Brainscape's Knowledge GenomeTM


Top Flashcards (Certified)
All Flashcards

Unit 13: Title Records > Assessment > Flashcards

Assessment Flashcards

1
Q

The act of placing documents in the public record

A

Recording

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

The legam presumption that information may be obtained through diligent inquiry

A

Constructive notice

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

When an individual is actually aware of a fact, they are said to have this type of notice

A

Actual notice

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

The order of rights in time, such as who recorded first, which party was in possession first, etc.

A

Priority

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

The record of a property’s ownership

A

Chain of title

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

A legal action to remove a cloud on the title and establish legal ownership

A

Action to quiet title

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

An examination of all the public records to determine if any defects exist in a property’s history of ownership

A

Title search

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

The individual who prepares a summary report of the results of a title search

A

Abstractor

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

A contract under which a policyholder is protected from losses arising from defects in title

A

Title insurance

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

Title problem that is created by a gap in the chain of title or other dispute of ownership

A

Cloud on the title

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

To protect the buyer, in some states, a(n) ___ is conducted as soon as an offer to purchase has been accepted

A

Preliminary title search

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

The type of notice that means the information is not only available but that someone has given the information and is aware of it is called ___.

A

Actual notice

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

If a title has no serious defects, does not expose a purchaser to litigation, and does not cause the property to have a poor likelihood of resale, it is called ___.

A

Marketable title

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

Rather than a certificate of title, in some parts of the country an attorney’s ___ is used as evidence of title.

A

Opinion of title

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

The premium for a title insurance policy is paid at closing how many times ?

A

Once

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

When is the premium for a title insurance policy paid?

A

at closing

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

Uninsurable losses, such as zoning ordinances, named in a title insurance policy are called ___.

A

Exclusions

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

A summary report of what a title search found in the public record is called a(n) ___.

A

Abstract of title

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

The standard coverage title policy insures against hidden effects such as ___.

A

Improperly delivered deeds

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

Registration in the ___ provides evidence of title without needing to make an additional search of public records.

A

Torrens system

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

The legal presumption that information about rights in a property may be obtained by a person through diligent questioning and research is called ___.

A

Constructive notice

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

The following is the complete title record for Lot 27, block 6 of a subdivision. At which point is the chain of title broken?
1. Grantor: Ferris-bumper bulders, Inc. Grantee: Barton & Jane Doyle. By Instrument: Warranty Deed. Conveyance Date: January 19, 1909
2. Grantor: Barton & Jane Doyle. Grantee: Market Title & Trust Company. By Instrument: Trust Deed. Conveyance date: January 20, 1909.
3. Grantor: Market Title & Trust Company. Grantee: Barton & Jane Doyle. By Instrument: Reconveyance Deed. Conveyance date: June 10, 1935
4. Grantor: Barton & Jane Doyle. Grantee: Anton Feldspar. By Instrument: Bargain and Sale Deed. Conveyance date: March 7, 1940
5. Grantor: Peter & Mary Parker. Grantee: Lamont Cranston and Gloria Reeve. By Instrument: Warranty deed. Conveyance date: November 16, 1958
6. Grantor: Lamont Cranston & Gloria Reeve. Grantee: Brookfield Bank & Trust Company. By Instrument: Mortgage. Conveyance date: November 8, 1958
7. Grantor: Lamont Cranston & Gloria Reeve. Grantee: Gerald & Lydia Carlos. By Instrument: Warranty Deed. Conveyance date: September 4, 1979
8. Grantor: Brookfield Bank & Trust Company. Grantee: Lamont Cranston & Gloria Reeve. By Instrument: Release. Conveyance date: May 2, 1995.

A

Point 5: grantor and grantee

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

Any individual who is interested in a particular property may review the ___ to learn about the documents, claims, and other issues that affect its ownership.

A

Public records

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

A written document that affects any estate, right, title, or interest in land must be recorded in the ___.

