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Ch 9 Exam

QuestionAnswer
What instrument transfers title from one individual to another? Deed
What does the term "title" refer to in real estate? Ownership
What is a warrant in a deed? A promise made by the grantor
Which clause in a deed states the interest that is being conveyed? Habendum
The warrant in a deed in which the grantor assures the grantee freedom from hostile claims against their ownership is known as ____. Warrant of quiet enjoyment
T/F: Concerning a quitclaim deed, the only warrant contained in the deed is the warrant of seisin. False
T/F: Concerning a quitclaim deed, the grantor cannot transfer ownership under a quitclaim deed. False
T/F: Concerning a quitclaim deed, a quitclaim deed transfers temporary title. False
T/F: Concerning a quitclaim deed, it may be used to cure defects in title. True
What type of deed is most commonly used? General warranty
What is the term used to describe an individual who dies w/o leaving a will? Intestate
What is the term used to describe a person who is appointed by a court to act for a decendent? Personal representative
Mary and Louise open a beauty shop in a regional mall. The terms of their lease require that a portion of their business income, in addition to the periodic rent amount, be paid to the landlord. What type of lease do they have? Percentage
Zoning is an example of which government limitation over private property rights? Police power
T/F: regarding an attorney's opinion of title, it guarantees the title. False
T/F: regarding an attorney's opinion of title, it guarantees the authenticity of the documents. False
T/F: regarding an attorney's opinion of title, it is the same as title insurance. False
T/F: regarding an attorney's opinion of title, it is rendered after an examination of an abstract. True
What is required to obtain title by adverse possession? Notorious, open, hostile, adverse, and exclusive possession of the property for 7 or more consecutive years
What type of notice is considered to be the best proof of ownership? constructive
A 5-yr lease of a large warehouse prohibits assignment. After 2 years, and unable to continue paying full rent, the tenant arranges for another to take over 1/2 of the space and pay 1/2 of the rent for the remaining term. What is this called? a sublease
Created by: riverjan1122
 

 



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