Quiz
Chapter 10-Public Records and Title Issues
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Fragen in diesem Quiz (40)
1The act of placing documents in the public record [blank_start]abstractor[blank_end]
- Aabstractor
- Bactual notice
- Cchain of title
- Dconstructive notice
- Etitle insurance
- Frecording
- Gcloud on the title
- Hpriority
- Isuit to quiet title
- Jtitle search
2The legal presumption that information may be obtained through diligent inquiry [blank_start]abstractor[blank_end]
- Aabstractor
- Bactual notice
- Cchain of title
- Dconstructive notice
- Etitle insurance
- Frecording
- Gcloud on the title
- Hpriority
- Isuit to quiet title
- Jtitle search
3A type of notice also known as direct knowledge [blank_start]abstractor[blank_end]
- Aabstractor
- Bactual notice
- Cchain of title
- Dconstructive notice
- Etitle insurance
- Frecording
- Gcloud on the title
- Hpriority
- Isuit to quiet title
- Jtitle search
4The order of rights in time, such as who recorded first, which party was in possession first, etc. [blank_start]abstractor[blank_end]
- Aabstractor
- Bactual notice
- Cchain of title
- Dconstructive notice
- Etitle insurance
- Frecording
- Gcloud on the title
- Hpriority
- Isuit to quiet title
- Jtitle search
5The record of a property's ownership [blank_start]abstractor[blank_end]
- Aabstractor
- Bactual notice
- Cchain of title
- Dconstructive notice
- Etitle insurance
- Frecording
- Gcloud on the title
- Hpriority
- Isuit to quiet title
- Jtitle search
6A legal action to remove a cloud on the title and establish legal ownership [blank_start]abstractor[blank_end]
- Aabstractor
- Bactual notice
- Cchain of title
- Dconstructive notice
- Etitle insurance
- Frecording
- Gcloud on the title
- Hpriority
- Isuit to quiet title
- Jtitle search
7An examination of all the public records to determine if any defects exist in a property's history of ownership [blank_start]abstractor[blank_end]
- Aabstractor
- Bactual notice
- Cchain of title
- Dconstructive notice
- Etitle insurance
- Frecording
- Gcloud on the title
- Hpriority
- Isuit to quiet title
- Jtitle search
8The individial who prepares a summary report of the results of a title search [blank_start]abstractor[blank_end]
- Aabstractor
- Bactual notice
- Cchain of title
- Dconstructive notice
- Etitle insurance
- Frecording
- Gcloud on the title
- Hpriority
- Isuit to quiet title
- Jtitle search
9A contract under which a policyholder is protected from losses arising from defects in title [blank_start]abstractor[blank_end]
- Aabstractor
- Bactual notice
- Cchain of title
- Dconstructive notice
- Etitle insurance
- Frecording
- Gcloud on the title
- Hpriority
- Isuit to quiet title
- Jtitle search
10Title problem that is created by a gap in the chain or other dispute of ownership [blank_start]abstractor[blank_end]
- Aabstractor
- Bactual notice
- Cchain of title
- Dconstructive notice
- Etitle insurance
- Frecording
- Gcloud on the title
- Hpriority
- Isuit to quiet title
- Jtitle search
11Any individual who is interested in a particular property may review the public records to learn about the documents, claims, and other issues that affect its ownership
- ARichtig
- BFalsch
12Any written document that affects any estate, righ, title, or interest in land must be recorded in the county in which the property owner resides.
- ARichtig
- BFalsch
13To be eligible for recording, a document pertaining to real estate must be drawn and executed in accordance with the requirements of the federal government
- ARichtig
- BFalsch
14Constructive notice means that information about a property is not only available, but that someone has been given access to that information
- ARichtig
- BFalsch
15A search of the public records will disclose all liens that exist against a property.
- ARichtig
- BFalsch
16The term chain of title refers to the record of a property's ownership
- ARichtig
- BFalsch
17In a typical title search, the chain of title is examined, beginning with the earliest records of ownership and proceeding forward up to the present owner.
- ARichtig
- BFalsch
18An extended standard coverage title insurance policy protects a homeowner against rights of parties in possession and unrecorded liens.
- ARichtig
- BFalsch
19One of the requirements of marketable title is that it could convince a reasonably well-informed and prudent purchaser, acting on business principles and with full knowledge of the significant facts, that the property could be resold or mortgaged at a later time.
- ARichtig
- BFalsch
20A certificate of title is a guarantee of legal ownership
- ARichtig
- BFalsch
21A title search of the public records may be conducted by
- Aanyone
- Battorneys and abstractors only
- Cattorneys, abstractors, and real estate licensees only
- Danyone who obtains a cour order under the Freedom of Information Act.
22Which statement BEST explains why instrucments affecting real estate are recorded?
- ARecording gives constructive notice to the world of the rights and interests in a particular parcel of real estate
- BThe law requires that such instruments be recorded
- Cthe instruments must be recorded to comply with the terms of the statue of frauds
- Drecording proves the execution of the instrument.
