Chapter 9 Flashcards
Title, Deeds, and ownership restrisctions
1
Q
Which of the following best describes an acknowledgement of a deed?
A. it is the same as the seal
B. it is not required before recording
C. it cannot be taken by a notary public
D. it can be taken by an officer of the state
A
C. it cannot be taken by a notary public
2
Q
By what right does the government enforce zoning regulations? A. laws passed by citizens B. police power C. eminent domain D. condemnation
A
B. police power
3
Q
Complete this statement. To be valid, a deed does NOT have to \_\_\_\_\_. A. be in writing B. be under seal C. be delivered and accepted D. stipulate a consideration
A
B. be under seal
4
Q
What is the only warrant found in a bargain and sale deed? A. quiet enjoyment B. seisin C. habendum D. reddendum
A
B. seisin
5
Q
Jones sells a parcel of property to Mason, who thereafter leases the property to Jones. The seller has entered into which of the following? A. sale-contractback B. buy-leaseback C. sale-leaseback D. contract for deed
A
C. sale-leaseback
6
Q
What does an encumbrance affect? A. mortgage B. deed C. title D. structure
A
C. title
7
Q
Complete this statement. To help prevent fraudulent documents from being placed in the public records, the documents are _____.
A. filed in duplicate
B. entered in the computer records
C. acknowledged by an officer of the state
D. witnessed by two persons
A
C. acknowledged by an officer of the state
8
Q
Which of the following is true regarding general warranty deeds?
A. they assure good title
B. they assure marketable title
C. they state that the grantor will defend against all lawful claims
D. they are used principally to cure defects in title
A
C. they state that the grantor will defend against all lawful claims
9
Q
What term refers to the power that the government has to take land for the public good? A. encumbrance B. escheat C. eminent domain D. easement
A
C. eminent domain
10
Q
Which clause in a deed states that the grantor was in possession and has the right to sell the property? A. seisin B. granting C. premises D. habendum
A
A. seisin
11
Q
What is actual notice?
A. recording the deed in the public records
B. possession of the property that can be seen and heard
C. less valid than constructive notice
D. notarizing the documents of transfer
A
B. possession of the property that can be seen and heard
12
Q
Complete the sentence. A deed must be: A. notarized B. witnessed C. recorded D. signed by the grantee
A
B. witnessed
13
Q
How is a quitclaim deed most often used? A. as a tax deed B. as a way to clear clouds on title C. as a personal representative's deed D. as a guardian's deed
A
B. as a way to clear clouds on title
14
Q
Complete the sentence. The ownership of a property actually transfers from the grantor to the grantee when the deed is: A. notarized and recorded B. delivered and accepted C. signed by the grantee and witnesses D. signed by the grantee and recorded
A
B. delivered and accepted
15
Q
What is the purpose of a title search? A. locate all important documents for a closing B. issue title insurance C. give constructive notice D. run a chain of title
A
D. run a chain of title
16
Q
What is a title? A. a deed of conveyance B. a legally binding contract C. a piece of paper D. a bundle of ownership rights
A
D. a bundle of ownership rights
17
Q
Private restrictions are enforced by private citizens. Which of the following is the strongest control they have over a property owner? A. leases B. easement C. deed restrictions D. liens
A
C. deed restrictions
18
Q
Which statement correctly applies to owner’s title insurance?
A. it is transferable to new owners
B. it protects the mortgage from title defects
C. it protects the buyer from title defects
D. it is required on all transactions
A
C. it protects the buyer from title defects
19
Q
Which deed contains no warrants or promises? A. general warranty deed B. bargain and sale deed C. special warranty deed D. quitclaim deed
A
D. quitclaim deed
20
Q
If an owner dies intestate with no known heirs, how can the state take the property? A. elective share B. dower rights C. eminent domain D. escheat
A
D. escheat
21
Q
Which term refers to the government's right to limit or control the actions of citizens in the form of such things as zoning codes and building codes? A. police power B. eminent domain C. escheat D. taxation
A
A. police power
22
Q
Which process is used by the government to take private land for public use? A. escheat B. encroachment C. condemnation D. acknowledgment
A
C. condemnation
23
Q
Which governmental power authorizes a city to make zoning laws? A. police power B. eminent domain C. escheat D. riparian doctrine
A
A. police power
24
Q
In pursuit of an unpaid commission, a broker hires an attorney to attempt to obtain a judgment lien against the seller. In the course of the action, and on the advice of the attorney, the broker filed a lis pendens against the seller’s property. What action may be taken against the broker?
