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Ch6 Nat Bk Ch8 CT Bk
| Question | Answer |
|---|---|
| A 15-year-old recently inherited a parcel of real estate and has decided to sell it. If the 15-year-old executes a deed conveying the property to a purchaser, such a conveyance would be A)void. B)valid. C)invalid. D)voidable. | voidable. Real estate contracts entered into by minors are generally voidable by the minor until the minor reaches the age of majority—18 in most states—or shortly thereafter. |
| Title to real estate may be transferred during a person's lifetime by A)devise. B)escheat. C)descent. D)involuntary alienation. | Involun alienation. Transfer of title by devise (will), descent (death intestate), or escheat (for lack of a will & heirs) occur after death. Involuntary alienation, such as condemnation, foreclosure sale, or tax sale, occur during a person's lifetime. |
| Which type of deed merely implies but does NOT specifically warrant that the grantor holds good title to the property? A)Quitclaim B)Special warranty C)Trust deed D)Bargain and sale | bargain and sale. By giving a bargain and sale deed, the grantor implies ownership and possession of the property, but there are no express warranties against encumbrances. |
| Every deed must be signed by A)the grantor and grantee. B)the grantor. C)the devisee. D)the grantee. | the grantor. Either the grantor, or someone acting under the grantor's authority, must execute (sign) every deed, and the grantor must have legal capacity to do so. |
| Title to real estate can be transferred upon death by what type of document? A)Will B)Warranty deed C)Special warranty deed D)Quitclaim deed | will. A will transfers title to real estate upon the death of the testator. Deeds must be delivered and accepted during the lifetime of the grantor to transfer title. |
| Where does a probate proceeding involving real prop take place? AIn county where executor or bene live BOnly in county where prop is located COnly in county where decedent resided DIn both county where decedent resided & county where prop is located | both the county where the decedent resided and the county in which the property is located. There will be two probates conducted: one in the county where the decedent resided and another in the county where the real estate is located. |
| Eminent domain and escheat are two examples of A)voluntary alienation. B)involuntary alienation. C)transfers of title by descent. D)adverse possession. | Right of eminet doman gives a gov entity to compel tran of prop to entity for $ set by court process—condemnation.Tran of title (alienation) is forced=involun. When person dies intestate & w/o heir, prop passes (escheats) to state.Proces wasn't planedor s |
| A person who has died without a will has died A)under the acknowledgment clause. B)in valid conveyance. C)testate. D)intestate. | intestate. When a property owner dies intestate, title to the property will pass to the decedent's heirs, as provided in the state laws of descent. |
| The grantee receives greatest protection with what type of deed? A)Executor's B)Bargain and sale with covenant C)General warranty D)Quitclaim | general warranty. In the general warranty—often just called warranty—deed, the grantor makes more promises and gives the grantee more covenants than in any other deed. |
| A form authorizing one person to execute documents for another is called A)a power to represent. B)a quitclaim deed. C)a release deed. D)a power of attorney. | power of attorney. That document is a power of attorney; the person named in it is an attorney-in-fact. Deeds do not authorize one person to act for another. |
| To be valid, a deed must contain all below except: a. signature of grantor b. signature of grantee c. signature of witnesses d. an acknowledgement | B. Sig. of grantee. |
| How many witnesses must sign a deed? a. 1 b. 2 c. 3 d.4 | B. 2 |
| A warranty deed differs from a quitclaim deed in that it a. is valid b. conveys fee simple title c. cures any title defects d. contains guarantees made by the grantor to the grantee | D. Both convey valid title, if the grantor has title to convey & both can convey fee simple. Neither cures title defects; however, if warranty deed is given & there is an undisclosed defect, grantee would be able to sue the grantor on the guarantees. |
| Since acquiring a piece of prop, a woman legally changed her name. To convey that prop by valid deed, the woman should use a.name as it appears on deed b.present her legal name c.name on the deed and the present legal name d. name she wishes to use | c. If the grantor has changed her name since acquiring the property to be conveyed, both names should be included on a deed. |
| The prescriptive period in the state of CT to acquire title to real property through adverse possession is a. 7 years b. 10 years c. 15 years d. 20 years | c. 15 years |
| How old must a citizen o fCT be before he may prepare a legally binding will? a. 15 (as long as real property is not involved) b. 18 c. 21 d. any age (as long as the will is legally witnessed and recorded) | b. 18 |
| A married man died w/o a will, his estate would be taken by his wife if the a.man had no previous spouses b.man had no surviving children, grandchildren, parents c.man's estate valued less than 100K d.man's estate created after he married current wife | b. Intestate distribution chart on pg 118 says there is only a spouse with no children, parents.... (ex wife has nothing to do with it), then wife gets all. |
| Unclaimed estates escheat to the state after a period of a. 5 years b. 10 years. c. 15 years d. 20 years. | d. 20 years. In the event that no legal heirs or assigns can be identified within 20 years of a real estate owner's death, the owner's estate would be transferred to the state by escheat. |
Created by:
jSmolenski7