Chapter 9: Title, Deeds, and Owner Restrictions Flashcards Preview

Florida Real Estate Sales Associate License > Chapter 9: Title, Deeds, and Owner Restrictions > Flashcards

Flashcards in Chapter 9: Title, Deeds, and Owner Restrictions Deck (74)
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1

Title = _____

ownership

2

Title to _____ is the ownership of specified rights to that property that forms an _____.

real property
estate

3

Physical possession of a property counts as which type of notice of ownership?

actual notice

4

Recording documents in public record is considered which type of notice of ownership?

constructive notice

5

true/false: Deeds must be recorded in public record.

false

6

true/false: To record a deed in public record, it must be acknowledged.

true

7

Legal priority of actual and constructive notice are _____.

the same

8

_____ or _____ title to real property is title in fee simple that is free from litigation and defects, enabling an owner t hold it in peace or sell it.

marketable or merchantable

9

There is no such thing as proof of good title, only _____ to support the claim.

evidence

10

A search of the public records, linking all past owners of a parcel of land from root of title to present day is called a _____.

chain of title

11

Abstracting and title insurance companies compile copies of documents from the public records into a _____.

title plant

12

When an attorney reviews an abstract and renders a written opinion, it's called an _____.

opinion of title

13

_____ provides financial protection against losses sustained as the result of a defective title.

Title insurance

14

Mortgage lenders will insist on a borrower obtaining a _____ title policy before making a loan.

mortgagee (lender's)

15

A mortgagor's title insurance policy _____ transferable.

is not

16

A mortgagee's title insurance policy _____ transferable.

is

17

true/false: There is no Florida law that requires title insurance be obtained.

true

18

A _____ transfers ownership of property from the government to an individual.

public grant

19

A _____ is a document that conveys title from one party to another.

deed

20

A _____ is a document that transfers title upon the death of an individual testate.

will

21

_____ is a legal principle under which an owner may lose title to a property after 7 years of adverse, hostile, exclusive possession if the possessor pays the taxes.

Adverse possession

22

_____ is a legal principal under which a property can be lost for failure to provide notice of ownership.

Estoppel

23

_____ is a system created by law under which title transfers to the legal heirs upon the death of an individual intestate.

Descent and distribution

24

The government's right to take private property for public benefit is _____.

eminent domain

25

Reversion of property to the state if someone dies intestate and with no heirs is called _____.

escheat

26

true/false: Deeds must be signed by the grantor and grantee.

false - only the grantor

27

Transferring or conveying title to another is called ________, and is accomplished with a document called a _____.

alienation of title
deed

28

Title does not transfer until a deed is _____ and _____.

delivered and accepted

29

a valid deed must meet the following requirements:
- be in writing
- name the parties
- give the ______ of the property
- specify the _____ being conveyed
- include consideration
- be signed by a competent grantor and 2 witnesses

legal description
legal rights

30

A deed _____ need to be acknowledged in order to be valid.

does not