Unit 6: Transfer of Title

Question 1

“OR” is the (giver/receiver) and “EE” is the (giver/receiver)

Answer 1

giver, receiver

Question 2

ORs. GIVEth - give, sell, grand mortgage

EEs RECEIVEth - receive, buy, lend

Answer 2

just a note

Question 3

people selling food at the state fair are (vendors/vendees). People buying food at the state fair are (vendors/vendees)

Answer 3

vendors, vendees

Question 4

Grantor and grantee are in connection with what

Answer 4

deed

Question 5

a lessor and lessee are in connection with what

Answer 5

lease

Question 6

a mortgagor (borrower) and mortgagee (lender) are in connection with what

Answer 6

mortgage

Question 7

offeror and offeree are in connection with what

Answer 7

offered contract

Question 8

vendor and vendee are in connection with what

Answer 8

accepted contract

Question 9

optionor and optionee are in connection with what

Answer 9

option contract

Question 10

In a mortgage loan, the borrower (mortgagor) gives Note and Mortgage to Lender (_______). With mortgages, the OR and EE are determined by the promise, not the funds. The borrower is borrowing money but they are giving the promise to pay. The gift of the promise makes them the mortgagor

Answer 10

Mortgagee

Question 11

act of conveying ownership (transferring title) of real estate from one party to another is _____

Answer 11

alienation

Question 12

transferring title can be done by ____ _____ from individuals to individuals using a deed

Answer 12

private grant

Question 13

transferring title can be done using a ___ ____, which is from the government to individuals, using a land patent

Answer 13

public grant

Question 14

transferring title can be done using a ____, from individuals to the government, by recording a plat.

Answer 14

dedication

Question 15

the purpose of a ____ is the voluntary transfer of title between the grantor and the grantee

Answer 15

deed

Question 16

the seller of real property is required to provide a written ____

Answer 16

deed

Question 17

every deed conveys whatever interest is held by the grantor, unless it specifically states it is conveying a lesser interest. true or false

Answer 17

true

Question 18

the major difference between types of deed is the ____ of _____ given by the grantor to the grantee

Answer 18

extent of promises

Question 19

deeds themselves prove ownership true false

Answer 19

false

Question 20

deeds have to be recorded for title to transfer

Answer 20

false, title passes upon acceptance by the grantee

Question 21

Competent grantor

Answer 21

18, sane, sober. Seller is grantor and buyer is grantee

Question 22

deed must be signed by all owners to convey property. this is an example of which element of a valid deed

Answer 22

execution elements of a valid deed

Question 23

an _____ ______ does not need to be competent, but it needs to be listed as an element of a deed

Answer 23

identifiable grantee

Question 24

describe the land - appurtenances are presumed to transfer with the land unless specifically excluded

Answer 24

legal descriptions of the land (property descriptions)

Question 25

money or something of value. has to be included in the deed.

Answer 25

consideration

Question 26

states that seller is making a grant that conveys or transfers the warranties of the deed. Habendum clause defines the type of freehold estate being granted.

Answer 26

words of conveyance (granting clause)

Question 27

_____ clause defines the type of freehold estate being granted. For example "to have and hold forever" conveys fee simple absolute ownership

Answer 27

habendum

Question 28

title passes upon acceptance by grantee. one of the essential elements of a deed. which one is this

Answer 28

delivery to and acceptance by the grantee(s)

Question 29

seven essential elements of a deed

Answer 29

competent grantor, identifiable grantee, words of conveyance, legal description, consideration, execution by grantor, delivery and acceptance (by grantee)

Question 30

a ____ ____ deed includes the most promises or covenants. Greatest protection for the grantee buyer. contains five covenants and warranties of title.

Answer 30

general warranty deed

Question 31

the five covenants and warranties of title for a general warranty deed

Answer 31

covenant of seisin (grantor owns and has right to convey), covenant of quiet enjoyment (grantee will not be disturbed by others claiming title to the property), covenant against encumbrances (no undisclosed encumbrances (liens, restrictions, easements), covenant of further assurance (future cooperation in signing additional documents), and warranty forever (guarantee of defense of title against claims such as liens or easements

Question 32

In a ______ (limited) warranty deed, a grantor warrants title against the grantor's actions, but not those of earlier owners of the property. grantor only warrants title against defects that may have arisen during grantor's ownership, not those of earlier property owners. no warranties against previous encumbrances

Answer 32

special

Question 33

in a ____ deed: least liability for the grantor/seller. No covenants or warranties - "if I have an interest, I transfer that interest to you." used to clear clouds on title (problem solver). would use when grantor wants no future claims or liability. might use this if you get married so your name changed. used to fix a problem.

Answer 33

quitclaim

Question 34

this deed does not warrant against liens or encumbrances but warrants the grantor's right to convey the title

Answer 34

bargain and sale deed

Question 35

personal representative/probate deed

Answer 35

probate court, someone without a will

Question 36

this deed transfers title at the end of a foreclosure proceeding or statutory redemption period

Answer 36

trustee's deed/sheriff's deed/certificate of sale. used after foreclosure

Question 37

a _____ deed is used when the borrower pays off a loan secured by a deed of trust

Answer 37

reconveyance