CHAPTER 5 & 6 Flashcards
(148 cards)
IN NORTH CAROLINA, THE STATUTORY PERIOD FOR ADVERSE POSSESSION (WITHOUT COLOR OF TITLE) IS AN UNINTERRUPTED PERIOD OF HOW MANY YEARS WHEN TRYING TO ACQUIRE PRIVATELY OWNED PROPERTY
20 YEARS
TITLE TO REAL ESTATE MAY BE TRANSFERRED DURING A PERSON’S LIFETIME BY
ALIENATION
WHAT TYPE OF DEED MIGHT AN OWNER OF REAL ESTATE USE TO VOLUNTARILY TRANSFER A RIGHT, A TITLE, OR AN INTEREST IN REAL ESTATE
WARRANTY DEED
A MAN OWNED PROPERTY AS A TENANT IN COMMON WITH HIS TWO BEST FRIENDS. YEARS LATER, THE MAN WAS ADJUDGED LEGALLY INCOMPETENT AND MOVED INTO A NURSING HOME. DURING HIS STAY AT A NURSING HOME, THE MAN WROTE A WILL LEAVING HIS ENTIRE ESTATE TO THE NURSING ASSISTANT ASSIGNED TO HIS CARE. THE MAN WAS SURVIVED BY THREE CHILDREN WHEN HE DIED. AFTER HIS DEATH, HIS REAL ESTATE INTERESTS PASSES TO
HIS CHILDREN BY THE LAW OF INTESTATE SUCCESSION
TRUE OR FALSE; A WILL IS A MEANS OF TITLE TRANSFER BY INVOLUNTARY ALIENATION
FALSE
TRUE OR FALSE; FORECLOSURE IS A MEANS OF TITLE TRANSFER BY INVOLUNTARY ALIENATION
TRUE
TRUE OR FALSE; ESCHEAT IS A MEANS OF TITLE TRANSFER BY INVOLUNTARY ALIENATION
TRUE
TRUE OR FALSE; EMINENT DOMAIN IS A MEANS OF TITLE TRANSFER BY INVOLUNTARY ALIENATION
TRUE
WHEN THE GRANTOR ENSURES THAT THE TITLE WILL BE GOOD AGAINST THE TITLE CLAIMS OF THIRD PARTIES THIS DESCRIBES
THE COVENANT OF QUIET ENJOYMENT
A PURCHASER WENT TO THE REGISTRY OF DEEDS TO CHECK THE PUBLIC RECORDS. SHE FOUND THAT THE SELLER WAS THE GRANTEE IN THE LAST RECORDED DEED AND THAT NO MORTGAGE WAS EVER ON RECORD AGAINST THE PROPERTY. THEREFORE, THE PURCHASER MAY ASSUME WHAT
THE SELLER PROBABLY DID NOT MORTGAGE THE PROPERTY
TRUE OR FALSE; THE PERSON WHO EXAMINES THE CHAIN OF TITLE AND PREPARES AN OPINION OF TITLE FOR A PARCEL OF REAL ESTATE WRITES A BRIEF HISTORY OF THE RECORD OF OWNERSHIP OF THE PROPERTY
TRUE
TRUE OR FALSE; INSTRUMENTS AFFECTING REAL ESTATE ARE RECORDED IN THE PUBLIC RECORDS OF THE COUNTY WHERE THE PROPERTY IS LOCATED BECAUSE RECORDING GIVES CONSTRUCTIVE NOTICE TO THE WORLD OF THE RIGHTS AND INTERESTS IN A PARTICULAR PARCEL OF REAL ESTATE
TRUE
SUCCESSION OF CONVEYANCES FROM SOME STARTING POINT WHEREBY THE PRESENT OWNER DERIVES TITLE
CHAIN OF TITLE
TRUE OR FALSE; A TITLE INSURANCE POLICY WITH STANDARD COVERAGE GENERALLY COVERS RIGHTS OF PARTIES IN POSSESSION
FALSE
TRUE OR FALSE; A TITLE INSURANCE POLICY WITH STANDARD COVERAGE GENERALLY COVERS FORGED DOCUMENTS
TRUE
TRUE OR FALSE; A TITLE INSURANCE POLICY WITH STANDARD COVERAGE GENERALLY COVERS INCORRECT MARITAL STATEMENTS
TRUE
TRUE OR FALSE; A TITLE INSURANCE POLICY WITH STANDARD COVERAGE GENERALLY COVERS INCOMPETENT GRANTORS
TRUE
THE PROCESS BY WHICH EMINENT DOMAIN IS EXERCISED
CONDEMNATION
STATE WHETHER A NECESSARY CONDITION OR NOT; PROPERTY IS TO BE GIVEN TO THE OWNER OF A QUASI-PUBLIC CORPORATION
NOT A NECESSARY CONDITION
STATE WHETHER A NECESSARY CONDITION OR NOT; USE BENEFITS THE PUBLIC
NECESSARY CONDITION
STATE WHETHER A NECESSARY CONDITION OR NOT; PROPERTY OWNER IS PROTECTED BY DUE PROCESS OF LAW
NECESSARY CONDITION
STATE WHETHER A NECESSARY CONDITION OR NOT; JUST COMPENSATION IS PAID TO THE PROPERTY OWNER
NECESSARY CONDITION
TRUE OR FALSE; MONTH-TO-MONTH LEASE IS A REAL ESTATE DOCUMENT THAT IS LEAST LIKELY TO BE RECORDED
TRUE
TRUE OR FALSE; A DEED IS A REAL ESTATE DOCUMENT THAT IS MOST LIKELY TO BE RECORDED
TRUE