Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

a USE THIS ONE 2 > Chapter 12: Transfer Of Title > Flashcards

Chapter 12: Transfer Of Title Flashcards

1
Q

Rights to ownership or actual ownership of the land. Represents the owners bundle of rights

A

Title

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

The legal term for the voluntary transfer of title

A

Voluntary alienation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

The owner who transfers the title

A

Grantor

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

The person who acquires the title

A

Grantee

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

A deed is executed only by who

A

Grantor

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Defines ownership taken by the grantee

A

Habendum clause

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

A valid deed must contain a clause acknowledging that the grantor has received what

A

Consideration

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

A formal declaration that the person who signs a written document does so voluntarily and that her signature is genuine

A

Acknowledgment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Provides the greatest protection of any deed

A

General warranty deed

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Warrantee that the grantor received title

Warranty that the property was not encumbered during the time the grantor held title, except otherwise as noted in the deed

A

Special warranty deed

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Provides the grantee with the least protection of any deed. It carries no covenants or warranties and generally conveys only whatever interest the grantor may have had when the deed is delivered

A

Quit claim deed

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What must be paid before the recording of the deed.

A

Transfer tax

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Title to property may be transferred without the owner’s consent

A

Involuntary alienation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Referred to as squatters rights, is another means of involuntary transfer

A

Adverse possession

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

A person who dies has prepared a will indicating how her property should be handled

A

Testate

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

When a person dies real estate and personal property pass to the descendants errors according to the state statute of discent and distribution

A

Intestate

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

The gift of real property by will

A

Devise

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Person who receives property by will

A

Devisee

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

The gift of personal property by will

A

Legacy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Person who receives personal property by will

A

Legatee

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Title transfer occurs in what four ways

A

Voluntary

Involuntary

Will

Descent

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

The title to real estate passes when a valid deed is?

A

Delivered and accepted

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

The primary purpose of a deed is to?

A

Transfer title rights

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

A special warrant deed differs from a general warranty deed in that the grantors covenant in the special warranty deed?

A

Applies only to a definite limited time

25
Q

The law that requires transfers of real property ownership to be in writing is the?

A

Statute of frauds

26
Q

A third party holds title to property on behalf of someone else through the use of a?

A

Deed in trust

27
Q

In a real estate transaction, who is usually responsible for paying any transfer taxes that are due?

A

The seller

28
Q

Title to real estate that is inherited from a person who died restate is referee to as a?

A

Devise

29
Q

Which type of seed contains no expressed or implied warranties?

A

A quitclaim deed

30
Q

What is not required for a valid deed?

A

Signature of the grantee

31
Q

What is least likely to be found in a deed?

A

The age of the grantors

32
Q

What is the purpose of the acknowledgement by a notary public on a deed?

A

To show the genuineness of the grantors signature.

33
Q

A valid will decides the decedents real estate after the payment of all debts, claims, inheritance taxes and expenses through the?

A

Court action know as probate

34
Q

When the grantors does not wish to convey certain property rights, the grantor?

A

May not do so, as the deed conveys the entire premises.

35
Q

A buyer purchased acreage in a distinct county, never went to see it, and did not use it, although the buyer regularly pay the real estate taxes on it. The second person moved a mobile home on the property, drilled for water, and lived there for many years. The second person to become the owner of the acreage of the person has complied with the state laws regarding?

A

Adverse possession

36
Q

In what situation would a quitclaim deed be most appropriate type of deed to use?

A

To remove a cloud on title

37
Q

The condemnation of private property for public use is exercised under the government right of?

A

Eminent domain

38
Q

A trespasser build a log cabin in a national park and occupied the structure for over 15 years. That person will never be able to claim the property under adverse possession statutes because?

A

The property was not privately owned

39
Q

Grantee is to a deed as devise is to a?

A

Will

40
Q

What is not true about adverse possession?

A

The person taking possession must compensate the owner at the end of the possessory period.

41
Q

A deed must be signed by?

A

The grantor

42
Q

Normally a deed will be considered valid even if?

A

It is signed by an attorney in fact rather than the seller

43
Q

In order for a deed to be valid?

A

The grantor must be legally competent

44
Q

The seller conveyed a quick claim deed to the buyer. Upon receipt of the deed the buyer may be certain that?

A

There are no guarantees give by the deed

45
Q

What is true regarding a special warranty deed?

A

The grantors warranties are limited to the time the grantor owned the property

46
Q

What is not associated with deeds

A

Defeasance clause

47
Q

A single person own a parcel of land. After the owners death the probate court determined the distribution of the land in accordance to the state statutes. This person?

A

Died intestate

48
Q

Which of the following is an involuntary alienation of the property?

A

Eminent domain

49
Q

The type of deed in which the granting clause states, convey and warrant is a?

A

General warranty deed

50
Q

The type of deed in which the grantor defends the title back to its beginning is a?

A

General warranty deed

51
Q

A grantor does not wish to be responsible for defects in the title that arise from previous owners that will guarantee the title for the time the grantor has the ownership. What type of deed would the grantor convey?

A

Special warranty deed

52
Q

What activity is an example of involuntary alienation?

A

Having a piece of land sold for delinquent taxes

53
Q

The clause in the deed that conveys the rights and privileges of ownership is called the?

A

Granting clause

54
Q

Which type of deed can be executed without subjecting the grantor legal warranties

A

Quitclaim deed

55
Q

The deed that grants bargains and sells and implies that the grantor has title is?

A

Bargain and sale deed

56
Q

The deed states that the grantor is conveying all rights and interests of the grantor to have and to hold by the grantee. This is?

A

Habendum clause

57
Q

What will happen to the real estate if the deceased owner did not write a will and has no heirs?

A

The ownership will escheat.

58
Q

Under the terms of the trust established by A will, the trustee is required to sell the real estate the trust holds. The deed that will be delivered at settlement is a?

A

Trustees deed

a USE THIS ONE 2 (25 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions