Quiz When a person receives property from another, the recipient is called the: A) grantor. B) mortgagor. C) grantee. D) decedent.

Size: px
Start display at page:

Download "Quiz When a person receives property from another, the recipient is called the: A) grantor. B) mortgagor. C) grantee. D) decedent."

Transcription

1 Quiz 6 A) evidentiary notice. B) clear notice. C) constructive notice. D) actual notice. A) seller. B) lender. C) purchaser. D) adjoining landowners. 3. In a general warranty deed, the grantor warrants that title to the property is sufficiently clear so as to be described as: A) unencumbered. B) cloudless. C) absolute. D) merchantable (marketable). 4. Which of the following is not a requirement of a valid deed? A) The execution of the deed by the grantors. B) An adequate legal description of the property to be conveyed. C) The delivery and acceptance of the deed during the grantor's lifetime. D) The acknowledgment of signatures by a notary public. 5. When a person receives property from another, the recipient is called the: A) grantor. B) mortgagor. C) grantee. D) decedent. 6. A special warranty deed: A) is a full-covenant deed. B) warrants only against defects occurring during grantee's ownership. C) warrants only against defects occurring during grantor's ownership. D) makes no warranty at all. c:\lotus\work\wordpro\exams Chapter 6 Page 1

2 7. Which of the following is not a requirement for a valid deed? A) Words of conveyance. B) Identity of the grantee. C) Recordation. D) Consideration. 8. A search of the public records reveals the following encumbrances are recorded against a property: December 5, 1980, a mechanic's lien for $2,250; December 5, 1980, a judgment lien for $2,250 entered by the court; January 1, 1988, a $78,500 promissory note secured by a deed of trust instrument; February 27, 1990, a $25,700 equity loan promissory note; August 29, 1991, a $3,900 ad valorem tax lien. Which lien must be paid first? A) The lien for the largest dollar amount remaining unpaid. B) The August 29, 1991, ad valorem lien. C) The December 5, 1980, judgment lien because judgment liens take priority over other liens of equal chronological date. D) The January 1, 1988, promissory note since it is chronologically the oldest unsatisfied voluntary lien. A) cloud. B) gap. C) quiet title action. D) flaw. 10. Which type of deed creates the greatest potential liability for the grantor? A) Trustee's deed. B) Bargain and sale deed. C) Quitclaim deed. D) General warranty deed. 11. Constructive notice of a real estate title transfer is achieved by: A) assertion of a claim under oath in open court. B) possession, occupancy, and open public activity, such as constructing a building on the property, so that any interested C) recordation in the public records. D) direct verbal communication of the fact to every party making inquiry. 12. A declaration made by a person before a public officer that he/she c:\lotus\work\wordpro\exams Chapter 6 Page 2

3 freely and voluntarily executed a deed or other instrument is called an: A) acknowledgment. B) execution. C) notary public. D) authentication. 13. A quitclaim deed conveys the interest of the: A) grantee. B) record title holder. C) trustee. D) grantor. A) consideration. B) legal description. C) grantee's signature. D) grantor's signature. 15. The term "quieting title" refers to a: A) court action to determine the rightful titleholder or to clear a cloud on the title. B) mortgagor signing over title to the mortgagee in lieu of foreclosure proceedings. C) title search performed by a title insurance company. D) grantor's attorney clearing a title cloud. 16. Which of the following would always be found by searching the recorded documents at a county courthouse? A) Encroachments. B) Perfected mechanic's liens. C) Parol contracts. D) Rights of parties in possession. 17. The main difference between a general warranty deed and a quitclaim deed is the warranty deed: A) asserts seisin whereas no such claim is made by the quitclaim grantor. B) guarantees a completely unencumbered title whereas the quitclaim grantor warrants title against only undisclosed encumbrances. C) provides a series of covenants (promises) whereas the quitclaim grantor provides only one promise. D) will always be superior to the quitclaim conveyance regardless of date of recordation. 18. Which deed provides the best warranty for the grantee? A) Trustee's deed. c:\lotus\work\wordpro\exams Chapter 6 Page 3

4 B) Bargain and sale deed. C) General warranty deed. D) Quitclaim deed. 19. To be lawful, a deed must be executed by the: A) Grantor. B) Grantee. C) Notary public. D) Recorder of deeds. 20. When two or more deeds exist, both purporting to convey title to the same property, which deed will be enforced? The deed that: A) was signed first. B) was delivered first. C) was recorded first. D) recites the highest amount of consideration. 21. The will states that in recognition of your devoted service as an employee, you are to receive the decedent's automobile. This gift of personal property is a: A) bequest. B) devise. C) descent. D) benefactor. 22. To acquire property through adverse possession, one must occupy the property for the statutory period of time: A) continuously and secretly. B) intermittently and openly. C) continuously and openly. D) sporadically and secretly. 23. A gift of real property by will is known as a: A) devise. B) conveyance. C) donation. D) covenant. 24. The habendum clause in a deed can best be described as the: A) acknowledgment clause. B) have and to hold clause. C) consideration clause. D) warranty of seizin clause. 25. In which one of the following situations would it NOT be appropriate for the parties to use a quit claim deed? c:\lotus\work\wordpro\exams Chapter 6 Page 4

5 B) To transfer title without any title guarantee or warranty whatsoever. C) To convey non-freehold estate. D) To change an incorrect legal description in a previously recorded deed. 26. All of the following deeds are valid, EXCEPT: B) a fictitious person. C) a duly incorporated corporation. D) a deed to a partnership having more than two principals. 27. Which of the following would always be found by a careful search of A) Encroachments. B) Perfected mechanic's liens. C) Rights of parties in possession. D) Implied easements. 28. A public record of the recorded real estate subdivisions within a governmental district is contained in: A) an abstract. B) a plat book. C) a survey. D) a county map. 29. How often are the premiums paid on an owner's title insurance policy? A) Annually. B) Once. C) Monthly. D) Quarterly. 30. How often are the premiums paid on a lender's title insurance policy? A) Annually. B) Once. C) Monthly. D) Quarterly. 31. When the decedent's property is transferred to his/her heirs, the title that is received: A) automatically becomes a fee simple estate. c:\lotus\work\wordpro\exams Chapter 6 Page 5

