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30 Cards in this Set
- Front
- Back
- 3rd side (hint)
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1. If co-owners of an easement cannot agree on the allocation of costs for repair and maintenance of a private road, a(n) ______will be appointed by the courts. A. Arbitrator B. Superior court judge C. Supreme court judge D. Sheriff |
A. Arbitrator |
Page 146 |
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2. A valid deed must: Be in writing and identify the grantor and the grantee. B. Contain a granting clause and describe the real estate involved. A. Be in writing and identify the grantor and the grantee.B. Contain a granting clause and describe the real estate involved.C. Be signed by the grantor and accepted by the grantee.D. All of the above. C. Be signed by the grantor and accepted by the grantee. D. All of the above. |
D. All of the above. |
Page 152 |
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3. An executed oral agreement for the transfer of real estate ownership will be enforced under the doctrine of: A. Specific performance. B. Estoppel. C. Both A and B. D. Neither A nor B. |
C. Both A and B. |
Page 153 |
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4. To establish title by adverse possession, an occupant must show: A. His occupancy is inconsistent and hostile with the owner's title. B. His possession is based on a claim of right or color of title. C. He has paid all taxes previously unpaid and assessed against the property during his occupancy. D. All of the above. |
D. All of the above. |
Page 154 |
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5. At the time of signing the deed, a capable grantor must: Possess his civil rights. B. Be of sound mind. A. Possess his civil rights.B. Be of sound mind.C. Be adult at least 18 years of age.D. All of the above. C. Be adult at least 18 years of age. D. All of the above. |
D. All of the above. |
Page 155 |
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6. A deed with a misnamed grantee is: A. Automatically void B. Still a valid conveyance of the real estate. C. Unenforceable. D. None of the above. |
B. Still a valid conveyance of the real estate. |
Page 158 |
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7. For delivery of a deed to occur, the grantor must ______and the grantee must ______. A. Intend to convey title; accept the deed as immediately effective. B. Physically hand the deed to the grantee; record the deed with the county. C. Place the deed in the mail; plan to accept the deed on certain conditions. D. Intend to convey partial title; record the deed with the county. |
A. Intend to convey title; accept the deed as immediately effective. |
Page 163 |
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8. A deed cannot be delivered to the grantee with instructions placing conditions on its use, called a(n): A. Absolute conveyance. B. Partial conveyance. C. Conditional delivery. D. Testamentary delivery. |
C. Conditional delivery. |
Page 166 |
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9. While not containing the word "grant", most quitclaim deeds out of custom use the word(s): A. "Release" B. "Remise" C. "Quitclaim" D. All of the above. |
D. All of the above. |
Page 174 |
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10. The covenant against other conveyances by a seller does not also imply the grantor has title to the property, called: A. The covenant of seisin. B. Restoration. C. Subrogation. D. Reformation. |
A. The covenant of seisin. |
Page 176 |
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11. A(n) ______is a written statement which presents an accurate, factual representation of title to the property being acquired, encumbered or lease A. Preliminary title report B. Property profile C. Abstract of title D. None of the above |
C. Abstract of title |
Page 186 |
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12. Title insurance is the means by which a title insurance company ________a person who acquires an interest in real estate against a monetary loss caused by an encumbrance on title. A. Holds harmless B. Reimburses C. Indemnifies D. All of the above |
D. All of the above |
Page 187 |
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13. Most losses due to the reduction in the value of real estate below the title insurance policy limits arise out of an encumbrance on title, including: A. Restrictions on use B. Easements C. Pendency of condemnation D. All of the above |
D. All of the above |
Page 187 |
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14. ________title insurance policies insure both the record title and observable on-site activities which affect title. A. California Land Title Association B. American Land Title Association C. Both A and B D. None of the above |
B. American Land Title Association (ALTA) |
Page 189 |
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15. ________title insurance policies cover use ordinances, zoning laws and post-closing events caused by the insured A. California Land Title Association B. American Land Title Association C. Both A and B D. None of the above |
D. None of the above |
