Chapter 10-Public Records and Title Issues

The act of placing documents in the public record [blank_start]abstractor[blank_end]

The legal presumption that information may be obtained through diligent inquiry [blank_start]abstractor[blank_end]

A type of notice also known as direct knowledge [blank_start]abstractor[blank_end]

The order of rights in time, such as who recorded first, which party was in possession first, etc. [blank_start]abstractor[blank_end]

The record of a property's ownership [blank_start]abstractor[blank_end]

A legal action to remove a cloud on the title and establish legal ownership [blank_start]abstractor[blank_end]

An examination of all the public records to determine if any defects exist in a property's history of ownership [blank_start]abstractor[blank_end]

The individial who prepares a summary report of the results of a title search [blank_start]abstractor[blank_end]

A contract under which a policyholder is protected from losses arising from defects in title [blank_start]abstractor[blank_end]

Title problem that is created by a gap in the chain or other dispute of ownership [blank_start]abstractor[blank_end]

Any individual who is interested in a particular property may review the public records to learn about the documents, claims, and other issues that affect its ownership

Any written document that affects any estate, righ, title, or interest in land must be recorded in the county in which the property owner resides.

To be eligible for recording, a document pertaining to real estate must be drawn and executed in accordance with the requirements of the federal government

Constructive notice means that information about a property is not only available, but that someone has been given access to that information

A search of the public records will disclose all liens that exist against a property.

The term chain of title refers to the record of a property's ownership

In a typical title search, the chain of title is examined, beginning with the earliest records of ownership and proceeding forward up to the present owner.

An extended standard coverage title insurance policy protects a homeowner against rights of parties in possession and unrecorded liens.

One of the requirements of marketable title is that it could convince a reasonably well-informed and prudent purchaser, acting on business principles and with full knowledge of the significant facts, that the property could be resold or mortgaged at a later time.

A certificate of title is a guarantee of legal ownership

A title search of the public records may be conducted by

Which statement BEST explains why instrucments affecting real estate are recorded?

A purchaser went to the county building to check the records, which showed that the seller was the grantee in the last recorded deed and that no mortgage was on record against the property. The purchaser may assume which of the following?

The date and time a document was recorded establish which of the following?

A buyer bought a house, received a deed, and moved into the residence but neglected to record the document. One week later the seller died, and the heirs in another city, unaware that the property had been sold, conveyed title to a relative, who recorded the deed. Who owns the property?

If a property has encumbrances, it

Chain of title is MOST accurately defined as

Evidence of the kind of estate and all liens against a parcel of real estate can usually be proven by

The person who prepares an abstract of title for a parcel of real estate

A couple is frantic because they cannot find their deed and now want to sell the prperty. They

When a title insurance policy is being issued, the public records are searched and the title company's record of title is continued to date. When the itle examination is complete, the title company notifies the parties in writing of the condition of title. This notification is referred to as

When a claim is settled by a title insurance company, the compamy acquires all rights and claims of the insured against any other person who is responsible for the loss. This is called

A title insurance policy with standard coverage generally covers all of the following EXCEPT

The document(s) referred to as title evidence include

To give notice of a security interest in personal prperty items, a lienholder must record which of the following>

Which of the following would NOT be acceptedable evidence of ownership

A seller delivered title to a buyer at closing. A title search had disclosed no serious defects, and the title did not appear to be based on doubtful questions of law or fact or to expose the buyer to possible litigation. The seller's title did not appear to present a threat to the buyer's quiet enjoyment, and the title insurance policy provided was sufficient to convince a resonably well-informed person that hte property could be resold. The title conveyed would commonly be referred to as

Which of the following are traditionally covered by a standard title insurance?

The BEST reason for a buyer to obtain title insurance is

The mortgagee received a title insurance policy on the property a buer is pledging as security for the mortgage loan. Which of the following is TRUE?