Vocab

Question 0

Special Agents

Answer 0

Broker to Client

Question 1

General Agents

Answer 1

Salesperson and associate broker to the broker

Question 2

Ministerial act

Answer 2

NOT giving expert guidance or judgment

Question 3

Magisterial act

Answer 3

Expert guidance or judgment

Question 4

Tenancy by Entirety

Answer 4

Married couples. If divorced they become Tenants in Common

Question 5

Joint tenants

Answer 5

Rights of survivorship

Question 6

Tenants in common

Answer 6

Normal unless specified

Question 7

ICA

Answer 7

Intra-Company Agent

Question 8

Appurtenances

Answer 8

Thing of value that attaches to a property.

Question 9

Transfer of title by Decent

Answer 9

To heirs

Question 10

Transfer of title by action of law

Answer 10

Through adverse possession - must have actual continuous possession for at least 20 years.

Question 11

Transfer of title by will

Answer 11

To beneficiaries:
Devicees - who receive real property (a device)
Legatees - who receive personal property (a legacy)

Question 12

Transfer of title by deed

Answer 12

Must be in writing (typed) by attending attorney or one of the parties (18 & older). Signed by grantee; effective when delivered and accepted.

Question 13

Power-of-sale-clause

Answer 13

Gives trustee authority to sell pledged property in the event of borrowers default. No Court Action.

Question 14

Competency has 3 requirements:

Answer 14

Age (majority)
State of Mind
Authority to Act

Question 15

Nuncupative

Answer 15

Oral will

Not recognized in Maryland

Question 16

Holographic

Answer 16

Will in the handwriting of the testator. Are recognized if they are properly attested (witnessed).

Question 17

Distraint

Answer 17

Court seizure and sale of residential tenants personal property for unpaid rent.