Texas Law of Contracts - Chapter 9

Abstract of title

A condensed history, or summary of all transactions affecting a particular tract of land is known as a...? Abstract of title Chain of title Clouded title General title

General warranty deed

A deed used to convey real property which contains warranties of title and quiet possession, and the grantor thus agrees to defend the premises against the lawful claims of third persons is referred to as a...? General warranty deed Special warranty deed Quitclaim deed Bargain and sale deed

Grantee

A person who acquires an interest in land by deed, grant, or other written instrument is referred to as the...? Grantor Grantee Trustor Trustee

Deed

A written document by which ownership of land is transferred from one party to another is referred to as a...? Title Promissory note Deed Mortgage

Title search

An examination of public records, laws, and court decisions to disclose the current facts regarding the ownership of real estate is known as a...? Abstract of title History of title General title Title search

Involuntary alienation

David recently lost his property through a foreclosure sale. This is an example of...? Voluntary alienation Involuntary alienation Voluntary grant Improper transfer

Grantee

Ely is in the process of purchasing a new house. Since Ely will be acquiring title to the property, he is considered the...? Grantor Grantee Trustor Trustee

Title

The evidence of right which a person has to the ownership and possession of land is referred to as...? Title Deed Bundle of rights Warranty

Actual notice

The express or implied knowledge of a fact is known as...? Actual notice Constructive notice Recorded notice Evidence of notice

Chain of title

The past series of transactions and documents affecting the title to a given parcel of land is known as...? Abstract of title Chain of title Clouded title Transferred title

Grantor

The seller in a residential sales transaction is considered the...? Grantor Trustee Trustor Grantee

Voluntary alienation

The transfer of title freely by the owner is referred to as...? Involuntary alienation Voluntary alienation Granting Trustor

Adverse possession

This form of involuntary alienation involves the taking of property through the open, notorious, continuous, and hostile occupancy of the property...? Adverse possession Condemnation Eminent domain Foreclosure

Clouded title

Title that is encumbered or burdened with defects is referred to as...? Imperfect title Marketable title Clouded title All of the above

Marketable title

Title which a reasonable purchaser, informed as to the facts and their legal importance and acting with reasonable care, would be willing and ought to accept is known as...? General title Warranty of title Marketable title Reasonable title

General warranty deed

Which of the following deeds offers the most amount of protection to the buyer...? Bargain and sale deed Quitclaim deed Special warranty deed General warranty deed

Selling a property

Which of the following is an example of voluntary alienation...? Condemnation Selling a property Foreclosure All of the above

Consideration

Which of the following is required in a valid deed...? Consideration Signature of the grantee Title insurance A survey of the property

All of the above

Which of the following is required in a valid deed...? Habendum clause Consideration A granting clause All of the above

A title abstractor

Who conducts a title search...? A property owner A title abstractor A lender A real estate broker