Transfer and Recording Title
grant, deed, and will.
Title can be voluntarily transferred by?
a clouded title.
A break in the chain of title to a property results in ?
The buyer.
A buyer has signed a contract to purchase a property, but is uncertain of the condition of the title. Who is legally responsible for knowing the condition of the title?
the lender against the possibility that the lender's lien cannot be enforced.
A lender's title insurance policy generally protects ?
Eminent domain.
A municipality wants to build a water treatment facility, and requires some privately owned land to do so. What procedure enables the municipality to buy the property, even against the owner's wishes?
the owner against liabilities and losses resulting from title defects.
A standard owner's title insurance policy generally protects?
It will revert to the state or county by escheat.
If an owner of real property dies without leaving a will and with no legal heirs, what will generally happen to the property?
openly possessing and claiming the property without the owner's consent.
One of the conditions an adverse possessor must meet in order to obtain legal title to a property is?
legal title to the real property.
Someone who possesses all ownership interests in real property owns?
probate.
The court proceeding that generally settles a decedent's estate is called? .
granting clause.
The only clause that is actually required in a deed is the ?
there was no intent to deliver it, and no consideration was given.
The owner of a property creates a deed, leaving the name of the grantee blank, and puts it in a drawer, where it is forgotten for several years. One day, a visitor finds the deed, fills in his name as grantee, and attempts to record it. However, the owner will probably have no trouble disputing the validity of the deed because ?
devise.
The property transferred by a will is called the ?
who has the best evidence of ownership.
The question of who owns title to a property is generally a function of ?
general warranty deed.
The type of deed that offers the grantee the fullest protection against claims to the title is the?
Reconveyance deed.
Title to a certain real property is being held in a trust as collateral for a loan. What kind of deed will the trustee use to convey the title to the borrower when the loan terms are satisfied?
A tax collected by attorneys and paid to the state when transfer documents are prepared.
What is a documentary stamp tax? A) A transfer tax based on the price of the property being conveyed. B) A tax a title company must pay in order to examine title records in the recorder's office. C) D) A tax on stamps used to certify the authenticity of a conveyance.
It removes all prior recorded encumbrances.
What is the function of recording a deed?
It is knowledge received or imparted through direct experience.
Which of the following best describes actual notice?
It is knowledge one could have or should have obtained.
Which of the following best describes constructive notice?
Generally, it is not valid for the transfer of real property.
Which of the following is true of a nuncupative will?
To have an encumbrance removed if the lienholder cannot prove its validity.
Why would a property owner file a quiet title suit?