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16. ________are provisions added to title insurance policies to cover losses due to conditions, covenants and restrictions (CC&Rs) violations, mechanics liens, and the effects of inflation. A. Endorsements B. Equitable subordination clauses C. Right of way easements D. Exceptions |
A. Endorsements |
Page 197 |
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17. After incurring a loss or damage, the insured must provide the title company with a proof-of-loss statement within ________days. A. 15 B. 30 C. 90 D. 120 |
C. 90 |
Page 198 |
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18. Some criteria for perfecting ownership by an adverse possession claim are ________and ________. A. Non hostile, occasional use of the property; sporadic possession for 3 years. B. continuous and uninterrupted possession for 5 years; payment of current and delinquent property taxes and assessments. C. subtle and unobservable possession; payment of current property taxes and assessments only. D. continuous possession for at 4 years; nonhostile, occasional use of the property. |
B. Continuous and uninterrupted possession for 5 years; payment of current and delinquent property taxes and assessments. |
Page 202 |
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19. ________is an adverse possession claim of ownership based on a written instrument and is held by the individual in possession of the property. A. Color of title B. Claim of right C. Easement by possession D. Both A and B |
A. Color of title |
Page 202 |
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20. An adverse possessor must have occupied a property for at least ________before he will be able to acquire title through adverse possession. A. One year B. Two years C. Five years D. Six years |
C. Five years |
Page 205 |
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21. A transmutation must be ______to be effective against persons relying on the record title. A. Written B. Recorded C. Both A and B D. Neither A nor B |
C. Both A and B |
Page 209 |
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22. ______may be used to authorize one spouse to manage and control community property. A. A revocable trust in which one spouse is the named trustee B. A power of attorney C. A limited partnership D. All of the above |
D. All of the above |
Page 210 |
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23. A(n) ______ is required to establish a viable living trust. A. Oral agreement B. Declaration of Trust C. Declaration of Consent D. Writing signed by the beneficiary only |
B. Declaration of Trust |
Page 214 |
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24. Individuals under the age of 18 ______and ______relating to the disposition of real estate. A. Can receive title to real estate; cannot execute a valid contract B. Cannot receive title to real estate; can execute a valid contract C. Can receive title to real estate; can execute a valid contract D. Cannot receive title to real estate; cannot execute invalid contract |
A. Can receive title to real estate; cannot execute a valid contract |
Page 215 |
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25. A ______exists when a person acts as an executor, administrator, guardian or conservator of estates, or as assignee , receiver, depositary or trustee by the appointment of the court or for any purpose permitted by law. A. Trust business B. Business trust C. Either A or B D. Neither A nor B |
A. Trust business |
Page 218 |
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26. The only transferable interest a tenant-in-common owns is: A. His fractional interest in the property. B. The fractional interest in the property held by the other co-owner(s). C. His fractional interest in the partnership. D. The fractional interest in the partnership held by the other co-owner(s). |
C. His fractional interest in the partnership. |
Page 221 |
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27. The alienation of property co-owned by members of a Limited Liability Company (LLC) or partnership refers to its: A. Sale B. Further encumbrance. C. Lease for a period exceeding one year. D. All of the above. |
D. All of the above. |
Page 226 |
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28. when a co-owner of investment real estate is classified by the Internal Revenue Service (IRS) as a partner, the real estate is considered to be owned by: A. The co-owner only B. A tax partnership C. A non-taxable trust D. None of the above |
B. A tax partnership. |
Page 227 |
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29. The creation of a joint tenancy traditionally requires the conveyance of four unities of: A. Title, interest, time and manner. B. Possession, method, time and title C. Interest, title, time and possession D. Time, method, manner and title. |
C. Interest, title, time and possession |
Page 231 |
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30. If a spouse sells or encumbers community real estate without the consent of the other spouse, the non-consenting spouse may ______the transaction or have it _____. A. Set aside; recorded B. Record; ratified C. Ratify; expunged D. Ratify; set aside |
D. Ratify; Set aside |
Page 234 |