6 B) becomes better than that held by the decedent. C) is unencumbered. D) retains the same limitations and restrictions as were previously held by the decedent. 32. When an occupant whose possession has been actual, open, notorious, uninterrupted, and exclusive for the statutory period, seeks to acquire title to another person's land in an action to "quiet title," the process is based on what power or statute? A) Eminent domain. B) Adverse possession. C) Escheat. D) Prescription. 33. For a deed to be valid, it must be: A) delivered. B) recorded. C) signed. D) acknowledged. 34. Anticipating the closing would occur soon, the grantor executed the deed several days in advance and deposited it in the hands of the closing agent. Such a deed will be: A) invalid and not enforceable. B) valid as long as it is recorded. C) valid upon delivery. D) invalid if not recorded within 10 days. 35. All of the following are included in a deed, EXCEPT a: A) granting clause. B) recitation of consideration. C) legal description. D) signature of grantee. 36. A person acquiring real property by deed is: A) a vendee. B) a grantee. C) a devisor. D) a trustor. 37. The covenants contained in a quit claim deed include: A) a warranty of seizin. B) a warranty of quiet enjoyment. C) a warranty against undisclosed encumbrances. D) None of these. c:\lotus\work\wordpro\exams Chapter 6 Page 6

7 38. Presuming a proper execution of the deed, the title is transferred: A) when the payment is delivered and accepted. B) when the deed is delivered and accepted. C) when the abstract is delivered and extended. D) when the deed is recorded. 39. Which deed creates the least liability for the grantor? A) Quitclaim deed B) Bargain and sale deed C) Special warranty deed D) General warranty deed 40. When a future use limitation is placed in a deed, it is called: A) a deed restriction. B) a covenant, condition, and restriction (CC&R). C) a statute of limitation. D) a defeasance clause. 41. Real property transferred by a testate death is called a A) legacy. B) descent. C) devise. D) bequest. 42. A parcel of land that measures one-half mile by one-half mile is equivalent to: A) 40 acres. B) 80 acres. C) 160 acres. D) 320 acres. 43. The length of the south boundary of the NW 1/4 of the SW l/4 is: A) 1,320 feet. B) 1,790 feet. C) 2,640 feet. D) 5,280 feet. 44. In the governmental rectangular survey, a normal section is one square mile; thus the SE 1/2 of the NE 1/4 of the SW 1/4 would measure: A) 5,280 feet by 5,280 feet. B) 2,640 feet by 2,640 feet. c:\lotus\work\wordpro\exams Chapter 6 Page 7

8 C) 1,320 feet by 1,320 feet. D) 660 feet by 1,320 feet. 45. In the governmental rectangular survey, a normal section contains 640 acres; thus a 1/8 section would have: A) 640 acres B) 320 acres C) 160 acres D) 80 acres 46. All of following are true of metes and bounds using monuments property descriptions, EXCEPT: A) the system is established on meridians and base lines. B) these surveys are typically not very accurate. C) the survey can utilize both natural and artificial monuments. D) there is a point of beginning. 47. In the government rectangular survey, a typical parcel six miles square would: A) be a range. B) be a section. C) be a check. D) contain 36 sections. 48. The word "metes" in a metes and bounds description refers to: A) the streets on the property. B) the corners of the property. C) the measurement of distances. D) the direction of travel. 49. Which of the following is associated with the governmental rectangular survey? A) A tier is a row of townships extending north or south of the base line. B) An acre contains 43,560 square feet. C) A check contains 36 sections. D) A range line is a strip of land 6 miles wide running east or west of the meridian. 50. In the governmental rectangular survey, why were correction lines utilized? B) To correct the inaccuracy caused by hills and ravines. C) To compensate for the curvature of the earth. D) To compensate for the land that was ignored due to a shallow flowing stream. c:\lotus\work\wordpro\exams Chapter 6 Page 8

9 51. The measurement and establishment of the boundaries of a particular property, usually associated with the placing of metal stakes in the ground to designate the boundaries of the lot, is called a: A) bound post. B) survey. C) monument or marker. D) platting. 52. Of the following title defects, which one would ordinarily be A) A notice of lis pendens. B) A deed delivered after death of grantor. C) A forged satisfaction piece. D) A missing heir. 53. For the mortgagor, what kind of protection is afforded by a comprehensive title insurance policy? I. Protection against any defect in title that results in loss of the owner's equity. II. Payment of the amount of outstanding principal loan balance owed to a lender. A) I only. B) II only. C) Both I and II. D) Neither I nor II. 54. Which best depicts an involuntary alienation of real property? A) A general warranty deed. B) A deed of dedication. C) A devise in a will. D) A condemnation action. Quiz 6 1. Ans: C c:\lotus\work\wordpro\exams Chapter 6 Page 9

10 2. Ans: B 3. Ans: D 4. Ans: D 5. Ans: C 6. Ans: C 7. Ans: C 8. Ans: B 9. Ans: B 10. Ans: D 11. Ans: C 12. Ans: A 13. Ans: D 14. Ans: C 15. Ans: A 16. Ans: B 17. Ans: A 18. Ans: C 19. Ans: A 20. Ans: C 21. Ans: A 22. Ans: C 23. Ans: A 24. Ans: B 25. Ans: C 26. Ans: B 27. Ans: B 28. Ans: B 29. Ans: B 30. Ans: B 31. Ans: D 32. Ans: B 33. Ans: A 34. Ans: C 35. Ans: D 36. Ans: B 37. Ans: D 38. Ans: B 39. Ans: A 40. Ans: A 41. Ans: C 42. Ans: C 43. Ans: A 44. Ans: D 45. Ans: D 46. Ans: A 47. Ans: D c:\lotus\work\wordpro\exams Chapter 6 Page 10

11 48. Ans: C 49. Ans: B 50. Ans: C 51. Ans: B 52. Ans: A 53. Ans: D 54. Ans: D c:\lotus\work\wordpro\exams Chapter 6 Page 11

11. What is the difference between easement by necessity and easement by prescription?

11. What is the difference between easement by necessity and easement by prescription? In class work with answers for chapter 7-14 1. What does it mean for the government to have governmental powers? Government powers supersede individual rights to real estate for the protection of the general

More information

Title Transfer. When the title changes hands, this is called alienation.