A

County

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
To be eligible for ___, a document pertaining to real estate must be drawn and executed in accordance with the requirements of the recording acts of the state in which the property is located.
Recording
26
To be eligible for recording, a ___ must be drawn and executed in accordance with the requirements of the recording acts of the state in which the property is located.
document pertaining to real estate
27
To be eligible for recording, a document pertaining to real estate must be drawn and executed in accordance with the requirements of the ___ of the state in which the property is located.
recording acts
28
___ means that not only is the information about property available, but someone has been made aware of that information.
Actual notice
29
A search of the ___ will disclose all recorded liens that exist against a property.
Public records
30
The ___ is the record of a property's ownership, beginning with the earliest owner.
Chain of title
31
In a typical ___, the chain of title is examined beginning with the present owner and tracking backwards to the earliest records of ownership, or a definite period of years depending on state law.
Title Search
32
In a typical title search, the ___ is examined beginning with the present owner and tracking backwards to the earliest records of ownership, or a definite period of years depending on state law.
chain of title
33
In a typical title search, the chain of title is examined beginning with the ___.
present owner
34
A(n) ___ insurance policy protects a homeowner against rights of parties in possession and unrecorded liens.
Extended coverage title insurance policy
35
Extended coverage title insurance is provided by a(n) ___.
American Land Title Association (ALTA)
36
___ title insurance policies include the protections of a standard title insurance policy plus additional protections.
Extended coverage
37
One of the requirements of ___ 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.
Marketable title
38
A(n) ___ should disclose no serious defects, should not depend on doubtful questions of law, and should 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.
Marketable title
39
A certificate of title is evidence of, but not a guarantee of ___.
Ownership
40
A(n) ___ is evidence of ownership, but not a guarantee of ownership.
Certificate of title
41
A(n) ___ is a statement of opinion of the title's status on the date it is issued.
Certificate of title
42
Cause for a buyer of real estate to become worried would be if the seller's evidence of title was a(n) ___.
Recorded deed
43
To serve as public notice, a deed is recorded in the ___.
county
44
Five years ago, a lien was recorded against a parcel of property by a construction company. When the lien was recorded, X was the owner of the property and Z was an active partner in the construction company. The property is in Cook County, but the lien was recorded in Dupage County. Now, Z is trying to buy the property from X. A title search in Cook county disclosed no liens against the property. Because of the mistake in recording, Z has ___ of the liens, but not ___.
Z has actual notice but does not have constructive notice
45
Shortly after closing on the purchase of a parcel of real estate, the buyer discovered that there were serious flaws in the title that made it unlikely that the property could be resold in the future. Because the buyer has accepted the deed, the only recourse is to...
Sue the seller under any covenants contained in the deed
46
The reason that deeds and liens and other claims are recorded is to give ___.
Constructive notice
47
A history of all recorded liens and encumbrances is revealed in the ___.
Abstract
48
The person who prepares a certificate of title
the abstractor
49
Which of these would be covered in a standard title insurance policy? a) defects discoverable by physical inspection b) unrecorded liens c) forged documents d) easements and restrictive covenants
Forged documents
50
A title insurance policy that protects the interest of a mortgage is called a(n) ___.
Lender's policy
51
In the states in which it has been adopted, the ___ limits the time beyond which title records must be searched.
Marketable Title Act
52
Who may conduct a title search in the public records?
Anybody
53
___ gives constructive notice to the world of the rights and instruments of a party in a particular parcel of real estate.
Recording
54
A purchaser went to the county building to check the recorder's records. She found that the seller was the grantee in the last recorded deed, and no mortgage was on record against the property. The purchaser may assume that...
The seller did not mortgage the property
55
The date and time a document was recorded establishes ___.
Priority
56
What establishes priority?
The date and time a document was recorded
57
Mary sold her home to Lynn. Lynn moved into the home but did not record the deed. A few weeks later, Mary died. Her heirs in another city were unaware that she had sold the home. The heirs conveyed title to David, who actually recorded the deed. Who owns the property?
Lynn
58
If a property has encumbrances that will outlast the closing, the property can be sold if...
A buyer agrees to take it subject to the encumbrances
59
An abstract and attorney's opinion constitutes acceptable proof of ___.
Ownership
60
Chain of title refers to....
A record of a property's ownership
61
___ refers to a record of a property's ownership
Chain of title
62