A. none, since no violation has occurred
B. FREC could fine the broker up to $10,000
C. FREC could impose a criminal penalty
D. the broker’s license may be suspended or revoked
A
D. the broker’s license may be suspended or revoked
25
What would a developer do to help a development hold it value?
A. file a plat map
B. file subdivision restrictive covenants
C. order surveys
D. obtain a zoning variance
B. file subdivision restrictive covenants
26
Which statement accurately describes an owner's title insurance policy?
A. it is transferable
B. it covers the amount of the mortgage
C. it guarantees against all defects and encumbrances
D. it guarantees against all defects and encumbrances to which no exception has been taken
D. it guarantees against all defects and encumbrances to which no exception has been taken
27
```
Which type of deed warrants title only against claims made by the grantor, his or her heirs, assignees, executors, administrators, or others who represent them?
A. specific warranty deed
B. general warranty deed
C. quitclaim deed
D. special warranty deed
```
D. special warranty deed
28
```
Which type of easement must be obtained when a utility company wants to put power line poles through a property?
A. by prescription
B. by necessity
C. in gross
D. appurtenant
```
C. in gross
29
```
The neighbors have used Farmer Jones' "ruts" (easement by necessity) for over 20 consecutive years. It may now be considered an:
A. easement appurtenant
B. easement in gross
C. easement by prescription
D. implied easement
```
C. easement by prescription
30
```
Complete the statement. A deed must be acknowledged (notarized):
A. prior to being witnessed
B. by an attorney
C. to make it valid
D. to make it recordable
```
D. to make it recordable
31
```
If an unrecorded deed is accidentally destroyed, who owns the property?
A. title holder of record
B. grantee
C. vendor
D. grantor
```
B. grantee
32
```
Under the laws of eminent domain, for what does an individual have the right for reimbursement?
A. personal anguish
B. assessed value
C. fair market value
d. intrinsic value
```
C. fair market value
33
Complete the statement to make it correct. An easement is the legal right of use:
A. of another's property for any purpose
B. of another's property for a specific purpose
C. for up to 7 years
D. for up to 20 years
B. of another's property for a specific purpose
34
```
Which of the following clauses in a deed names the parties, describes the property, shows legal consideration, and provides words of conveyance?
A. habendum clause
B. reddendum clause
C. granting clause
D. restriction clause
```
C. granting clause
35
```
Where do special assessment liens on property rank in priority of payment?
A. after private liens
B. ahead of private liens
C. ahead of real property tax liens
D. ahead of all liens
```
A. after private liens
36
Which of the following is essential for a deed to be valid?
A. competent grantee, both legally and mentally
B. acknowledged and recorded
C. signed by the grantor and/or grantors
D. stipulates the exact amount of consideration involved
C. signed by the grantor and/or grantors
37
```
Which covenant in a deed assures the grantee that there are no claims or liens on the property other than those specifically listed on the deed?
A. warrant of quiet enjoyment
B. encumbrance clause
C. seizin clause
D. warrant of further assurance
```
B. encumbrance clause
38
```
Which set of terms in NOT synonymous?
A. vendee, purchaser
B. mortgagee, lender
C. lessor, landlord
D. grantee, seller
```
D. grantee, seller
39
Mr. Able sold his home to Mr. and Mrs. Baker and gave them a warranty deed. The Bakers moved into the home but did not record the deed. Two days later, Mr. Able died, and his heirs up norths sold the property without any knowledge of the previous sale. The heirs conveyed title to Mr. and Mrs. Charles, who did record the deed. Who owns the property?
A. Mr. and Mrs. Baker
B. Mr. and Mrs. Charles
C. Mr. Able's heirs
D. The Charles and the Bakers as joint tenants
A. Mr. and Mrs. Baker
40
In the case of eminent domain, what should the owner expect to receive?
