57 Questions
What is the key requirement for legal ownership to be transferred in a deed of conveyance?
Deliberate delivery and acceptance by the grantee
Which type of notice involves knowledge acquired directly through demonstrable evidence?
Actual notice
Which type of transfer occurs due to loan default?
Involuntary transfer
What type of title involves the proprietor having complete entitlement to a bundle of rights?
Legal title
Which requirement is necessary for deed validity?
Granting clause
In what type of transfer does escheat occur?
Involuntary transfer
What does constructive notice imply in terms of knowledge?
'Presumed by law' knowledge one could have obtained
What is one way to acquire equitable title?
'Capable of acquiring legal title' by complying with creditor terms
'Knowledge one could have obtained, as presumed by law' is associated with which type of notice?
'Presumed by law' constructive notice
'Eminent domain' is a type of involuntary transfer for what purpose?
'For public good'
What type of deed states 'I own but won’t defend'?
Bargain and sale
What does a General Warranty deed signify?
Ownership and defense of title
Which criterion is essential for the validity of a Last Will and Testament?
Mental capacity
What is the purpose of Property Transfer Tax?
To assist in assessing property value for taxation
What is the characteristic of a Holographic Will?
Written in testator’s handwriting
What is the key term for establishing the chronology of property ownership?
Chain of Title
What evidence is considered the best form of title evidence?
Title insurance
In what situation would Adverse Possession occur?
When someone claims ownership openly, hostilely, and continuously
'I may or may not own, and won't defend' is associated with which type of deed?
'I own but may defend'
What type of notice involves presenting or inspecting a deed as a form of acquiring knowledge?
Actual notice
Which type of title allows a party to potentially acquire legal title by fulfilling certain conditions agreed upon with creditors?
Equitable Title
What is a necessary requirement for the validity of a deed in terms of the grantor and grantee?
Must be in writing
Involuntary Transfer due to loan default is associated with which process?
Foreclosure
What type of deed indicates 'I may or may not own, and won't defend'?
Quitclaim Deed
What does Constructive notice imply in terms of knowledge?
Knowledge presumed by law that one could have obtained
'Eminent domain' is used for what purpose?
Public good acquisition
'Escheat' occurs in which type of transfer scenario?
Involuntary Transfer
Which type of notice involves recording in public records 'for all to see'?
Constructive notice
What must be present in a deed for it to be considered valid?
Grantor's signature and acknowledgement
What does a Quitclaim deed signify?
The owner may or may not own, and won't defend
Which type of deed states 'I own and will defend'?
General warranty deed
What is the purpose of a Suit to Quiet Title?
To settle claims and disputes regarding ownership
In which type of transfer does escheat occur?
Intestacy with No Heirs
What does a Torrens Registration serve as in title evidence?
Marketable title
Which form of title evidence is best assured by a title insurance policy?
Title insurance
Which deed type implies 'I own and warrant myself only'?
Special warranty deed
What defines an involuntary property title transfer through Adverse Possession?
A statutory period of continuous, unconcealed possession by an unwanted individual
What is the main characteristic of a Nuncupative Will?
Oral will written by witnesses; generally not valid for property transfer
What type of transfer occurs after an individual's death with legal heirs present?
Testate Death with Heirs
What type of notice involves recording in public records 'for all to see'?
Constructive notice
In what type of transfer does Adverse Possession occur?
Involuntary transfer
What is the key requirement for legal ownership to be transferred in a deed of conveyance?
Delivery
Which form of notice involves knowledge acquired directly through demonstrable evidence?
Actual notice
What does a Quitclaim deed signify?
No ownership guarantee
Which requirement is necessary for deed validity?
Consideration clause
'Eminent domain' is used for what purpose?
Acquiring property for public good
'Legal Title' implies what kind of entitlement for the proprietor?
'Complete entitlement to a bundle of rights'
What is the key purpose of Property Transfer Tax?
To assist in ad valorem assessment
In the context of deeds, which type signifies 'I may or may not own, and won't defend'?
Quitclaim deed
What is the characteristic of a Nuncupative Will?
Oral will written by witnesses
In property title records, what is the main purpose of an Abstract of Title?
Provide a written chronology of ownership
Which form of title evidence is considered the best assurance by delivering a marketable title free from claims?
Title insurance
What must be demonstrated for an individual to assert ownership over a property through Adverse Possession?
'Claim of right' as reason for possession
In Last Will and Testament criteria, what is meant by 'Entitlement to create a will'?
'Voluntary action' execution
Concerning involuntary property title transfer, what defines 'Notorious' possession?
'Unrecorded' claims on title
'Chain of Title' in property records refers to which aspect?
'Successive owners' from original grant
'Cloud on Title' in property records typically refers to what?
'Unrecorded claims'
Explore the key aspects of deeds of conveyance including the transfer of legal ownership, notice definitions, and types of transfers. Learn about voluntary and involuntary transfer examples in this quiz.
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