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27 Cards in this Set
- Front
- Back
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General Warranty
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Which of the deeds have the best warranties?
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Grantee
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Which of the following receive title through a deed of conveyance?
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Encumbrances
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Deed restrictions that run with the land and liens are...
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Buyer and Seller
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Escrow company works for...
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Recorded
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A deed is legally enforceable if it is...
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Show all monies/costs involved in a transaction.
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What is the purpose of a closing statement?
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Buyer, Seller, and Escrow Agent
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Who signs the settlement sheet?
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The grantor has the right to convey the property.
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The Covenant of Seisin promises...
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No impact
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Title insurance has __________ on property value.
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A title search was completed.
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What does a completed abstract of title indicate?
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PMI must be paid at time of closing.
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When a conventional loan is greater than 80%...
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Buyer
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Owner's Title Insurance is for the protection of the...
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Principal payments
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______________ would never show on a closing statement.
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Debit Seller Credit Buyer
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When taxes are prorated at close of escrow they would read...
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Amount needed to close escrow and balance.
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The difference between debits and credits is the...
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The security deposits are not prorated.
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When the buyer is buying a rental property...
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Parties in possession
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Owner's Title Insurance policy would not cover...
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Interpleader
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When the escrow company turns the matter over to the court to settle a dispute, this is called...
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No ingress or egress
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If a property is sold with ______________, this must be stated in the deed.
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Affidavit of Value
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The document that is recorded along with the deed is the...
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Help the assessor determine the property value for taxation.
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An affidavit of value is used by the county assessor to...
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Recordation
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The point when the docket and page number are assigned is...
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Should not give advise
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Real Estate Salespeople _______________ on how to take title.
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Encroachments
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An extended policy of title insurance would cover...
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Signed and Acknowledged
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In order to record a deed it must be....
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Pur Autre Vie (for the life of another)
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When a party is given a life estate based on the life of another person.
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Color of Title
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____________ gives the appearance of title, but is not.
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