Unit 19 Flashcards
(32 cards)
To be valid, a deed:
a) must be acknowledged.
b) must be recorded.
c) must have a competent grantee.
d) must have grantor’s signature.
d) must have grantor’s signature.
Which of the following would NOT appear in a deed?
a) Acceleration clause.
b) Habendum clause.
c) Granting cluase.
d) Legal description.
a) Acceleration clause.
Accel clause part of a mortgage loan - not the deed.
To be valid a deed must:
a) name the buyer and seller.
b) recite the date signed.
c) be signed by buyer and seller.
d) be recorded.
a) name the buyer and seller.
The deed that imposes the greast liability on the grantor is the:
a) quitclaim deed.
b) warranty deed.
c) bargain and sale deed.
d) special warranty deed.
b) warranty deed.
A warranty deed is a legal document used in real estate transactions to transfer ownership of a property from a seller (grantor) to a buyer (grantee). It guarantees that the property is free from any liens, encumbrances, or other claims, except those explicitly stated in the deed. This ensures that the buyer has a clear and unencumbered title to the property
The recording of the deed benefits which of the following?
a) Grantor.
b) Grantee.
c) Grantor’s creditors.
d) Selling broker.
b) Grantee.
Deeds may be prepared by:
a) any licensed real estate broker.
b) an attorney or the owner of the property being conveyed.
c) any knowledgeable person.
d) an attorney in fact acting under authority from the grantee.
b) an attorney or the owner of the property being conveyed.
The responsibility of recording a deed lies with:
a) the grantor.
b) the grantee.
c) the mortgagee.
d) the state.
b) the grantee.
The type of deed that warrants only that the grantor did not impair the title during his or her ownership except as stated in the deed is the:
a) warranty deed.
b) special warranty deed.
c) bargain and sale deed.
d) quitclaim deed.
b) special warranty deed.
Persons closing a real estate transaction are requied to report the names, social security numbers and amount of the transaction to the Internal Revenue Service. In New Jersey the PRIMARY filing responsibility falls on:
a) the buyer’s broker.
b) the seller’s broker.
c) the closing attorney or title company.
d) the mortgage lender.
c) the closing attorney or title company.
How many times can the same deed be used?
a) Once.
b) Twice.
c) As often as necessary.
d) It varies from state to state.
a) Once.
In New Jersey a valid general warranty deed need NOT contain:
a) a recital of consideration.
b) a written statement of the warranties.
c) an execution by the grantee.
d) a granting clause.
c) an execution by the grantee.
If a deed conveys title to one person, the form of ownership being conveyed is:
a) severalty.
b) joint tenancy.
c) tenancy in common.
d) tenancy by the entirety.
a) severalty.
Severalty = ONE owner
13) Which of the following is NOT necessary for a valid transfer of title to real estate?
a) Competent grantee.
b) Grantor’s signature.
c) Delivery of the deed.
d) Written deed.
a) Competent grantee.
An acknowledgement is taken by:
a) the grantee.
b) the grantor.
c) Both of the above.
d) None of the above.
d) None of the above.
acknowledgement is taken by attorney
Which of the following may prepare a deed?
a) A real estate broker.
b) The grantor.
c) The grantee.
d) A notary public.
b) The grantor.
The grantor delivers a signed deed but the grantee’s name is omitted.
a) invalid when made but valid when grantee fills in his name.
b) invalid when made but valid when recorded.
c) valid if the deed is delivered to the grantee.
d) invalid.
d) invalid.
In a deed the grantee:
a) must be of legal age.
b) must sign the deed.
c) must be of sound mind and memory.
d) must be named.
d) must be named.
Carol executes a deed of her farm to Bety. Carol keeps the deed in her safe deposit box. Upon her death, the box is opened and attached to the deed is a note to give the deed to Betty. Who
has title to the farm?
a) Betty.
b) Carol’s heirs.
c) The state.
d) Betty’s heirs.
b) Carol’s heirs.
No delivery & acceptance - no transfer of property!
A quiteclaim deed might be used to:
a) remove a cloud on a title.
b) remove an escrow.
c) terminate a lease.
d) evict a tenant.
a) remove a cloud on a title.
In which of the following deeds is it possible that the grantee may receive no ownership rights?
a) Warranty deed.
b) Bargain and sale deed (CVG).
c) Bargain and sale deed without covenants.
d) Quitclaim deed.
d) Quitclaim deed.
A quitclaim deed transfers the interest of the:
a) grantee.
b) mortgagee.
c) grantor.
d) lessee.
c) grantor.
If there is an exception in a deed, it would be:
a) for the benefit of the grantee.
b) for the benefit of the grantor.
c) related strictly to the legal descirption.
d) unconstitutional.
b) for the benefit of the grantor.
In a deed, the buyer is referred to as the:
a) grantee.
b) grantor.
c) vendee.
d) vendor.
a) grantee.
The convenant in a deed which states that the gantor has full possession of the premises in fee simple and has the right to convey the property is called the convenant of:
a) seisin.
b) habendum.
c) quiet enjoyment.
d) furhter assurance.
a) seisin.
seisin. (sees-in) n. an old feudal term for having both possession and title of real property. The word is found in some old deeds, meaning ownership in fee simple (full title to real property). See also: fee simple seized
