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Bob Brooks National Transfer Of Title Exam Questions and Answers 100% Accurate
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If conditions to purchase are involved in a deed and the conditions are violated, what happens? Select one: a. Court order for compliance. b. Property goes back to original owner. c. No change, the conditions stay the same. d. None fo the above. - ANSWER-b. Property goes back to original owner...

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  • March 26, 2024
  • 3
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • bob brooks national transfer of title exam questio
  • bob brooks national transfer of title exam stuvia
  • after a foreclosure a lender sold the property to

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Bob Brooks National Transfer Of Title
Exam Questions and Answers 100%
Accurate

After a foreclosure, a lender sold the property to a young couple and gave them a
quit claim deed. Why was this done?
Select one:
a. It gives buyers more warranties.
b. Because it had no liens.
c. It's the best deed to give.
d. It relieves lender of future liability. - ANSWER-d. It relieves lender of future liability.

If conditions to purchase are involved in a deed and the conditions are violated, what
happens?
Select one:
a. Court order for compliance.
b. Property goes back to original owner.
c. No change, the conditions stay the same.
d. None fo the above. - ANSWER-b. Property goes back to original owner.

Evidence that you have possession but NOT ownership:
Select one:
a. Lease
b. Deed
c. Mortgage
d. Option - ANSWER-a. Lease

Prepaid taxes on a settlement statement show as:
Select one:
a. Debit to seller, Credit to buyer
b. Debit to Buyer, Credit to seller
c. Credit to seller, No entry to buyer
d. Debit to buyer, No entry to seller - ANSWER-b. Debit to Buyer, Credit to seller

In order to be valid a deed MUST be:
Select one:
a. Recorded.
b. Notarized and witnessed.
c. Signed by grantor and grantee.
d. Delivered and accepted. - ANSWER-d. Delivered and accepted.

Evidence of ownership is provided by:
Select one:
a. Option

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