REAE 3325 CH 3 (STUDY) QUESTIONS AND ANSWERS
REAE 3325 CH 3 (STUDY) QUESTIONS AND ANSWERS
REAE 3325 CH 3 (STUDY) QUESTIONS AND ANSWERS
Which of these is not a requirement of a valid deed? - ANSWER-competent grantee
The interest being conveyed by a deed is specified in the: - ANSWER-Habe...
Which of these is not a requirement of a valid deed? - ANSWER-competent grantee
The interest being conveyed by a deed is specified in the: - ANSWER-Habendum
clause
The "highest quality" form of deed - ANSWER-General warrantee deed
A deed used mainly to clear up possible "clouds" or encumbrances to title (conflicting
interests) is the: - ANSWER-Quitclaim deed
If a landowner sells the front part of a parcel of land, retaining the back portion as a
"land-locked" parcel, and if there is an existing informal path across the front parcel to
the back one, the seller is likely to retain the path as a (an): - ANSWER-Implied
easement by prior use
If a neighboring land owner drives across a person's land openly and consistently for a
number of years the neighbor may acquire an easement by: - ANSWER-Prescription
If documents conveying interests in real property are properly recorded in the public
records, then they are binding or enforceable on all persons, regardless of whether
those persons are aware of the documents, by the: - ANSWER-Doctrine of constructive
notice
a widely used form of "evidence of title" - ANSWER-title insurance commitment
The most common form of legal description for urban residential property - ANSWER-
Plat lot and block number
Factors that make it uniquely difficult to establish clear title in real estate as compared to
property items include - ANSWER-Length of ownership in real estate
Title insurance protects an owner (or lender) from legal challenges or complications with
title. Title insurance protects a grantee (or mortgagee) against the legal costs of
defending title, and against loss of the property in case of an unsuccessful defense. It
cannot save a title that is genuinely false. However, it indemnifies the policyholder
against litigation costs, and compensation for loss of the property, should that occur. In
many localities it is customary for the seller to pay for title insurance, though this is
negotiable. For a mortgage policy protecting a lender, the borrower pays.
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