Superior School Chapter 4

Question 1 of 18

1

Title to real estate passes when a valid deed is:

Select one of the following:

signed and recorded
signed, delivered and accepted
filed and microfilmed
executed and mailed

Explanation

Question 2 of 18

1

Title to real estate inherited from a person who died testate is referred to as a:

Select one of the following:

legacy
bequest
devise
descent

Explanation

Question 3 of 18

1

Which of the following is an essential element of a valid North Carolina deed?

Select one of the following:

a seal
recordation
the signature of the grantee
words of conveyance

Explanation

Question 4 of 18

1

When the grantor does NOT wish to convey certain property rights:

Select one of the following:

exceptions must be noted in a separate document
the deed must convey the property with all rights intact
exceptions may be noted in the deed of conveyance
the grantor must convey the entire premises and have the grantee reconvey the rights to be retained by the grantor

Explanation

Question 5 of 18

1

A trespasser built a log cabin in a remote area of a national park and occupied the structure for more than 25 years. That person will never be able to claim the property under adverse possession statutes because:

Select one of the following:

the possession was not notorious
the possession was not open
the property was not privately owned
the property was not properly fenced

Explanation

Question 6 of 18

1

The seller conveyed a quitclaim deed to the buyer. Upon receipt of the deed, the buyer may be certain that:

Select one of the following:

the seller owned the property
there are no encumbrances against the property
the buyer now owns the property subject to certain claims of the seller
any and all of the seller's interests in the property belong to the buyer

Explanation

Question 7 of 18

1

Which of the following statements about North Carolina deeds is correct?

Select one of the following:

A general warranty deed is the best way for the buyer to receive title.
A special warranty deed gives the seller the greatest degree of liability.
A bargain and sale deed is very much like the special warranty deed.
A gift deed must be recorded within 30 days to remain valid.

Explanation

Question 8 of 18

1

Which of the following is TRUE regarding a special warranty deed?

Select one of the following:

A grantor makes additional warranties beyond those given in a general warranty deed.
The grantor retains an ownership interest in the property.
The grantor is warranting that no undisclosed encumbrances exist against the property.
The grantor's warranties are limited to the time the grantor owned the property.

Explanation

Question 9 of 18

1

Regarding title recordation, which of the following statement(s) is/are true? l. Physically taking possession of the property is constructive notice. ll. Public notice of recording documents is actual notice.

Select one of the following:

l only
ll only
Both l and ll
Neither l nor ll

Explanation

Question 10 of 18

1

Which of the following would be considered an essential element of a valid deed in North Carolina? I. Acknowledgement II. Witnessed

Select one of the following:

I only
II only
Both I and II
Neither I nor II

Explanation

Question 11 of 18

1

All of the following may be discovered in a title search, EXCEPT:

Select one of the following:

the legal description of the property
liens and judgments
easements
encroachments

Explanation

Question 12 of 18

1

Which of the following is TRUE?

Select one of the following:

The grantor under a special warranty deed warrants that the grantee's title will be defended and protected against any claims whatsoever.
The grantor under a general warranty deed promises that the grantee's title will be defended and protected only against claims resulting from the grantor's ownership.
The grantor under a quitclaim deed only conveys any interest the grantor may have in the property.
A minor will convey absolute ownership interest in a property as long as the signature is obtained in the presence of a parent.

Explanation

Question 13 of 18

1

The recording of a deed:

Select one of the following:

is required in order to fully transfer the title of the real estate
makes the deed enforceable
ensures the grantee's interest in a parcel of real estate
warrants the grantee's title to real property

Explanation

Question 14 of 18

1

The recordation of a general warranty deed:

Select one of the following:

guarantees ownership
protects the interests of the grantee
prevents claims of parties in possession
provides defense against adverse possession

Explanation

Question 15 of 18

1

Don, a real estate broker, has agreed to prepare a deed for the seller in a transaction in which he is the listing agent. If he does not charge the seller a separate fee for this service:

Select one of the following:

He has done nothing illegal since he did not charge a separate fee for his service.
He may have his license suspended or revoked by the North Carolina Real Estate Commission.
He has not violated any rules or laws as long as he obtains consent from both parties prior to engaging in this act.
There is no violation as long as he has a broker’s license.

Explanation

Question 16 of 18

1

When the seller of the property gives a deed to a buyer “by, through, or during” the current ownership period of time, what type of deed is given?

Select one of the following:

General warranty deed
Special warranty deed
Quitclaim deed
Trustees deed

Explanation

Question 17 of 18

1

Under the North Carolina Conner Act, all the following documents must be recorded to be enforceable against third parties, EXCEPT:

Select one of the following:

an easement
a deed of trust
a purchase contract
a set of restrictive covenants

Explanation

Question 18 of 18

1

Determine the excise tax to be paid on a house that sells for $268,210 if the buyer makes a $25,000 down payment and the seller takes back a second mortgage for $50,000?

Select one of the following:

$536.42
$537
$533
$538

	Created by Larkin Willis almost 4 years ago

Transfer of Title to Real Property

Superior School Chapter 4

Question 1 of 18

Title to real estate passes when a valid deed is:

Select one of the following:

Explanation

Question 2 of 18

Title to real estate inherited from a person who died testate is referred to as a:

Select one of the following:

Explanation

Question 3 of 18

Which of the following is an essential element of a valid North Carolina deed?

Select one of the following:

Explanation

Question 4 of 18

When the grantor does NOT wish to convey certain property rights:

Select one of the following:

Explanation

Question 5 of 18

A trespasser built a log cabin in a remote area of a national park and occupied the structure for more than 25 years. That person will never be able to claim the property under adverse possession statutes because:

Select one of the following:

Explanation

Question 6 of 18

The seller conveyed a quitclaim deed to the buyer. Upon receipt of the deed, the buyer may be certain that:

Select one of the following:

Explanation

Question 7 of 18

Which of the following statements about North Carolina deeds is correct?

Select one of the following:

Explanation

Question 8 of 18

Which of the following is TRUE regarding a special warranty deed?

Select one of the following:

Explanation

Question 9 of 18

Regarding title recordation, which of the following statement(s) is/are true? l. Physically taking possession of the property is constructive notice. ll. Public notice of recording documents is actual notice.

Select one of the following:

Explanation

Question 10 of 18

Which of the following would be considered an essential element of a valid deed in North Carolina? I. Acknowledgement II. Witnessed

Select one of the following:

Explanation

Question 11 of 18

All of the following may be discovered in a title search, EXCEPT:

Select one of the following:

Explanation

Question 12 of 18

Which of the following is TRUE?

Select one of the following:

Explanation

Question 13 of 18

The recording of a deed:

Select one of the following:

Explanation

Question 14 of 18

The recordation of a general warranty deed:

Select one of the following:

Explanation

Question 15 of 18

Don, a real estate broker, has agreed to prepare a deed for the seller in a transaction in which he is the listing agent. If he does not charge the seller a separate fee for this service:

Select one of the following:

Explanation

Question 16 of 18

When the seller of the property gives a deed to a buyer “by, through, or during” the current ownership period of time, what type of deed is given?

Select one of the following:

Explanation

Question 17 of 18

Under the North Carolina Conner Act, all the following documents must be recorded to be enforceable against third parties, EXCEPT:

Select one of the following:

Explanation

Question 18 of 18

Determine the excise tax to be paid on a house that sells for $268,210 if the buyer makes a $25,000 down payment and the seller takes back a second mortgage for $50,000?

Select one of the following:

Explanation