Title Transfer. When the title changes hands, this is called alienation. Transfer 1 Title Transfer When the title changes hands, this is called alienation. 2 Involuntary Alienation Involuntary Transfer of Title Without the owner s consent. 3 Involuntary Transfer of Title The

More information

Sales Associate Course. Titles, Deeds and Ownership Restrictions

Sales Associate Course. Titles, Deeds and Ownership Restrictions Sales Associate Course Chapter Nine Titles, Deeds and Ownership Restrictions Copyright Gold Coast Schools 1 Title to Real Property Title - ownership enforceable by law Equitable title right to gain ownership

More information

Escrow & Evidence of Title Evidence of Title Chapter 13 Escrow Grantor / Grantee Index Escrow May Be Rendered by: Escrow Performs Such Duties as:

Escrow & Evidence of Title Evidence of Title Chapter 13 Escrow Grantor / Grantee Index Escrow May Be Rendered by: Escrow Performs Such Duties as: Escrow & Evidence of Title Chapter 13 Escrow Escrow acts as a neutral third party. Hawaii s Escrow Act of 1967: Maintain a minimum net capital or obtain bonding. Be a corporation. Subject to annual audit.

More information

Escrow & Evidence of Title

Escrow & Evidence of Title Escrow & Evidence of Title 1 Chapter 13 2 Escrow Escrow acts as a neutral third party. Hawaii s Escrow Act of 1967: Maintain a minimum net capital or obtain bonding. Be a corporation. Subject to annual

More information

1. DEEDS & TRANSFER. I. Definitions

1. DEEDS & TRANSFER. I. Definitions 1. DEEDS & TRANSFER I. Definitions II. A. Deed: The evidence of ownership of all the real property which is inside the property boundaries as defined by the property description in the deed. In a transfer

More information

1. The earliest method of transferring title to real property was by the of by the owner to another.

1. The earliest method of transferring title to real property was by the of by the owner to another. CHAPTER 7 SHORT-ANSWER QUESTIONS 1. The earliest method of transferring title to real property was by the of by the owner to another. 2. There are at present four basic ways land can be transferred from

More information

ADMINISTRATOR: A person appointed by a probate court to settle the affairs of a deceased person who had no will. See "personal representative".

ADMINISTRATOR: A person appointed by a probate court to settle the affairs of a deceased person who had no will. See personal representative. COMMON TERMS ACCESS: The right to enter and leave a tract of land to or from a public right of way, often necessitating the right to cross lands privately owned by others. ACKNOWLEDGMENT: The act by which

More information

National Practice Questions. II. Forms of Ownership, Transfer, and Recording of Title

National Practice Questions. II. Forms of Ownership, Transfer, and Recording of Title National Practice Questions II. Forms of Ownership, Transfer, and Recording of Title 1. John gave a house to his daughters Mary and Sally. Sally dies. Mary inherits all of the house over the objections

More information

Chapter 13 Questions Title Records

Chapter 13 Questions Title Records Chapter 13 Questions Title Records 1. Which of the following is acceptable evidence of marketable title? a. A trust deed b. A warranty deed c. A title insurance policy d. An affidavit 2. When a claim is

More information

Chapter 8: Deeds and Transfer of Title

Chapter 8: Deeds and Transfer of Title Chapter 8: Deeds and Transfer of Title An * in the left margin indicates a change in the statute, rule or text since the last publication of the manual. I. Introduction Before the modern-day concept of

More information

OWNERSHIP (REAL PROPERTY CHARACTERISTICS, DEFINITIONS, OWNERSHIP, RESTRICTIONS, AND TRANSFER) PERSONAL PROPERTY (personalty or chattel)

OWNERSHIP (REAL PROPERTY CHARACTERISTICS, DEFINITIONS, OWNERSHIP, RESTRICTIONS, AND TRANSFER) PERSONAL PROPERTY (personalty or chattel) OWNERSHIP (REAL PROPERTY CHARACTERISTICS, DEFINITIONS, OWNERSHIP, RESTRICTIONS, AND TRANSFER) Property is everything subject to ownership (also known as title). Tangible (corporeal) means physical items

More information

1. A is a legal document used to transfer ownership rights to real estate from one party to another. a. plat b. lease c. sales contract d.

1. A is a legal document used to transfer ownership rights to real estate from one party to another. a. plat b. lease c. sales contract d. Chapter 5 Multiple Choice Questions / Page 1 Chapter 5 Multiple Choice Questions 1. A is a legal document used to transfer ownership rights to real estate from one party to another. a. plat b. lease c.

More information

Section 4.1 LAND TITLE

Section 4.1 LAND TITLE Section 4.1 LAND TITLE PURPOSE... 4-1-1 AUTHORITY... 4-1-1 SCOPE... 4-1-1 REFERENCES... 4-1-1 TRAINING... 4-1-2 FORMS... 4-1-2 DEFINITIONS... 4-1-2 4.1.1 QUALITY AND QUANTITY OF TITLE... 4-1-3 4.1.2 TITLE

More information

Chapter 52 Transfer and Control of Real Property

Chapter 52 Transfer and Control of Real Property Chapter 52 Transfer and Control of Real Property A. Contract of Sale Marketable Title Title free from 1. encumbrances (such as mortgages, easements, liens, leases, and restrictive covenants) 2. defects

More information

5 Encumbrances and Liens

5 Encumbrances and Liens 5 Encumbrances and Liens Encumbrances Easements Encroachments Licenses Deed Restrictions Liens Foreclosure ENCUMBRANCES An encumbrance is an interest in and right to real property that limits the legal

More information

PROPERTY MANAGEMENT AASHTO MINNEAPOLIS, MINNESOTA

PROPERTY MANAGEMENT AASHTO MINNEAPOLIS, MINNESOTA PROPERTY MANAGEMENT AASHTO MINNEAPOLIS, MINNESOTA BEST PRACTICES OF DISPOSAL PROCESSES REVIEW OF 4 COMMON DEEDS IN REAL ESTATE As property managers and realtors we may want to review the various types

More information

Sample General Warranty Deed

Sample General Warranty Deed Sample General Warranty Deed Warranty Deed¹ NOTICE: Prepared by the State Bar for use by Lawyers only.² The State of County of 3 KNOW ALL MEN BY THESE PRESENTS: That GRANTOR 4 and GRANTOR S SPOUSE 5 of

More information

Real Estate Records. and what they are

Real Estate Records. and what they are Real Estate Records and what they are Why record documents? Recording is Public notice for every transaction relating to the property. This is constructive notice whether or not the person has actual notice.

