RealEstateU- Texas Law of Contracts 2024 Questions with 100% Correct Answers Verified Latest Update
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Course
RealEstateU- Texas Promulgated Contract Forms
Institution
RealEstateU- Texas Promulgated Contract Forms
RealEstateU- Texas Law of Contracts 2024 Questions with 100% Correct Answers Verified Latest Update At a closing Buyer Betsy and George were provided a deed to transfer theproperty to
them from the seller. What type of deed would Buyer Betsy and George most likely
receive from the seller at closi...
RealEstateU- Texas Law of Contracts.pdf file:///C:/Users/HP/Desktop/dddd/RealEstateU-%20Texas%20Law%
RealEstateU- Texas Law of Contracts
Questions & Answers
1. At a closing Buyer Betsy and George were provided a deed to transfer theproperty to
them from the seller. What type of deed would Buyer Betsy and George most likely
receive from the seller at closing if there were no issuesat all with the title of the
property?
ANS General Warranty Deed
2. When transferring the property to Buyer Betsy and George the seller wouldneed to sign
the deed as the and Buyer Betsy and George would needto sign
the deed as ?
A. Grantor/Grantee
B. Grantee/Grantor
C. Trustor/Trustee
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D. None of the above
ANS None of the above
3. Since Buyer Betsy and George decided had to obtain a loan on the propertybecause they
did not have the funds to purchase the property outright, this would be what type of
encumbrance on the property?
ANS Voluntary alienation
4. The transfer of title freely by the owner is referred to as?
ANS Voluntary alienation
5. Which of the following is required in a valid deed?
A. All of the above
B. Consideration
C. Habendum Clause
D. A granting lease
ANS All of the above
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6. A suit to quit title is used to do which of the following?
ANS Fix a defect in title
7. Who conducts a title search?
ANS A title abstractor
8. David recently lost his property through a foreclosure sale.This is anexample of?
ANS Involuntary alienation
9. This is a step above prequalification, it involves verifying a purchaser'scredit,
down payment, and employment history...?
ANS Pre-approval
10. The act of reviewing loan documentation and evaluating the borrower's ability and
willingness to repay the loan and sufficiency of collateral value ofthe property is referred
to as?
ANS Underwriting
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11. What is the first step in the loan process?
ANS Pre-qualification
12. What should a real estate agent have their client obtain before viewing anyproperties?
ANS A pre-approval letter from a lender
13. In order to simplify the process, a real estate agent should only recommendone
mortgage broker to their clients?
A. True
B. False
ANS False
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