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37 Cards in this Set
- Front
- Back
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All of the following deeds will convey title except...
a. General Warranty b. Special Warranty c. Quit Claim d. Disclaimer |
d. Disclaimer
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Which of the following would not appear on a public report?
a. Utilities b. Title condition c. Market value d. Legal description |
c. Market value
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When a lot is sold outside of a subdivision, which of the following must appear in the deed?
a. Zoning ordinances b. Square footage c. Water rights d. No ingress or egress exists |
d. No ingress or egress exists
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An affidavit of value would contain all of the following except...
a. Consideration b. Tax transfer stamps c. Description d. Signatures |
b. Tax transfer stamps
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What is the purpose of an affidavit of value?
a. Assist the County Assessor in determining property values b. To meet IRS requirements c. To assist in determining capital gains tax d. To assist the State Treasure in sales tax revenue |
a. Assist the County Assessor in determing property values
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In Arizona, you may obtain title under which of the following?
a. Easement by prescription b. Adverse possession c. License action d. Disclaimer deed |
b. Adverse possession
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Which of the following coverage would not be included in an owner's policy of title insurance?
a. Forged documents b. Unknown heirs c. Parties in adverse possession d. Recorded mechanics liens |
c. Parties in adverse possession
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Which of the following would not be covered in a standard owner's policy of title insurance:
a. Easements obtained by prescription b. Improper delivery c. Conveyance made by a minor d. Forged documents |
a. Easments obtained by prescription
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An owner's title policy would protect you against which of the following:
a. Encroachments b. Survey error c. Unrecorded easements d. Forgery |
d. Forgery
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In Arizona, a deed must be signed by the:
a. Grantee b. Mortgagor c. Grantor d. Trustor |
c. Grantor
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A deed is acknowledged in Arizona to:
a. Show the intent of the grantee b. Meet the recordation requirements c. Meet state law d. Meet the statute of frauds |
c. Meet state law
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Who signs a deed of conveyance?
a. Vendee b. Grantor c. Beneficiary d. Trustee |
b. Grantor
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When a person receives real estate through a will, this is called:
a. Demise b. Bequest c. Devise d. Legacy |
c. Devise
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When a lessee is promised "quiet enjoyment", it means:
a. No sound would be heard between the walls b. The lease will not be terminated if the property is sold c. The area would be free of noise d. No liens would exist on the property |
b. The lease will not be terminated if the property is sold
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Who must sign a deed?
a. Grantor b. Grantee c. Grantor, Grantee, Broker d. Escrow officer |
a. Grantor
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When a grantor gives a covenant to the grantee promising that no liens exist against the property except those reveled, this is known as:
a. Covenant of Seisen b. Covenant of Laches c. Covenant of Quiet Enjoyment d. Covenant against Further Encumberances |
d. Covenant against Further Encumberances
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When a person acquires an easement by prescription, the time can be accumulated by many property owners this is called:
a. Tacking b. License c. Devise d. Accretion |
a. Tacking
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When a person receives real estate through a will, which of the following is true?
a. After probate the heirs would receive teh real property b. The heirs would receive a bequest c. Probate is not required d. All trusts would be terminated if there was a will |
a. After the probate the heirs would receive the real property
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When a volunary transfer of real estate takes place according to a will, this would be called:
a. Estopple b. Subrogation c. Acceleration d. Alienation |
d. Alienation
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When a person dies with a will, which of the following statements would be false?
a. An executor would oversee the probate process b. Heir may contest the will c. The estate would not be subject to probate because the party died with a will d. The estate could be subject to taxes before any property is transferred |
c. The estate would not be subject to probate because the party died with a will
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In a deed, the clause that deals with easements and liens is called:
a. Granting b. Habendum c. Appurtenance d. Limitation and restriction |
d. Limitation and restriction
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A hand-written will is called which of the following?
a. Codicle b. Unenforceable c. Holographic d. Intestate |
c. Holographic
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A person who receives real estate in a will is:
a. Devisor b. Devisee c. Bequestor d. Bequestee |
b. Devisee
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Standard title insurance would insure all of the following except:
a. Survey mistake b. Mental incompetence of grantor c. Forgery d. Recorded mechanics liens |
a. Survey mistake
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Which of the following is not a form of involuntary alienation?
a. Sherrif sale b. Erosion c. Trustee sale d. Dedication |
d. Dedication
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Which of the following items listed below would be exceptions to the lender's ALTA policy:
a. Survey issues b. Zoning c. Boundary lines d. Mechanics liens not yet recorded |
b. Zoning
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What is not necessary for a valid deed?
a. Granting clause b. Signed by Grantee c. Signed by Grantor d. Legal consideration |
b. Signed by Grantee
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An ALTA title insurance policy would cover which of the following?
a. Environmental problems b. Errors in survey c. Unrecorded IRS liens d. Methods of repayment |
b. Errors in survey
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An owner title policy would cover which of the following?
a. Errors in survey b. Unrecorded IRS liens c. Forged documents d. Unrecorded mechanics liens |
c. Forged documents
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When a Quit Claim deed is used, what type of interest does the grantee have?
a. Whatever interest the grantor held b. Warranties to clear title c. Covenant of seizin d. Quiet enjoyment |
a. Whatever interest the grantor held
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The ALTA title insurance policy protects the lender against all of the following title defects EXCEPT:
a. Claims of persons in possession b. Errors a survey would disclose c. Mechanics liens yet to be recorded d. Changes in zoning ordinances |
d. Changes in zoning ordinaces
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After J bought real estate from P, both parties decided to cancel the recorded sale. What must be done?
a. J should return the deed to P b. Record a rescission notice c. Mark the deed void d. J should prepare a new deed and deliver it to P |
d. J should prepare a new deed and deliver it to P
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Which is an example of involuntary alienation?
a. Mortgage b. Deed of trust c. Deed through foreclosure d. Deed in lieu of foreclosure |
c. Deed through foreclosure
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When a party uses a property openly, coninuously, notoriously and hostilely for a statutory period of time, this is referred to as:
a. Easement in gross b. Easement by prescription c. Encroachment d. Adverse posession |
b. Easement by prescription
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Who is responsible for recordation of a deed?
a. Broker b. Grantor c. Grantee d. Lender |
c. Grantee
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A demising clause would be found in which document?
a. Will b. Mortgage c. Deed d. Lease |
d. Lease
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Marketable title would be defined as:
a. Title that is free from clouds and defects b. Title that is free from any and all encumbrances c. Chain of title d. Perfect title |
a. Title that is free from clouds and defects
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