Exam (elaborations)
PA RE Fundamentals Quiz -10 (1).
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- Pennsylvania Real Estate Fundamentals
PA RE Fundamentals Quiz -10 (1).
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PA RE Fundamentals Quiz #10The county recorder of deeds maintains MOST of the public records that affect title to real
property in Pennsylvania.
a. True
b. False - ANS-A. TRUE
Public records contain detailed information about each parcel of real estate. The real estate
recording system includes written documents that affect title such as deeds and mortgages. In
Pennsylvania, the county recorder of deeds maintains most of the public records that affect title
to real property.
In Pennsylvania, a document must be in writing and properly executed to be eligible for
recording.
a. True
b. False - ANS-A. TRUE
To be eligible for recording in Pennsylvania, a document must be in writing and properly
executed (signed). The document also must be acknowledged before a notary public.
Deeds and mortgages can serve constructive notice whether or not they are recorded.
a. True
b. False - ANS-B. FALSE
Deeds and mortgages that are not recorded cannot serve constructive notice. Although these
documents are not necessarily void, they may not be effective on future owners, according to
Pennsylvania law, unless they have been recorded.
An examination of all public records to determine whether any defects exist in the chain of title is
called a title search.
a. True
b. False - ANS-A. TRUE
A title search is an examination of all public records to determine whether any defects exist in
the chain of title. The records of conveyances of ownership are examined, beginning with the
present owner.
A title search is normally performed by a prothonotary, who searches deed conveyances.
, a. True
b. False - ANS-B. FALSE
A title search is normally performed by an abstractor. This is the person who examines the
public records in the recorder of deeds and prothonotary's offices as well as other government
offices.
Once a buyer has accepted a deed with unmarketable title, the only available legal recourse is
to sue the title company under any covenants of warranty contained in the deed.
a. True
b. False - ANS-B. FALSE
A buyer cannot be forced to accept a conveyance that is materially different from the one
bargained for in the sales contract. However, questions of marketable title must be raised by a
buyer (or the buyer's attorney) before acceptance of the deed. Once a buyer has accepted a
deed with unmarketable title, the only available legal recourse is to sue the seller under any
covenants of warranty contained in the deed.
A certificate of title is a guarantee of ownership and is a statement of opinion of the title's status
as of the date it is ordered.
a. True
b. False - ANS-B. FALSE
A certificate of title is a statement of opinion of the title's status as of the date it is issued. A
certificate is not a guarantee of ownership. Rather, it certifies the condition of the title based on
the title search.
A standard coverage policy insures against such hidden defects as conveyances by
incompetent grantors and improperly delivered deeds.
a. True
b. False - ANS-A. TRUE
A standard coverage policy normally insures the title as it is known from the public records. In
addition, the standard policy insures against such hidden defects as forged documents,
conveyances by incompetent grantors, incorrect marital statements, and improperly delivered
deeds.
The premium for title insurance is paid annually, on the date the deed was accepted.
a. True
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