23A purchaser went to the county building to check the records, which showed that the seller was the grantee in the last recorded deed and that no mortgage was on record against the property. The purchaser may assume which of the following?
- AAll taxes are paid and no judgements are outstanding
- Bthe seller has good title
- Cthe seller did not mortgage the property
- DNo noe else is occupying the property.
24The date and time a document was recorded establish which of the following?
- APriority of rights
- BChain of title
- CSubrogation
- DMarketable title
25A buyer bought a house, received a deed, and moved into the residence but neglected to record the document. One week later the seller died, and the heirs in another city, unaware that the property had been sold, conveyed title to a relative, who recorded the deed. Who owns the property?
- AThe buyer
- BThe Relative
- CThe seller's heirs
- DBoth the buyer and the relative
26If a property has encumbrances, it
- Acannot be sold
- Bcan be sold only if title insurance is provided
- Ccannot have a deed recorded without a survey
- Dcan be sold if a buyer agrees to take it, subject to the encumbrances.
27Chain of title is MOST accurately defined as
- Aa summary or history of all instruments and legal proceedings affecting a specific parcel of land
- Ba report of the contents of the public record regarding a particular property
- Can instrument or document that protects the insured parties (subject to specific exceptions) against defects in the examination of the record and hidden risks such as forgeries, undisclosed heirs, errors in the public records, and so forth.
- Da record of the property's ownership.
28Evidence of the kind of estate and all liens against a parcel of real estate can usually be proven by
- Aa recorded deed
- Ba court suit for specific performance
- Cone of the forms of proof of ownership
- Da foreclosure suit.
29The person who prepares an abstract of title for a parcel of real estate
- Awrites a brief history of the title after inspecting the county records for document affecting the title
- Binsures the condition of the title
- Cinspects the property
- Dissues a certificate of title
30A couple is frantic because they cannot find their deed and now want to sell the prperty. They
- Amay need to file a suit to quiet title
- Bwill have to buy title insurance
- Cdo not need the original deed in order to sell, if it was recorded
- Dshould execute a replacement deed to themselves.
31When a title insurance policy is being issued, the public records are searched and the title company's record of title is continued to date. When the itle examination is complete, the title company notifies the parties in writing of the condition of title. This notification is referred to as
- AChain of title
- Ba report of title commintment for title insurance
- Ca certificate of title
- Dan abstract
32When a claim is settled by a title insurance company, the compamy acquires all rights and claims of the insured against any other person who is responsible for the loss. This is called
- Aescrow
- Babstract of title
- Csubordination
- Dsubrogation
33A title insurance policy with standard coverage generally covers all of the following EXCEPT
- Aforged documents
- Bincorrect marital statements
- Crights of parties in possession
- Dincompetent grantors
34The document(s) referred to as title evidence include
- Atitle insurance
- Bwarranty deeds
- Csecurity agreements
- Dabstract of title
35To give notice of a security interest in personal prperty items, a lienholder must record which of the following>
- ASecurity agreement
- BFinancing statement
- CChattel agreement
- DQuitclaim deed
36Which of the following would NOT be acceptedable evidence of ownership
- AAttorney's opinion
- BTitle insurance policy
- CAbstract
- DDeed signed by the last seller
37A seller delivered title to a buyer at closing. A title search had disclosed no serious defects, and the title did not appear to be based on doubtful questions of law or fact or to expose the buyer to possible litigation. The seller's title did not appear to present a threat to the buyer's quiet enjoyment, and the title insurance policy provided was sufficient to convince a resonably well-informed person that hte property could be resold. The title conveyed would commonly be referred to as
- Aa ceritifcate of title
- Ban abstract of title
- Ca marketable title
- Dan attorney's opinion of title
38Which of the following are traditionally covered by a standard title insurance?
- AUnrecorded rights of parties in possession
- Bimproperly delivered deeds
- Cchanges in land use due to zoning ordinances
- Dunrecorded liens not known to the policy holder.
39The BEST reason for a buyer to obtain title insurance is
- Athat the mortgage lender requires it
- Bto ensure that the seller can deliver marketable title
- Cto ensure that the abstractor has prepared a complete summary of title
- Dto pay future liens that may be filed.
40The mortgagee received a title insurance policy on the property a buer is pledging as security for the mortgage loan. Which of the following is TRUE?
- AThe policy is issued for the benefit of the buyer
- BThe policy guarantees that the buyer's equity will be protected.
- CThe amount of coverage is commensurate with the loan amount
- DThe amount of coverage increases as the borrower's equity increases
Informationen
- Beschreibung
- ICFES/Saber 11 Real Estate Quiz am Chapter 10-Public Records and Title Issues, erstellt von Eileen Loughlin am 16/11/2015.
- Autor
- Eileen Loughlin
- Sprache
- English
- Aufrufe
- 96
- Schlagwörter
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