Chapter 3C - Quiz

What type of deed is used in a co-op transaction...?

A co-op does NOT have a deed

A person who owns a property on a river delta also takes ownership of any additional land that builds up along that riverbank due to natural deposits or man made deposits is an example of what...?

Accession

A means of acquiring title where an occupant has been in actual, open, notorious, exclusive, and continuous occupancy of property under a claim of right for the required statutory period is known as what...?

Adverse Possession

How many Grantors must be included in the execution of a Deed...?

As many as there are owners of the property

A sudden and perceptible loss or addition to land by the action of water, or a sudden change in the bed or course of a stream is known as what...?

Avulsion

The statement "AND the party of the first part covenants has not done or suffered anything whereby the said premises have been encumbered in any way whatever, except as aforesaid." is typically found in what type of deed...?

Bargain and Sale Deed

The covenant that states "that the said premises are free from encumbrances", meaning what is being sold to the buyer, is known as what...?

Clear and Marketable Title

The transfer of the title of land from one to another is known as what...?

Conveyance

An appropriation of land to some public use, made by the owner, and accepted for such use by or on behalf of the public is known as what...?

Dedication

Jim is looking to purchase a property but first wants to verify if there are any outstanding violations or complaints. Where should Jim go to find this information...?

Department of Buildings

ACRIS can be found under which New York City website...?

Department of Finance

What is an example of a covenant that may be found in a deed...?

Easement

Which essential element of a deed refers to the actual signing of the deed...?

Execution

A person or institution appointed by a testator to carry out the terms of their will is known as a/an...?

Executor

In the case where the owner has died and left a will, the fiduciary appointed to represent the estate is known as a/an...?

Executor

A deed is NOT required to cite what...?

Full Consideration

Eminent domain is an example of what...?

Involuntary Alienation

Chris wants to research a property on the Department of Finance (ACRIS) website. Besides using the property's address, how else can Chris search to find information about the property...?

Lot and Block

This type of deed is typically used when money is not being exchanged and the grantee is willing to take the property 'subject to' its condition?

Quitclaim

A section of a deed that may refer to a plat map, which includes the block and lot number of a particular piece of property is known as what...?

Reference to a Plat

The New York General Obligations Law Section 5-703 refers to what...?

Statute of Frauds

The process by which a parcel of land is measured and its area ascertained is referred to as what...?

Survey

The type of deed is typically determined by what...?

The quality of title in a transaction

What warranty is typically NOT provided in a Full Covenant and Warranty Deed...?

There are no outstanding violations

The transfer of title during a typical 'arm's length' transaction is an example of what...?

Voluntary Alienation