More information

Lesson 5: Encumbrances. Encumbrances. Real Estate Principles of Georgia. Encumbrances. Financial vs. Non-financial

Lesson 5: Encumbrances. Encumbrances. Real Estate Principles of Georgia. Encumbrances. Financial vs. Non-financial Real Estate Principles of Georgia Lesson 5: Encumbrances 1 of 64 105 Encumbrances Encumbrance: A nonpossessory interest in real property held by someone other than the owner. Does not give ownership or

More information

Glossary of Terms Greenville County Register of Deeds

Glossary of Terms Greenville County Register of Deeds Glossary of Terms Greenville County Register of Deeds Disclaimer: This glossary of terms was compiled by Greenville County solely as a public service. Greenville County does not warrant the accuracy of

More information

KANSAS 24 HOUR BROKER PRE-LICENSE COURSE

KANSAS 24 HOUR BROKER PRE-LICENSE COURSE KANSAS 24 HOUR BROKER PRE-LICENSE COURSE NAVIGATION CONTROLS In the bottom right hand corner of the screen, there is an icon button that allows you to choose between standard screen, no sidebar screen

More information

MISSOURI 48 HOUR BROKER PRE-LICENSE COURSE

MISSOURI 48 HOUR BROKER PRE-LICENSE COURSE MISSOURI 48 HOUR BROKER PRE-LICENSE COURSE NAVIGATION CONTROLS In the bottom right hand corner of the screen, there is an icon button that allows you to choose between standard screen, no sidebar screen

More information

Glossary of Title and Real Estate Terms

Glossary of Title and Real Estate Terms Glossary of Title and Real Estate Terms Abstract- A history of all transactions shown in the public records affecting a particular tract of land. Abstract Plant- See Title Plant. Adjustable Rate Mortgage

More information

Module 3: Legal Issues

Module 3: Legal Issues Module 3: Legal Issues Glossary Abstract of Title: An abstract is a summary of all actions relating to the history of a property. Liens, zoning changes, judgments, and recorded easements are some of the

More information

THIS CONVEYANCE IS SUBJECT TO

THIS CONVEYANCE IS SUBJECT TO Page 1 of 10 Return signed document to: Property Agent Real Property Section 115 S. Andrews Avenue, Room 326 Fort Lauderdale, FL 33301 Formatted: Top: 1.19" Field Code Changed This instrument prepared

More information

MSBA Real Property Title Standards

MSBA Real Property Title Standards Table of Contents New one sent in 2009 11/14/2009 Third Page Only 11/13/2010 New one in 2012 updates, sent April 2013 11/14/2012 No. 1 Names Sounding the Same - Idem Sonans 6/22/2001 No. 2 Omission of

More information

Declaration of Lien Interest - Instructions

Declaration of Lien Interest - Instructions Declaration of Lien Interest - Instructions The Declaration of Lien Interest enforces the repayment of the outstanding assistance in the event of a refinance of the first mortgage, sale of the home, or

More information

SCHEDULE A. Name and Address of Title Insurance Company: Pappas Law & Title 1822 N. Belcher Road Suite 200, Clearwater, Florida 33765

SCHEDULE A. Name and Address of Title Insurance Company: Pappas Law & Title 1822 N. Belcher Road Suite 200, Clearwater, Florida 33765 SCHEDULE A Name and Address of Title Insurance Company: Pappas Law & Title 1822 N. Belcher Road Suite 200, Clearwater, Florida 33765 File No.: 16-4402 1. Effective Date: September 01, 2016 @ 05:00 PM 2.

More information

THE ESSENTIALS. Essential Elements of Value Demand Utility or usefulness Scarcity Transferability

THE ESSENTIALS. Essential Elements of Value Demand Utility or usefulness Scarcity Transferability LEARNING AIDS THE ESSENTIALS Essential Elements of a Deed Intent of the Grantor Names of the Parties Description of the Property Granting Clause Consideration In Writing Signature of the Grantor DELIVERY

More information

ELEMENTS OF REAL PROPERTY

ELEMENTS OF REAL PROPERTY ELEMENTS OF REAL PROPERTY Real property consists of: Land: including the soil on the surface of the earth, all of the water, minerals, oil, and gas contained on or below the surface, and most of the airspace

More information

Understanding Real Property Interests and Deeds» By Brad Dashoff and John Antonacci. Understanding Real Property Interests and Deeds

Understanding Real Property Interests and Deeds» By Brad Dashoff and John Antonacci. Understanding Real Property Interests and Deeds A service of the ABA General Practice, Solo & Small Firm Division Law Trends & News PRACTICE AREA NEWSLETTER REAL ESTATE Understanding Real Property Interests and Deeds» By Brad Dashoff and John Antonacci

More information

NATIONAL INTERACTIVE STUDY GROUP UNIT 3 QUESTIONS

NATIONAL INTERACTIVE STUDY GROUP UNIT 3 QUESTIONS NATIONAL INTERACTIVE STUDY GROUP UNIT 3 QUESTIONS National Interactive Study Group 2 SESSION 3 JOHN MATHIS Notes for Tonight 3 1. To MUTE your phone line use *6 2. To UNMUTE your phone line use #6 3. Chat

More information

COMMERICAL PURCHASE AGREEMENT

COMMERICAL PURCHASE AGREEMENT COMMERICAL PURCHASE AGREEMENT Each commercial transaction is different. This form may not address your specific purpose. This is a legally binding document. If not understood, seek competent advice before

More information

1. A bill of sale is used to transfer the ownership of. a. real property b. fixtures c. appurtenances d. personal property

1. A bill of sale is used to transfer the ownership of. a. real property b. fixtures c. appurtenances d. personal property 1. A bill of sale is used to transfer the ownership of a. real property b. fixtures c. appurtenances d. personal property D. PERSONAL PROPERTY 2. The uniqueness of land and its inability to be substituted

More information

National Interactive Study Group

National Interactive Study Group National Interactive Study Group 1 BOBRA TAHAN HOWARD HARRIS UNIT 2 https://www.kapre.com/nationalinteractivestudygroup Notes for Tonight 2 Chat is the best way to communicate questions. CONTACT INFORMATION