A. payment of fair compensation
B. no compensation
C. payment of 50% of market value
D. payment of whatever he or she feels is appropriate
A. payment of fair compensation
41
```
Who could be the seller?
A. mortgagor
B. vendee
C. grantor
D. grantee
```
C. grantor
42
```
Which covenant in a deed is a warrant by the grantor that they will sign any documents in the future that would be necessary to maintain quiet title?
A. warranty forever
B. warrant of seizing
C. warrant of quiet enjoyment
D. warrant of further assurance
```
D. warrant of further assurance
43
```
Which type of deed is the most favorable from the grantor's point of view?
A. special warranty deed
B. warranty deed
C. quit claim deed
D. bargain and sale deed
```
C. quit claim deed
44
How can an easement be extinguished?
A. by giving the required notice
B. by installing a driveway over the easement
C. by an owner no longer using the easement
D. by court action
D. by court action
45
```
Which clause in a deed further assures the buyer that the present owner actually owns the property and has the right to sell?
A. the warrant of seizin
B. the warrant of further assurance
C. the warrant of quiet enjoyment
D. warranty forever
```
A. the warrant of seizin
46
```
A previous owner, upon selling a property, specifically required the buyer to use the property for only one purpose. What type of restriction is this?
A. seller's lien
B. estoppel agreement
C. subdivision restrictive covenant
D. deed restriction
```
D. deed restriction
47
```
Which of the following provides "quiet enjoyment" on a deed?
A. a covenant
B. a noise restriction
C. an encumbrance
D. a noise variance
```
A. a covenant
48
What is required for a transfer of title?
A. signature, under seal, and two witnesses
B. signature, two witnesses, and acknowledged
C. two witnesses, signed, and delivered
D. two witnesses, and delivered
C. two witnesses, signed, and delivered
49
```
Which encumbrance might cloud a title?
A. a judgment
B. zoning
C. a right-of-way
D. an easement
```
A. a judgment
50
How does the Marketable Record Title to Real Property Act (MARTA) relate to curing defects in title?
A. requires the title examiner to search back to the original conveyance of title, in order to prove that the title is free and clear of any claims
B. limits the period of search required to establish valid and marketable "root of title" to at least 30 years
C. requires that if an unrecorded deed is accidentally destroyed, the grantee is recognized as having a marketable record of title
D. requires any recorded instrument or court preceding that affects title to any estate or interest in land and that sufficiently describes the land to identify its location and boundaries
B. limits the period of search required to establish valid and marketable "root of title" to at least 30 years
51
```
Which is considered to be an interest in real property?
A. deed restriction
B. easement
C. encroachment
D. survey
```
B. easement
52
```
Hewitt, a wealthy landowner, wishes to donate a large tract of land to his university alma mater. Hewitt does not want to be responsible for any claims. What type of deed will Hewitt probably use?
A. bargain and sale deed
B. special warranty deed
C. general warranty deed
D. quitclaim deed
```
D. quitclaim deed
53
What is an abstract of title?
A. a history of all documents concerning a property
B. a summary of the important documents concerning a property
C. a history of all recorded documents concerning a property
D. an estimate of fair market value of a property
C. a history of all recorded documents concerning a property
54
```
What term is used to refer to a lien imposed on a property for nonpayment of materials or labor to improve a property?
A. vendor's lien
B. construction lien
C. tax lien
D. judgement lien
```
B. construction lien
55
What keeps a landowner in a key locational position from preventing the progress of the entire community?
A. estoppel
B. ergonometric policy of the city or county
C. eminent domain
D. escheat
C. eminent domain
56
```
If the grantor is insolvent, which of the following deeds would be best from the buyer's point of view?
A. quit claim deed
B. general warranty deed
C. bargain and sale deed
D. any deed
```
D. any deed
57
```
Which type of lien may be retroactive to an earlier date, thus taking priority over other liens?
A. construction lien
B. judgement lien
C. vendor lien
D. IRS lien
```
A. construction lien
58
```
Which clause in a deed contains the grantor's name and the legal description?
