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4 Cards in this Set
- Front
- Back
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The date and time a document was recorded help establish which of the following? A. Subrogation B. Abstract of title C. Priority D. Marketable title |
C. Priority Time of recordation is an important consideration in establishing the priority of claims in the event of a sale. |
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Chain of title is MOST accurately defined as A. the examination of the record and hidden risks such as forgeries, undisclosed heirs, errors in the public records, and so on. B. an instrument or document that protects the insured parties (subject to specific exceptions) against defects in the record of a property’s ownership. C. a report of the contents of the public record regarding a particular property. D. a history of all documents and legal proceedings affecting a specific parcel of land. |
D. a history of all documents and legal proceedings affecting a specific parcel of land. |
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Documents referred to as title evidence include A. policies of title insurance. B. general warranty deeds. C. security agreements. D. special warranty deeds |
A. policies of title insurance. Deeds are never considered title evidence. Policies of title insurance are the best title evidence. |
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Which of the following are traditionally covered by a standard title insurance policy? A. Changes in land use because of zoning ordinances B. Unrecorded rights of persons in possession C. Improperly delivered deeds D. Unrecorded liens not known to the policyholder |
C. Improperly delivered deeds The rights of persons in possession (prior to purchase) are not covered by the basic title insurance policy, but they are covered by extended coverage policies. Changes in land use related to zoning are not covered in any type of title insurance. Standard coverage will protect against improperly delivered deeds. |