More information

CHAPTER 7 - DEEDS and EVIDENCE OF TITLE

CHAPTER 7 - DEEDS and EVIDENCE OF TITLE DEEDS CHAPTER 7 - DEEDS and EVIDENCE OF TITLE Notes: GENERAL In ancient times before the development of our rather complex concept of land ownership, title to real estate was evidenced primarily by possession

More information

PURCHASE AND SALE AGREEMENT

PURCHASE AND SALE AGREEMENT PURCHASE AND SALE AGREEMENT THIS AGREEMENT made this day of July, 2017, by and between JPMCC 2011- C5 APPLETREE MALL LLC, having an address at c/o Torchlight Loan Services, 475 5th Avenue, 10 th Floor,

More information

Policy Amount. Proposed Insured: Purchaser with contractual rights under a purchase agreement with the vested owner identified at Item 4 below

Policy Amount. Proposed Insured: Purchaser with contractual rights under a purchase agreement with the vested owner identified at Item 4 below FIDELITY NATIONAL TITLE INSURANCE COMPANY 800-943-1196 SCHEDULE A Prepared By: Boston National Title Agency, LLC 129 West Trade St, 9th Floor Charlotte NC 28202 Loan No.: Title No.: 1. Effective date:

More information

UNIT 2: BOBRA TAHAN HOWARD HARRIS

UNIT 2: BOBRA TAHAN HOWARD HARRIS NATIONAL INTERACTIVE STUDY GROUP 1 UNIT 2: BOBRA TAHAN HOWARD HARRIS Study Group Information 2 Information regarding the Study Group may be found at: www.kapre.com/nationalinteractivestudygroup At this

More information

OWNERSHIP (REAL PROPERTY CHARACTERISTICS, DEFINITIONS, OWNERSHIP, RESTRICTIONS, AND TRANSFER) PERSONAL PROPERTY (personalty or chattel)

OWNERSHIP (REAL PROPERTY CHARACTERISTICS, DEFINITIONS, OWNERSHIP, RESTRICTIONS, AND TRANSFER) PERSONAL PROPERTY (personalty or chattel) OWNERSHIP (REAL PROPERTY CHARACTERISTICS, DEFINITIONS, OWNERSHIP, RESTRICTIONS, AND TRANSFER) Property is everything subject to ownership (also known as title). Tangible (corporeal) means physical items

More information

VIRGINIA ASSOCIATION OF REALTORS Commercial Purchase Agreement

VIRGINIA ASSOCIATION OF REALTORS Commercial Purchase Agreement VIRGINIA ASSOCIATION OF REALTORS Commercial Purchase Agreement Each commercial transaction is different. This form may not address your specific purpose. This is a legally binding document. If not understood,

More information

LEGAL CONSIDERATIONS IN APPRAISAL (from:

LEGAL CONSIDERATIONS IN APPRAISAL (from: Chapter 1: PROPERTY AND LEGAL DESCRIPTIONS The first thing an appraiser must determine is what property rights are being appraised. At the beginning of any discussion about property, it is important to

More information

Real Estate Fundamentals (National Portion) Student Manual

Real Estate Fundamentals (National Portion) Student Manual Real Estate Fundamentals (National Portion) Student Manual For Use with the PowerPoint/Audio Course Format Recommended Textbook: Real Estate Principles Roy L. Ponthier, Ph.D., Ed.D., CDEI, DREI Executive

More information

ABSTRACT OF JUDGMENT: A condensation or summary of the essential provision of a court

ABSTRACT OF JUDGMENT: A condensation or summary of the essential provision of a court ABSTRACT OF JUDGMENT: A condensation or summary of the essential provision of a court judgment. ABSTRACT OF TITLE: A summary of the condition of title based on an examination of public records. ACCELERATION

More information

MBA535 - Instructor s Outline and Notes. Module 2

MBA535 - Instructor s Outline and Notes. Module 2 MBA535 - Instructor s Outline and Notes Module 2 1. What object other than land may be deemed real property within the context of the law? Real property fundamentally is land. However, land itself is merely

More information

INTRODUCTION. Learning Objectives

INTRODUCTION. Learning Objectives INTRODUCTION You need an organized system for keeping track of property ownership to determine who owns what, and how ownership can be transferred. Of course, the system, which serves you as a real estate

More information

Sample Exam 1 Textbook Rationales

Sample Exam 1 Textbook Rationales Sample Exam 1 Textbook Rationales 1. b A recorded mortgage constitutes a lien on a property. 2. a It is voidable by the party who is currently the minor. It also would be enforceable by that party. 3.

More information

DEED OF TRUST (For use in the State of Washington only)

DEED OF TRUST (For use in the State of Washington only) When recorded return to: DEED OF TRUST (For use in the State of Washington only) THIS DEED OF TRUST, made this day of between as GRANTOR(S),, and as TRUSTEE, and as BENEFICIARY, WITNESSETH: Grantor(s)

More information

MORTGAGE. THIS INSTRUMENT ( Mortgage )

MORTGAGE. THIS INSTRUMENT ( Mortgage ) MORTGAGE THIS INSTRUMENT ( Mortgage ) WITNESSES That and, whose address is (individually, collectively, jointly, and severally, Mortgagor ), in consideration of One Dollar ($1) and other good and valuable

More information

Texas Real Estate Law

Texas Real Estate Law Table of Contents MODULE 8: TITLES AND RECORDS... 3 MODULE DESCRIPTION... 3 MODULE LEARNING OBJECTIVES... 4 KEY TERMS... 4 LESSON 1: PUBLIC RECORDS AND RECORDINGS... 9 LESSON TOPICS... 9 INTRODUCTION...