A. Habendum clause
B. Tenendum clause
C. Defeasance clause
D. granting or premises clause
```
D. granting or premises clause
59
```
How can defects or clouds on a title be cleared?
A. a quitclaim deed
B. title insurance
C. an abstract
D. a radon gas disclosure
```
A. a quitclaim deed
60
```
How would an owner show marketable title?
A. a deed and tax certificate
B. an abstract
C. title insurance
D. a property tax bill
```
C. title insurance
61
```
Under what authority are cities and counties allowed to enact zoning ordinances?
A. the local planning commission
B. police power
C. eminent domain
D. F.S. 475
```
B. police power
62
What is a title plant?
A. where deeds are printed
B. a system of records, collected and filed by the names of real property owners
C. a system of records, collected and filed according to the names of the title insurance holders
D. a system of records, collected and filed by legal descriptions
D. a system of records, collected and filed by legal descriptions
63
```
Under which agreement does a party give up all of their rights under a lease?
A. sublease
B. assignment
C. transfer of entitlement agreement
D. release of lien
```
B. assignment
64
```
Which type of lease is typically used in commercial real estate where the tenant pays both rent and expenses?
A. net lease
B. gross lease
C. percentage lease
D. ground lease
```
A. net lease
65
Which statement best describes a quitclaim deed?
A. it guarantees that the seller has the right to convey title
B. it is the best deed from the grantee's point of view
C. it does not warrant the title
D. it is the same as a guardian's deed
C. it does not warrant the title
66
```
Title insurance is designed to protect against which of the following?
A. all defects in title
B. missing documents
C. forged documents
D. known defects
```
C. forged documents
67
```
Which deed would be considered a special-purpose deed?
A. warranty deed
B. quitclaim deed
C. deed of trust
D. guardian's deed
```
D. guardian's deed
68
```
To what term does "subleasing" refer?
A. changing a lease termination date
B. adding an addendum to a lease
C. transferring all rights to a property
D. transferring less than all rights to a property
```
D. transferring less than all rights to a property
69
```
Which clause in a deed states that the seller is in possession of the property and has the legal right to convey the property?
A. granting
B. receivership
C. further assurance
D. seisin
```
D. seisin
70
A seller sold a home to a buyer for $50,000. The buyer made a cash down payment of $25,000. The balance of the purchase price was secured by a pledge of $25,000 in stock certificates. The buyer defaulted on the balance of the sales price, which was pledged as security. Which statement is correct regarding the seller?
A. the seller has a vendor's lien and may foreclose
B. the seller may foreclose provided that he or she has served constructive notice that he or she has reserved a primary vendor's lien
C. the seller may not foreclose because stock may be pledged only as an authoritative primary security
D. the seller may foreclose only because of the tertiary law regarding pledging of stocks as a means for securing chattels
A. the seller has a vendor's lien and may foreclose
71
```
What is an abstract of title?
A. guarantee of title
B. chain of information
C. deed of restriction
D. warrantee of title
```
B. chain of information
72
```
What is the term used to refer to the unauthorized use of another's property?
A. encroachment
B. easement
C. reliction
D. variance
```
A. encroachment
73
```
Which entity enforced deed restrictions?
A. the planning commission
B. the DBPR
C. private owners
D. the FREC
```
C. private owners
74
```
Which clause in a deed would include the deed restrictions?
A. premises
B. granting
C. Habendum
D. Reddendum
```
D. Reddendum
75
```
How would a property be transferred when an owner has been declared mentally incompetent?
A. widow's deed
B. referee's deed
C. committee's deed
D. personal representative's deed
```
C. committee's deed
76
```
What is the term used to refer to the process used by the government to exercise its power of eminent domain?
A. conversion
B. condemnation
C. concealment
D. estoppel
```
B. condemnation
77
```
What does the seller become when a property owner sells a property and immediately leases it back?
A. lessor
B. lessee
C. vendee
D. mortgagor
```
B. lessee
78
```
Which is NOT classified as a private restriction on the ownership of real property?
A. escheat
B. leases
C. liens
D. deed restrictions
```
A. escheat