A seller delivered a deed to a buyer at the closing. A title search disclosed no serious defects, and the title did not appear to be based on doubtful questions of law or fact nor did it appear 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 policy was sufficient to convince a reasonably well-informed person that the property could be resold. The title conveyed would commonly be called a(n) ___.
Marketable title
63
The person person who prepares an abstract of title for a parcel of real estate searches the ___ and then summarizes the events and proceedings that affect title.
public records
64
The person person who prepares an abstract of title for a parcel of real estate searches the public records and then summarizes the ___ and ___ that affect title.
events and proceedings
65
The person person who prepares an abstract of title for a parcel of real estate searches the public records and then summarizes the events and proceedings that affect ___.
Title
66
The person person who prepares a(n) ___ for a parcel of real estate searches the public records and then summarizes the events and proceedings that affect title.
abstract of title
67
A homeowner wants to sell her property but cannot find her deed. In this situation, she does not need the deed to sell if it was ___.
Recorded
68
Mortgage title policies protect which parties from loss?
Mortgage companies
69
Which of these is traditionally covered by a standard title insurance policy? a) unrecorded rights of persons in possession b) changes in land use due to zoning ordinances c) improperly delivered deeds d) unrecorded liens not known of by the policyholder
Improperly delivered deeds
70
The documents called ___ include title insurance.
title evidence
71
The legal presumption that information can be obtained through diligent inquiry is called ___.
Constructive notice
72
What is necessary for a deed to be recorded in Illinois? a) Full address of the grantee b) The names of the grantor and grantee typed or printed below their signatures c) An escrow exemption statement d) Permanent tax index number
Full address of the grantee
73
The act of recording gives legal priority to those interests recorded ___.
First
74
A Chicago resident purchases farmland in southern IL as an investment. The deed to the Chicago resident should be recorded in the recorders office of the...
County where the farmland is located
75
The population of Outlet County is 54,000. Who is the recorder of deeds?
County clerk
76
The act of placing documents in the public record
Recording
77
___ is a contract under which the policy holder is protected from losses arising from defects in the title
Title insurance
78
The record of a property's ownership
Chain of title
79
A summary report of what the title search found in the public record
Abstract of title
80
An examination of all public records to determine whether any defects exist in the chain of title
Title search
81
In a title search, the title is traced...
Backward to its origin
82
The ___ searches all the public records and then summarizes the various events and proceedings that affected the title throughout its history
Abstractor
83
A listing of all conveyances from owner to owner
Chain of title
84
Examination of public records
Title search
85
Title free from major defects
Marketable title
86
Judicial action to remove clouds on the title
Quiet title suit
87
Legal presumption that information may be obtained
Constructive notice
88
Contract that protects against losses from title defects
Title insurance
89
History of all documents affecting title
Abstract of title
90
What is considered the best defense of title?
Title insurance
91
A statement of opinion regarding title status on the date that the certificate is issued
Certificate of title
92
A(n) ___ is not a full guarantee of ownership, but instead it certifies the condition of the title's history based on a title search.
certificate of title
93
A certificate of title is not a full guarantee of ___.
Ownership
94
A certificate of title certifies the condition of the title's ___ based on a title search
history
95
A certificate of title certifies the condition of a title's history based on a(n) ___
Title search
96
The ___ will defend any lawsuit based on an insurable defect and pay claims if the title proves to be defective.
Title insurance company
97
The title insurance company will defend any lawsuit based on a(n) ___ and pay claims if the title proves to be ___.
Insurable defect Defective
98
The title insurance company will defend any lawsuit based on an insurable defect and pay claims if the ___ proves to be defective.
Title
99
the documents called ___ include title insurance
title evidence
100
In Illinois, what is used as evidence of title and is an opinion of title status?
Abstract and attorney's opinion of title
101
A(n) ___ must be recorded within one year after expiration of the redemption period or it will become null and void.
Tax deed
102
A tax deed must be recorded within ___ after expiration of the redemption period or it will become null and void.
one year
103
A tax deed must be recorded within one year after ___ of the redemption period or it will become null and void.
Expiration
104
A tax deed must be recorded within one year after expiration of the ___ or it will become null and void.
redemption period
105
A tax deed must be recorded within one year after expiration of the redemption period or it will become ___ and ___.
Null and void

Unit 13: Title Records (3 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions