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Flashcards in Source of Title Deck (44)
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1

Which of the following is NOT an essential element of a deed, required for deed validity
- competency and capacity of grantor
- execution by grantor in the presence of two witnesses
- delivery and acceptance
- notary acknowledgement

Notary acknowledgment is NOT and essential element of a deed required for validity

2

Under Florida Power of Attorney Act, and agent may only exercise powers _________ in the POA and any authority reasonably necessary to give effect to same
- specifically granted to the agent
- generally granted to the agent
- deemed necessary but the agent
- durably known by the principal

Specifically granted by the agent

3

Under Florida's power of Attorney Act certain powers may be exercised by an agent only if the pincipal
- transfers title to the agent for each enumerated power
- signs or intials next to each specific enumerated power
- conveys and interest in real property to the agent
- retains a right of interpleader as to all powers

SIgns or initials next to each specific enumerated power

4

Of the following, who is NOT recognized by statute as being authorized to sign a deed on behalf of a corporation
- president
- vice president
- general partner
- ceo

General Partner is not part of a corporation

5

Who, by statute, is authorized to sign a deed on behalf of a limited partnership
- limited partner
- general partner
- junior partner
- senior partner

General partner is authorized to sign in a limited partnership

6

Corporations may execute deeds under which of the following methods
- General conveyancing, with tow witnesses and no corporate seal
- general conveyancing, with no witnesses and no corporate seal
- corporate conveyancing, with common or corporate seal and no witnesses
- corporate conveyancing, with no corporate seal and no witnesses

General Conveyancing, with two witnesses and no corporate seal
Corporate conveyancing, with common or corporate seal and no witnesses

7

Which of the following is NOT a covenant under a warranty deed
- seizen
- against encumberances
- right to convey
- right to encroach

Right to encroach is not a covenant under a warranty deed

8

Which of the following is NOT a covenant under a warranty deed
- quiet enjoyment
- adverse possession
- general warranty
- further assistance

Adverse possession is not a covenenant on a warranty deed

9

A general warranty deed holds the grantor liable for actions of
- grantor
- grantee
- predecessors in title
- successors in title

General warranty deed holds the grantor liable for Grantor and Predecssors in title

10

What type of deed specifically limited liability of the grantor to the grantors period of ownership, by cutting off liability for action of predecessors in title
- general warranty
- special warranty
- bargain and sale
- quitclaim deed

The special warranty deed limits the liability to the grantors period of ownership

11

Verification of corporate status should include all of the following EXCEPT
- good standing
- not disbarred
- not dissolved
- inexistence

Not disbarred has nothing to do with corporate status

12

Verification of corporate status should be done through
- secretary of state
- secretary of the interior
- department of financial services
- consumer financial protection services

The secretary of the state is used for corporate verification

13

For a limited partnership to be formed, a certificate of limited partnership must be files with
- department of state
- department of financial services
- secretary of the interior
- consumer financial protection bureau

Department of state handles filings limited partnership

14

Each ____ is an agent of the limited partnership for purposes of its activities
- limited partner
- general partner
- managing member
- vice president

General partners are agents of a limited parntership

15

When insuring title involving partnership property where a copy of the partnership agreement will NOT be made available for review, a _____ executed bu a general partner should be obtained
- partnership resolution
- partnership affidavit
- general partner roster
- general partner stipulation agreement

A partnership affidavit should be used

16

A partnership in dissolution may
- carry on business as usual
- wind down business affairs
- execute mortgages
- borrow money

Wind down business affairs as they are dissolving

17

FS 689.07 stipulates that a deed or conveyance in which the words "trustee or as Trustee" are added to the name of the grantee, with no identifiable trust and not named beneficiaries
- vests fee simple title in the grantee, individually
- vests fee simple title in the grantee , as trustee
- vests a life estate in the grantee, individually, with a ramiainder to the trust
- vests a leasehold estate in the trust, with a remainder to the grantee, individually

Vests fee simple title in the grantee individually

18

When a person dies _____ the estate, including real property owned at the time of death, passes in accordance with the will, by laws of devise and distribution
- testate
- escheat
- intestate
- in Rem

When a person dies "Testate" it passes in accordance

19

When a person dies _____ the estate, including real property owned at the time of death, passes by laws of descent and distribution to descendants or ascendants
- testate
- intestate
- bankrupt
- escheat

Intestate is when there was no will

20

The property of a person who dies without leaving a will and with no descendants or ascendants
- is non-transferrable
- escheats to the state
- confers to his or her trust
- becomes adversly possessed

Escheats to the state with no will or dependents

21

A/An ______ to the will must be executed with the same formalities as a will
- addendum
- codicil
- exhibit
- rider

Codicil is basically an addendum for a will

22

A will or codicil may be ____ at the time of its execution or at any subsequent date by the acknowledgment of it by the testator and the affidavits of the witnesses, made before an officer authorized to administer oaths and evidenced bu the officer's certificate attached to or following the will
- self made
- assigned
- self proved
- subordinated

Self proved

23

The revocation of a codicil to a will does not
- revoke the codicil
- revive the codicil
- revoke the will
- remediate the will

Codicil does not revoke the will but the will does revoke the codicil

24

Revocation of a will
- revokes all former wills
- revokes all codicils to the will
- revives all former wills
- revives all codicils to the will

Revokes all codicils to the will

25

As provided by the florida constitution, the descendants homestead property is _____ if the owner is survived bu a spouse or minor child or minor children except that the hoestead may be devised to the owners spouse if there is no minor child or children.
- subject to devise
- not subject to devise
- subject to escheat
- subject to conservatorship

Not subject to devise

26

Where the decedent is married a the time of death, title to real property held as tenants bu the entirety will automatically vest in the
- surviving spouse
- surviving minor children
- surviving minor and adult children
- surviving spouse and minor children

Surviving spouse

27

Who would NOT be deemed a natural guardian of minor children
- the parents jointly of their own and adopted children
- the surviving parent if one parent dies
- the parent to whom sole parental responsibility is granted following dissolution of marriage
- the father of a child born out fo wedlock

The father of a child born out of wedlock

28

Natural guardians may collect, receive, manage, and dispose of any real or personal property distributed from an estate of trust on behalf of any of their minor childer - without appointment, authority, or bond - provided the amounts recieved in the aggregate do not exceed____
- $5k
- $10k
- $15k
- $20k

They can not exceed $15k

29

A guardian must _____ for authorization to perform, or confirmation of, acy acts, such as selling the ward's property
- obtain a power of attorney
- file a quiet title action
- obtain permission from the ward
- petition the court

They must petition the court

30

Which is NOT part of the foreclosure process
- final judgement
- certification of sale
- certification of title
- automatic stay

There is no "automatic stay" in the foreclosure process