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Texas Real Estate Principles 2: Questions With Complete Solutions (A+)
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Texas Real Estate Principles 2: Questions With Complete Solutions (A+)
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Texas Real Estate Principles 2: Questions WithComplete Solutions (A+)
Written documents affecting title to real estate are recorded:
A. Where the titleholder resides
B. Where the titleholder has legal residence C. At the county clerk's office
where the property is located
D. At any county clerk's office in Texas Right Ans - C. At the county clerk's
office where the property is located
Each county in Texas has a county clerk's office and all documents pertaining
to property in that county are recorded in that office.
A person appointed by a court to settle the estate of a deceased person when
the executor cannot perform or refuses to perform is:
A. Another executor
B. A legatee
C. An administrator
D. A devisee Right Ans - C. An administrator
Administrators are not named in the will and are court appointed and
executors are named in the will and are court approved.
What is an abstract of title?
A. Title insurance
B. A history of all recorded activity affecting a parcel of real estate
C. A judgment on real property
D. A patent Right Ans - B. A history of all recorded activity affecting a parcel
of real estate
An abstractor searches the public records for all documents pertaining to the
property and an attorney often writes an opinion of the abstract
Property managers have a _______________ relationship with the property owner.
,A. Partnership
B. Subagency
C. Binding
D. Fiduciary Right Ans - D. Fiduciary
The owner is the property manager's client and the tenant is the property
manager's customer.
A chain of title shows the linkage of property ownership that connects the
present owner to the original source of title. In most cases it starts with:
A. Ownership from 1955
B. Chattel
C. A suit in a federal court
D. The original grant of the land from the government to a private citizen
Right Ans - D. The original grant of the land from the government to a private
citizen
A chain of title is a list of who owned the property, who they sold it to, the date
the sale occurred, and the number of the book and page it was recorded in at
the county clerk's office
A handwritten will signed by the testator but not witnessed is known as a(n):
A. Nuncupative will
B. Holographic will
C. Oral will
D. Formal will Right Ans - B. Holographic will
A holographic will is handwritten, dated, and signed by the person making the
will. It is not witnessed and is not recorded. A holographic will is legal in 19
states.
A voluntary gift of private land to the public is known as:
A. Alienation
B. A dedication
C. Reliction
D. Annexation Right Ans - B. A dedication
,A dedication is a gift of private land to the public. An example would be a
private owner who gives land to the city for a park and playground.
The general warranty deed contains:
A. The covenant of seisin
B. The covenant against encumbrances
C. Both A and B
D. Neither A or B Right Ans - C. Both A and B
The covenant of seisin means the person conveying the land has the right to
convey the land. A covenant against encumbrances means the property is not
encumbered by anything other than the encumbrances that have been
disclosed.
In order to convey title to real property, a deed must be signed by the:
A. Grantee
B. Grantor
C. Agent
D. Buyer Right Ans - B. Grantor
The deed must be signed by the seller. The grantor is the seller
Sam has moved onto a property owned by Fred. Sam is not leasing the
property. If Sam holds possession of the property for a long period of time, he
will own the property through:
A. Adverse possession
B. Eminent domain
C. Foreclosure
D. Erosion Right Ans - A. Adverse possession
There are four statutes of adverse possession. They are the 3-year, 5-year, 10-
year, and the 25-year statutes. The 10 year is the most common and the 25
year is absolute
The Act passed in 1968 to protect the consumer from land scams is the:
, A. Buyers Land Protection Act
B. Interstate Land Sales Full Disclosure Act (ILSFDA or ILSA)
C. Federal Land and Housing Act
D. Texas Public Ownership Right Ans - B. Interstate Land Sales Full
Disclosure Act (ILSFDA or ILSA)
The Interstate Land Sales Full Disclosure Act was passed in 1968. It is
administered by the Consumer Financial Protection Bureau (CFPB).
The trustee in a deed of trust:
A. Writes the contract for the buyer
B. Shows the property to the buyer
C. Forecloses on the property in the event of default
D. Collects the monthly payments Right Ans - C. Forecloses on the property
in the event of default
The trustee in a deed of trust forecloses on the property if the borrower gets
behind on the payments. The trustee also releases the lien when the borrower
has completely paid for the property.
Removing the original borrower's name from the contract and substituting
the new buyers name is called:
A. Novation
B. Substitute
C. Covenants
D. Subdividing Right Ans - A. Novation
Novation of parties substitutes a new name for the name that was on the
contract. A novation of contracts substitutes a new contract for original
contract.
The right to redeem the property before a mortgage foreclosure sale is called:
A. Equitable redemption
B. Buyer redemption
C. Statutory redemption
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