More information

Litigation of Surveying Court Cases. Daniel Duyck

Litigation of Surveying Court Cases. Daniel Duyck Litigation of Surveying Court Cases Daniel Duyck Daniel Duyck Whipple & Duyck, PC Attorneys at Law 503-222-6191 dduyck@whippleduyck.com www.whippleduyck.com How Property is Held in Oregon Fee Simple Life

More information

THIS DEED OF TRUST, ASSIGNMENT OF RENTS AND LEASES, AND SECURITY AGREEMENT ("Deed of Trust") is made this day of, ("Grantor"), whose

THIS DEED OF TRUST, ASSIGNMENT OF RENTS AND LEASES, AND SECURITY AGREEMENT (Deed of Trust) is made this day of, (Grantor), whose i Recording Requested By and When Recorded Mail To: Tacoma Sewer Utility Conservation Loan Program 2201 Portland A venue Tacoma, Washington 98421 DEED OF TRUST, ASSIGNMENT OF RENTS AND LEASES AND SECURITY

More information

A13. Real Estate Fundamentals: A Primer for New Land Trust Staff. Room 407. Session Faculty: Steve Swartz

A13. Real Estate Fundamentals: A Primer for New Land Trust Staff. Room 407. Session Faculty: Steve Swartz A13. Real Estate Fundamentals: A Primer for New Land Trust Staff Friday, October 12 10:30 a.m. - Noon Room 407 Session Faculty: Steve Swartz Rally 2018: The National Land Conservation Conference Pittsburgh,

More information

Deeds: Topics to be Covered. Deeds MAY (but Need Not) Include: Valid Deed MUST Include:

Deeds: Topics to be Covered. Deeds MAY (but Need Not) Include: Valid Deed MUST Include: Deeds: Topics to be Covered What a deed is (and is not) Types of deeds Contents of deeds Mandatory contents Optional contents Special/idiosyncratic requirements Impact of errors in the preparation/execution

More information

DEED OF TRUST (For use in the State of Washington only)

DEED OF TRUST (For use in the State of Washington only) When recorded return to: DEED OF TRUST (For use in the State of Washington only) THIS DEED OF TRUST, made this day of between as GRANTOR(S),, and as TRUSTEE, and as BENEFICIARY, WITNESSETH: Grantor(s)

More information

MODULE 8-2: REAL ESTATE TAX LIENS

MODULE 8-2: REAL ESTATE TAX LIENS MODULE 8-2: REAL ESTATE TAX LIENS LEARNING OBJECTIVES When you have finished reading this chapter in your text, you should be able to: Identify the various classifications of liens. Describe how real estate

More information

11/5/2015. Kevin Heaney, Crowley Fleck, PLLP. Montana Land Title Association Fall Education Seminar

11/5/2015. Kevin Heaney, Crowley Fleck, PLLP. Montana Land Title Association Fall Education Seminar Montana Land Title Association 2015 Fall Education Seminar The Difference Between Mortgages and Trust Indentures in the Foreclosure Process November 5, 2015 Kevin Heaney, Crowley Fleck, PLLP Familiarize

More information

QUIT CLAIM DEED (Pursuant to F. S )

QUIT CLAIM DEED (Pursuant to F. S ) Page 1 of 10 Return signed document to: M. Andrée Hammond, Asst. R.E. Officer Real Property Section 115 S. Andrews Avenue, Room 501 Fort Lauderdale, FL 33301 This instrument prepared by: Broward County

More information

Principles of Real Estate Chapter 16-Title Summary. Overview. Objectives. At the end of this chapter, the student will be able to:

Principles of Real Estate Chapter 16-Title Summary. Overview. Objectives. At the end of this chapter, the student will be able to: Principles of Real Estate Chapter 16-Title Summary This chapter will detail the recording and notice processes, explain the importance of title insurance, and explain the processes used to record title.

More information

REAL PROPERTY INTERESTS

REAL PROPERTY INTERESTS REAL PROPERTY INTERESTS Real and Personal Property In most instances the surveyor's concern of differences between real and personal property is of minimal interest, but to his client these differences

More information

California Real Estate License Exam Prep: Unlocking the DRE Salesperson and Broker Exam 4th Edition

California Real Estate License Exam Prep: Unlocking the DRE Salesperson and Broker Exam 4th Edition California Real Estate License Exam Prep: Unlocking the DRE Salesperson and Broker Exam 4th Edition ANSWER SHEET INSTRUCTIONS: The exam consists of multiple choice questions. Multiple choice questions

More information

Chapter 1: What is a Title? Sample Quiz

Chapter 1: What is a Title? Sample Quiz ALTA s Land Title Institute - Title 101 Chapter 1: What is a Title? Sample Quiz Page 1 of 5 Title 101 Chapter 1 Quiz Questions 1. Real estate is the foundation of all. a. Transportation b. Commerce c.

More information

NORTH CAROLINA DEED OF TRUST NORTH CAROLINA HOUSING FINANCE AGENCY $15,000 DPA Program Only

NORTH CAROLINA DEED OF TRUST NORTH CAROLINA HOUSING FINANCE AGENCY $15,000 DPA Program Only NORTH CAROLINA DEED OF TRUST NORTH CAROLINA HOUSING FINANCE AGENCY $15,000 DPA Program Only After recording, return the executed document back to the Originating Lender (not NCHFA) within 24 hours of closing.

More information

NORFOLK COUNTY REGISTRY OF DEEDS GLOSSARY OF TERMS

NORFOLK COUNTY REGISTRY OF DEEDS GLOSSARY OF TERMS NORFOLK COUNTY REGISTRY OF DEEDS GLOSSARY OF TERMS A B C D E F G H I J K L M N O P Q R S T U V W X Y Z A Abstract of Title A summary of records affecting title to a subject property. Acceptance Action

More information

EXAM REVIEW COURSE MANUAL

EXAM REVIEW COURSE MANUAL EXAM REVIEW COURSE MANUAL I. LEGAL ASPECTS A. PROPERTY 1. Real Property 2. Fixtures 3. Run with the Land 4. Personal Property B. ESTATES 1. Freehold a. Fee Simple Estates (Fee Estate) b. Fee Simple Defeasible

More information

BLUEPRINT REAL ESTATE POLICY

BLUEPRINT REAL ESTATE POLICY DATE September 19,2007 TITLE BLUEPRINT REAL ESTATE POLICY ORG. AGENCY Blueprint Intergovernmental Agency APPROVED.01 STATEMENT OF POLICY The purpose of this administrative regulation is to establish a

More information

REAL ESTATE CONTRACT (A&M SYSTEM - SELLER)

REAL ESTATE CONTRACT (A&M SYSTEM - SELLER) REAL ESTATE CONTRACT (A&M SYSTEM - SELLER) This Real Estate Contract (this Contract ) is made and entered into by and between the BOARD OF REGENTS OF THE TEXAS A&M UNIVERSITY SYSTEM, an agency of the State

More information

DEED OF TRUST (For use in the State of Washington only)

