Exam (elaborations)
PA RE Fundamentals Quiz -9 (1).
- Institution
- Pennsylvania Real Estate Fundamentals
PA RE Fundamentals Quiz -9 (1).
[Show more]
Seller
Follow
Content preview
PA RE Fundamentals Quiz #9If a competent surveyor can locate the property using the description, the land is considered to
be adequately described.
a. True
b. False - ANS-A. TRUE
A valid deed must contain an accurate description of the real estate conveyed. Land is
considered adequately described if a competent surveyor can locate the property using the
description.
An affidavit of no pending domestic litigation intends to ensure that the title would NOT be
clouded by claims in a property settlement.
a. True
b. False - ANS-A. TRUE
A grantor's nonowning spouse may be required to sign a deed to waive any marital rights. An
affidavit of no pending domestic litigation intends to ensure that the title would not be clouded by
claims in a property settlement.
Only a durable power of attorney confers authority for an agent to act, notwithstanding the
principal's incapacity.
a. True
b. False - ANS-A. TRUE
An attorney-in-fact is defined as the principal's agent and as such is obligated to exercise the
powers with certain due care on the principal's behalf. Only a durable power of attorney confers
authority for the agent to act notwithstanding the principal's disability or incapacity.
An acknowledgment is essential to the validity of a deed.
a. True
b. False - ANS-B. FALSE
Although an acknowledgment is not essential to the validity of a deed, a deed that is not
acknowledged is not a completely satisfactory instrument. In Pennsylvania, an unacknowledged
deed is not eligible for recording. An unrecorded deed is valid between the grantor and the
grantee, but it may not be a valid conveyance against claims by subsequent innocent
purchasers.
, In Pennsylvania, a state transfer tax, currently 1 percent, is imposed on the full consideration
paid for the real estate.
a. True
b. False - ANS-A. TRUE
In Pennsylvania, a state transfer tax, currently 1 percent, is imposed on the full consideration
paid for the real estate. In addition, state law also permits local taxing districts (city, borough,
township, and school district) to impose a transfer tax.
Uninterrupted possession must endure for 12 years, but successive periods of adverse
possession by different adverse possessors may NOT be combined.
a. True
b. False - ANS-B. FALSE
Uninterrupted possession must endure for the statutory period, which in Pennsylvania is 21
years. Through the principle of tacking, successive periods of adverse possession by different
adverse possessors can be combined so that a person who is not in possession for the entire
statutory time may establish a claim.
There are no rigid tests to determine the capacity to make a will under Pennsylvania law.
a. True
b. False - ANS-A. TRUE
A testator must have legal capacity to make a will. There are no rigid tests to determine the
capacity to make a will. Pennsylvania law states that a person must be of legal age (18) and
sound mind.
Title to the decedent's property passes to the heirs according to Pennsylvania's law of descent
and distribution when a person dies intestate.
a. True
b. False - ANS-A. TRUE
When a person dies intestate, title to the deceased's property passes to the decedent's heirs
according to Pennsylvania's law of descent and distribution. The primary heirs of the deceased
are the spouse and close blood relatives.
When a person dies intestate, the decedent's relatives decide the entitlement under the statute
of descent and distribution.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Tutormodock. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for CA$11.82. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
53022 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now