Chapter 2 Question and answers verified to pass
Which of the following is true of easements in general - correct answer They involve the property that contains the easement and a non-owning party.
Which of the following accurately describes the act of foreclosure? - correct answer a proce...
Chapter 2 Question and answers verified
to pass
Which of the following is true of easements in general - correct answer
✔They involve the property that contains the easement and a non-owning
party.
Which of the following accurately describes the act of foreclosure? - correct
answer ✔a proceeding to enforce a lien by forcing sale or transfer of a
secured property.
A judge rules in favor of the creditor in a court proceeding and places a
judgment lien against all the debtors assets, Including his real property. This is
an example of - correct answer ✔
A person wishes to convey any and all interest in a property to another without
insurance of the propertyG??s marketability. The party would most likely use
which of the following types of deed? - correct answer ✔A quietclaim deed
Which of the following defines actual notice? - correct answer ✔It is
knowledge received or imparted through direct experience.
Which of the following best describes the documentary stamp tax? - correct
answer ✔A transfer tax based on the price of the property being conveyed
And owner transfers title to the property to a buyer in exchange for a
motorcycle. This is an example of - correct answer ✔Voluntary alienation
, Ownership of real estate can be transferred voluntarily or involuntarily. Three
ways title can be transferred voluntarily are by - correct answer ✔grant,
deed, and will.
A Real Estate tax lien, a federal income tax lien, a judgment lien, and a
mortgage lien are recorded against a property. Which lien can be paid first
when the property is sold? - correct answer ✔Real Estate taxes
What is the function of recording a deed? - correct answer ✔It gives
constructive notice of ownership.
If a lease does not state a specific ending date, when does it terminate? -
correct answer ✔When either party gives proper notice
How is a lien terminated? - correct answer ✔Payment of the debt that is the
subject of the lien and recording of the satisfaction.
Which of the following defines constructive notice? - correct answer ✔It is
knowledge one could have or should have obtained.
The property owner gives Deanna permission to cross his property as a
shortcut to her kindergarten school bus. One day the property owner dies.
What Wright was Deanna granite originally, and will it survive the ownerG??s
Death? - correct answer ✔A license, which terminates upon the owner's
death.
A break in the chain of title to a property results in - correct answer ✔a
clouded title
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