties in residential, commercial, and industrial subdivisions.

What is a range when legally describing parcels of real estate? The north-south area between consecutive meridians The east-west area between two parallels The area enclosed by the intersection of two consecutive meridians and two consecutive parallels The area of land where deer and buffalo roam

The north-south area between consecutive meridians

How many sections are there in a township? One Six Twelve Thirty-six

Thirty-six

What does a probate proceeding do?

Validates the will, if one exists. Identifies and settles all claims and outstanding debts against the estate. Distributes the remainder of the estate to the rightful heirs.

An owner transfers title to a property to a buyer in exchange for a consideration. This is an example of what? Voluntary alienation Escheat Hypothecation Estoppel

Voluntary alienation

What does the phrase "dedication by deed" mean?

When a subdivision developer turns the subdivision road or the common ground in the subdivision over to the local government, he or she does so by what's known as dedication or dedication by deed.

Color of title can best be described as an instrument that purports to transfer ownership of property but does not due to some defect. a court order which grants property access. a legal document that blocks ownership. a legal writ which must be completed before ownership can be granted.

an instrument that purports to transfer ownership of property but does not due to some defect.

In New York, how long must a possessor occupy the property to qualify for notorious possession and hostile possession? 1 year 5 years 10 years 20 years

10 years

The rights that property owners have to everything that is produced by their land is called Accretion rights. Avulsion rights. Reliction rights. Accession rights.

Accession rights.

The gradual addition of land as a result of movement by streams or rivers is called Accretion Alluvion Avulsion Reliction

Accretion

Define the terms accretion and avulsion.

Accretion is the gradual addition of land by alluvial deposits of soil. Avulsion is the sudden loss of land as a result of its being washed away.

Transfer of title to real estate is called Property sale. Alienation. Eviction. Foreclosure.

Alienation.

A deed in which the grantor guarantees the title against defects that come up only in the time period of his or her ownership is what type of deed? Special warranty Quitclaim General warranty Bargain and sale

Bargain and sale

Which covenant of a full covenant and warrant deed assures the grantor owns the estate to be conveyed and has the right to do so? Covenant of seizen Covenant of further assurance Covenant of warranty forever Covenant against encumbrances

Covenant of seizen

What instrument is used by an owner to voluntarily transfer title to real estate? Bill of sale Closing statement Deed Habendum clause

Deed

A bargain and sale deed with covenants has which of the following special warranty covenants? I own but won't defend. I may or may not own, and I won't defend. I own and will defend against my acts only. I own and will defend.

I own and will defend against my acts only.

What does a metes and bounds legal description do?

Identifies the boundaries of a parcel of real estate using reference points, distances, and angles.

Which method of legally describing parcels of real estate would use a POB? Metes and bounds Rectangular survey system Lot and block All of the above

Metes and bounds

Does the granting clause in itself convey the title? Why or why not? No, only the grantor's signature conveys the title. No, the title must be delivered and accepted by the grantee to be conveyed. Yes, the clause states the owner is conveying the title. Yes, as long as it is followed by a Habendum clause.

No, the title must be delivered and accepted by the grantee to be conveyed.

Which method of legally describing parcels of real estate is also called the recorded plot system? Metes and bounds Rectangular survey system Lot and block None of the above

None of the above

Why is an acknowledgement important if it is not needed to make a deed valid?

The acknowledgement is required for the deed to be recorded. So a deed without an acknowledgement might endanger a person's claim to a property.

What is the negative aspect of a bargain and sale deed with covenants?

The deed does not protect the grantee against claims that predate the owner's period of ownership.

What is adverse possession?

The process by which an owner can lose title to his or her property because an adverse possessor entered, occupied, and used the property without the knowledge or consent of the owner, or with the knowledge of the owner who failed to take any action over a ten-year period.

What is the difference between voluntary and involuntary alienation?

Voluntary alienation is an unforced transfer of title by sale or gift from an owner to another party. Involuntary alienation is a transfer of title without the owner's consent.

What is a quitclaim deed and what is probably its most common use?

With a quitclaim deed, the grantor makes no claim to any interest in the property being conveyed and offers no warrants to protect the grantee. It is often used in divorce settlements.

Acceptance by the grantee allows for the title to be searched. certifies the grantor. allows for the title to validate the deed. allows for a deed to convey title.

allows for a deed to convey title.

A quitclaim can be used to transfer a title. is illegal in New York. can remove a cloud from the title. transfers ownership to a third party.

can remove a cloud from the title.

A deed of trust is used to transfer personal property. convey property to a third party trustee as collateral for a loan. convey property to the trustee of a land trust. convey property sold at a tax sale.

convey property to a third party trustee as collateral for a loan.

Reliction is the gradual receding of water from its usual watermark to allow access to "newly" found land. the gradual reduction of land around a moving waterway. the gradual addition of soil by the land owner. the gradual reduction of soil due to wind erosion.

the gradual receding of water from its usual watermark to allow access to "newly" found land.