DEED OF TRUST (For use in the State of Washington only) When recorded return to: DEED OF TRUST (For use in the State of Washington only) THIS DEED OF TRUST, made this day of between as GRANTOR(S),, and as TRUSTEE, and as BENEFICIARY, WITNESSETH: Grantor(s)

More information

BNT Escrow Services, LLC

BNT Escrow Services, LLC BNT Escrow Services, LLC American Land Title Association ALTA Commitment Form Adopted 6-17-06 CHICAGO TITLE INSURANCE COMPANY 800-943-1196 SCHEDULE A Prepared By: BNT Escrow Services, LLC Loan No.: Title

More information

Boston National Title Agency, LLC. 129 West Trade St, 9th Floor. Charlotte NC 28202

Boston National Title Agency, LLC. 129 West Trade St, 9th Floor. Charlotte NC 28202 Boston National Title Agency, LLC 129 West Trade St, 9th Floor Charlotte NC 28202 FIDELITY NATIONAL TITLE INSURANCE COMPANY 800-943-1196 Prepared By: Boston National Title Agency, LLC 129 West Trade St,

More information

PURCHASE AND SALE AGREEMENT

PURCHASE AND SALE AGREEMENT PURCHASE AND SALE AGREEMENT This Purchase and Sale Agreement (this Agreement ) made and entered into as of the day of, 2017 (the Effective Date ), by and between the Greenville County Library System (the

More information

Boston National Title Agency, LLC. 129 West Trade St, 9th Floor. Charlotte NC 28202

Boston National Title Agency, LLC. 129 West Trade St, 9th Floor. Charlotte NC 28202 Boston National Title Agency, LLC 129 West Trade St, 9th Floor Charlotte NC 28202 American Land Title Association ALTA Commitment Form Adopted 6-17-06 CHICAGO TITLE INSURANCE COMPANY 800-943-1196 SCHEDULE

More information

Policy Amount. Proposed Insured: Purchaser with contractual rights under a purchase agreement with the vested owner identified at Item 4 below

Policy Amount. Proposed Insured: Purchaser with contractual rights under a purchase agreement with the vested owner identified at Item 4 below FIDELITY NATIONAL TITLE INSURANCE COMPANY 800-943-1196 SCHEDULE A Prepared By: BNT of Alabama, LLC Loan No.: Title No.: 1. Effective date: 19th day of January, 2018 Issue Date: 01/25/2018 This Title Insurance

More information

National Interactive Study Group

National Interactive Study Group National Interactive Study Group 1 SESSION 3 BOBRA TAHAN HOWARD HARRIS https://www.kapre.com/nationalinteractivestudygroup Notes for Tonight 2 Chat is the best way to communicate questions. CONTACT INFORMATION

More information

LEASEHOLD MORTGAGE. Mortgagor and Mortgagee agree as follows:

LEASEHOLD MORTGAGE. Mortgagor and Mortgagee agree as follows: LEASEHOLD MORTGAGE This LEASEHOLD MORTGAGE is made this day of, 2011, by and between Four-G, LLC, a Kansas Limited Liability Company, of Wichita, Kansas, (hereinafter Mortgagor ), having its principal

More information

CHAPTER 1: THE CONCEPT OF PROPERTY RELATED TO WILLS, TRUSTS, AND ESTATE ADMINISTRATION

CHAPTER 1: THE CONCEPT OF PROPERTY RELATED TO WILLS, TRUSTS, AND ESTATE ADMINISTRATION CHAPTER 1: THE CONCEPT OF PROPERTY RELATED TO WILLS, TRUSTS, AND ESTATE ADMINISTRATION MATCHING a. chattel b. chose in action c. nonprobate property d. intestate succession statutes e. joint tenants f.

More information

Physical Encumbrances

Physical Encumbrances Physical Encumbrances Types of physical encumbrances include (1) deed restrictions, (2) easements, and (3) encroachments. D eed restrictions A major package of private deed restriction are covenants, conditions

More information

CONTRACT TO PURCHASE

CONTRACT TO PURCHASE CONTRACT TO PURCHASE This CONTRACT TO PURCHASE is entered into this day of, 20 by and between Buffalo Erie Niagara Land Improvement Corporation, a New York not-for-profit corporation having an office for

More information

Policy Amount. Proposed Insured: Purchaser with contractual rights under a purchase agreement with the vested owner identified at Item 4 below $0.

Policy Amount. Proposed Insured: Purchaser with contractual rights under a purchase agreement with the vested owner identified at Item 4 below $0. FIDELITY NATIONAL TITLE INSURANCE COMPANY 800-943-1196 SCHEDULE A Prepared By: Boston National Title Agency, LLC 129 West Trade St, 9th Floor Charlotte NC 28202 1. Effective date: 26th day of March, 2018

More information

MOCK EXAM 1 Answer Key

MOCK EXAM 1 Answer Key MOCK EXAM 1 Answer Key 1. C Explanation: An open-end loan is one that permits the borrower to reborrow the money he has repaid on the principal, usually up to the original loan amount, without executing

More information

AGREEMENT FOR PURCHASE AND SALE OF VACANT LAND

AGREEMENT FOR PURCHASE AND SALE OF VACANT LAND AGREEMENT FOR PURCHASE AND SALE OF VACANT LAND Prepared by Elizabeth Hartman under subcontract with the City of Oshkosh December 2015 This document was prepared under contract with the East Central Wisconsin

More information

How a Lady Bird Deed Works. General Warranty Deeds. Special Warranty Deeds. The Difference Can Be Critical

How a Lady Bird Deed Works. General Warranty Deeds. Special Warranty Deeds. The Difference Can Be Critical How a Lady Bird Deed Works These deeds are also called enhanced life estate deeds. With a standard life estate deed, you could name a beneficiary to inherit your property while you keep ownership of it

More information

DEED OF TRUST PUBLIC TRUSTEE

DEED OF TRUST PUBLIC TRUSTEE DEED OF TRUST PUBLIC TRUSTEE THIS DEED OF TRUST is a conveyance in trust of real property to the Public Trustee of the county in Colorado in which the Property described below is located. It has been signed

