Chapter 5

Question 1

The sales prices of property are not publicly published

Answer 1

Non-disclosure state

Question 2

An entity created to hold property

Answer 2

Trust

Question 3

The person who manages the assets within a trust, according to the trust stores wishes and the best interest of the beneficiaries

Answer 3

Trustee

Question 4

The person who pledges assets to a trust

Answer 4

Trustor

Question 5

A contract that was never valid

Answer 5

Void

Question 6

When a client gives a warranty deed to a buyer, they guarantee the bundle of rights to the buyer

Answer 6

Assurance of the quality of title

Question 7

The transfer of real property from one person to another

Answer 7

Alienation

Question 8

A document in which a person list assets and who should get each asset up upon their death

Answer 8

A will

Question 9

A contract that could be rendered invalid, depending on the circumstances

Answer 9

Voidable

Question 10

A male person who passed away with a will

Answer 10

Testator

Question 11

The way in which a property is held

Answer 11

Title

Question 12

A female person who passed away with a will

Answer 12

Testatrix

Question 13

The moment which property or ownership in goods passes from the seller to the buyer is significantly important because it has several legal implications

Answer 13

Transferring ownership

Question 14

A handwritten well it must be witnessed to be valid

Answer 14

Holographic will

Question 15

An exception or addition to the rights in a deed

Answer 15

Habendum clause

Question 16

A deed that includes a warranty from the settler that you received the entire bundle of rights that a company ownership of the property

Answer 16

General or full warranty deed

Question 17

An oral or deathbed will needs to be witnessed by two people

Answer 17

Nuncupative will

Question 18

I will stipulating what should be done with one’s assets when one is not deceased, but it’s incapacitated

Answer 18

Living will

Question 19

A deed which the grantor warrants the title against defects in cleared title occurring only during their ownership of the property

Answer 19

Special warranty deed

Question 20

A deed with specific purpose

Answer 20

Special purpose, deeds

Question 21

A trust in which the trustor has the power to take back the trust

Answer 21

Revocable trust

Question 22

A deed that does not convey the bundle of rights

Answer 22

Quick claim deed

Question 23

The process of determining who should receive the assets of a deceased person

Answer 23

Probate

Question 24

The person dies with a will

Answer 24

Testate

Question 25

A trust in which the truster is not able to take back the trust once it has been formed

Answer 25

Irrevocable trust

Question 26

The conditions in which a person dies without any will

Answer 26

Intestate

Question 27

A deed which a property is being conveyed at the behalf of the court, the court has older that the property be sold

Answer 27

Judicial deed

Question 28

Any gift from the estate of a person who has passed away

Answer 28

Legacy

Question 29

The most common type of will typically attorney drafted

Answer 29

Formal written will

Question 30

A female person assigned to be in charge of an estate

Answer 30

Executrix

Question 31

A male person assigned to be in charge of an estate

Answer 31

Executor

Question 32

A male person assigned to be in charge of an estate

Answer 32

Executor

Question 33

Used in the case of a mortgage, doesn’t give them rights to the property

Answer 33

Deed of trust

Question 34

Acquisition of ownership of an estate by inheritance

Answer 34

Decent

Question 35

The act of lead real estate to someone by the terms of a will

Answer 35

Devise,

Question 36

A person who makes a will

Answer 36

Devisor

Question 37

A deed returned by lenders to the homeowner when a mortgage is paid off, which then returns rights to the homeowner

Answer 37

Deed of conveyance

Question 38

The voluntary transfer of ownership of properties, such as when the owner sells it

Answer 38

Voluntary alienation

Question 39

A change to an existing will it needs to follow the rules and regulations to be valid?

Answer 39

Codicil

Question 40

The grantor signature needs to be on the deed

Answer 40

Important signatures

Question 41

The transfer of ownership of property eminent domain and foreclosures are examples of this

Answer 41

Involuntary alienation

Question 42

The way in which of property is described by law and by legal terms

Answer 42

Legal description

Question 43

“ I hear by convey and warrant… This clause are similar in the deed, states the purpose of the document

Answer 43

Granting clause

Question 44

The grant warns that she will defend the buyer against anyone who claims a superior title to the property

Answer 44

Covenant of warranty forever

Question 45

Whenever the rights that accompany, a general warranty deed The grantor warrants that he has the rightful ownership in the right to convey property

Answer 45

Covenant of seisin

Question 46

One of the rights that a company, a general warranty deed, grantor warrants that the grantee will have an impaired use unrestricted

Answer 46

Covenant of quiet enjoyment

Question 47

One of the rights that accompany, a general warranty deed, grantor warrants that he or she will take action to protect the grand title if it is found defective

Answer 47

Covenant of further assurance make

Question 48

An occurrence in which a local, state or federal government seizes private property and compensate the owner

Answer 48

Condemnation

Question 49

Both parties are given something to the transaction

Answer 49

Consideration

Question 50

One of the rights that accompany, a general warranty deed, the grantor warns that there are no encumbrances against the title

Answer 50

Covenant against encumbrances