More information

LIMITED PRACTICE OFFICER EXAM SUGGESTED STUDY TOPICS REVISED JULY 2009

LIMITED PRACTICE OFFICER EXAM SUGGESTED STUDY TOPICS REVISED JULY 2009 LIMITED PRACTICE OFFICER EXAM SUGGESTED STUDY TOPICS REVISED JULY 2009 The following suggested study topics have been prepared by the Limited Practice Board. Since the successful LPO exam applicant will

More information

California Real Estate Principles, 11 th ed., by Walt Huber Midterm A Chapter 1-7 Copyright March 2006, Educational Textbook Company

California Real Estate Principles, 11 th ed., by Walt Huber Midterm A Chapter 1-7 Copyright March 2006, Educational Textbook Company California Real Estate Principles, 11 th ed., by Walt Huber Midterm A Chapter 1-7 Copyright March 2006, Educational Textbook Company 1. Which of the following is NOT a test to determine whether an item

More information

Commitment for Title Insurance

Commitment for Title Insurance Commitment for Title Insurance Schedule A Issued by Fidelity National Title Insurance Company Fidelity National Title Insurance Company 310 First Street, Suite 1210 Roanoke, VA 24011 Phone: 540-982-2121

More information

Boston National Title Agency, LLC. 129 West Trade St, 9th Floor. Charlotte NC 28202

Boston National Title Agency, LLC. 129 West Trade St, 9th Floor. Charlotte NC 28202 Boston National Title Agency, LLC 129 West Trade St, 9th Floor Charlotte NC 28202 American Land Title Association ALTA Commitment Form Adopted 6-17-06 CHICAGO TITLE INSURANCE COMPANY 800-943-1196 SCHEDULE

More information

Affidavit Rerecorded Lost Assignment Affidavit Agreement A document in which two or more parties All Persons Signing All Persons Signing None None

Affidavit Rerecorded Lost Assignment Affidavit Agreement A document in which two or more parties All Persons Signing All Persons Signing None None Prince William County Land Records Indexing Guidelines by Document Type INSTRUMENT TYPES DESCRIPTION GRANTOR (F2) GRANTEE (F3) CONSID- ORIGINAL ERATION BOOK & PAGE OR INSTRUMENT # (15 DIGIT) Affidavit

More information

Application of Corrective Tools to Obtain Marketable Title

Application of Corrective Tools to Obtain Marketable Title Application of Corrective Tools to Obtain Marketable Title Jeffrey C. O Brien Mansfield Tanick & Cohen, P.A. 2007 Mansfield Tanick & Cohen, P.A. A. Adhering to Title Examination Standards 1. What Are the

More information

Chapter 6: Interests in Land History

Chapter 6: Interests in Land History Chapter 6: Interests in Land History An * in the left margin indicates a change in the statute, rule or text since the last publication of the manual. I. Introduction Modern real property law has evolved

More information

Policy Amount. Proposed Insured: Purchaser with contractual rights under a purchase agreement with the vested owner identified at Item 4 below

Policy Amount. Proposed Insured: Purchaser with contractual rights under a purchase agreement with the vested owner identified at Item 4 below FIDELITY NATIONAL TITLE INSURANCE COMPANY 800-943-1196 SCHEDULE A Prepared By: BNT of Alabama, LLC Loan No.: 1. Effective date: 23rd day of February, 2018 Issue Date: 03/07/2018 This Title Insurance Commitment

More information

Appendix B. KAAPA Ethanol, L.L.C. Membership Unit Redemption Agreement

Appendix B. KAAPA Ethanol, L.L.C. Membership Unit Redemption Agreement Appendix B KAAPA Ethanol, L.L.C. Membership Unit Redemption Agreement This Membership Unit Redemption Agreement ("Agreement") is entered into as of this day of, 20 by and between (whether one or more referred

More information

AFFORDABLE HOUSING RESTRICTION

AFFORDABLE HOUSING RESTRICTION AFFORDABLE HOUSING RESTRICTION For Projects in Which Affordability Restrictions Survive Foreclosure THIS AFFORDABLE HOUSING RESTRICTION (this Restriction) is: [ ] incorporated in and made part of that

More information

Boston National Title Agency, LLC. 129 West Trade St, 9th Floor. Charlotte NC 28202

Boston National Title Agency, LLC. 129 West Trade St, 9th Floor. Charlotte NC 28202 Boston National Title Agency, LLC 129 West Trade St, 9th Floor Charlotte NC 28202 FIDELITY NATIONAL TITLE INSURANCE COMPANY 800-943-1196 Prepared By: Boston National Title Agency, LLC 129 West Trade St,

More information

Policy. Proposed Insured: Purchaser with contractual rights under a purchase agreement with the vested owner identified at Item 4 below

Policy. Proposed Insured: Purchaser with contractual rights under a purchase agreement with the vested owner identified at Item 4 below FIDELITY NATIONAL TITLE INSURANCE COMPANY 800-943-1196 SCHEDULE A Prepared By: Boston National Title Agency, LLC 129 West Trade St, 9th Floor Charlotte NC 28202 1. Effective date: 28th day of December,

More information

Keenan Auction Company

Keenan Auction Company Keenan Auction Company PROPERTY INFORMATION PACKAGE Our 6,424 th Auction Real Estate Foreclosure Auction 13-237 Raised Ranch Style Home 21 Wardwell Rd., Orland, Maine Tuesday, August 27, 2013 at 3:30PM

More information

Title 101. Chicago Title Insurance Company. An Updated Primer for Attorneys and Paralegals in Real Estate Practice. (Revision 3)

Title 101. Chicago Title Insurance Company. An Updated Primer for Attorneys and Paralegals in Real Estate Practice. (Revision 3) Title 101 (Revision 3) An Updated Primer for Attorneys and Paralegals in Real Estate Practice Chicago Title Insurance Company 2009 Chicago Title Insurance Company Table of Contents Chapter One - About

More information

Nuts & Bolts of Seller Financed Transactions

Nuts & Bolts of Seller Financed Transactions Greg Parham Vista Title Company 303-989-0900 greg@vistatitle.com Order on-line at www.vistatitle.com Nuts & Bolts of Seller Financed Transactions Subject To Assignment of Contract Wrap Deed of Trust Installment

More information

Chapter 16 Questions Leases

Chapter 16 Questions Leases Chapter 16 Questions Leases 1. The Tolson's apartment lease has expired, but their landlord has indicated to them that they may remain on the premises until a sale of the building is closed. They will

More information