Podcast
Questions and Answers
Which entities have the power to exercise eminent domain?
Which entities have the power to exercise eminent domain?
Accession occurs when property is passed to:
Accession occurs when property is passed to:
Which type of deed is least likely to include implied covenants made by the grantor?
Which type of deed is least likely to include implied covenants made by the grantor?
A deed may be considered valid even if:
A deed may be considered valid even if:
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What could potentially invalidate a deed?
What could potentially invalidate a deed?
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Which type of deed transfers property without a guarantee of clear title?
Which type of deed transfers property without a guarantee of clear title?
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What is implied by the buyer acceding to the terms of the contract?
What is implied by the buyer acceding to the terms of the contract?
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What role does a title company play during a title search?
What role does a title company play during a title search?
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What condition is essential for Ned to record the deed?
What condition is essential for Ned to record the deed?
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What is the process by which real property is naturally added through natural forces?
What is the process by which real property is naturally added through natural forces?
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What effect does recording a deed have on the public's awareness of an interest in the property?
What effect does recording a deed have on the public's awareness of an interest in the property?
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What must occur for a deed to be considered valid?
What must occur for a deed to be considered valid?
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What is a cloud on the title?
What is a cloud on the title?
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Who is entitled to receive personal property bequeathed in a will?
Who is entitled to receive personal property bequeathed in a will?
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What does the term 'escheat' refer to?
What does the term 'escheat' refer to?
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Study Notes
Eminent Domain
- The power of eminent domain can be used by cities, public utilities, and public universities
- All of the above
Title Insurance
- Standard title insurance protects against forgery, lack of capacity in previous transactions affecting title, easements/liens not shown in public records, and delivery of a deed without intent to convey
- A lender's policy protects a mortgagee
- an owner's policy covers the seller's interests
- An owner's policy covers rights, such as water/mineral rights, but does not require a survey
- Owner's policies do not cover undisclosed encroachments
Deed Validity
- A deed can be valid even without being written
- A deed needs to be signed by the grantor
- A deed requires a description of the property
- Grantee legally incompetent may still result in a valid deed
Types of Deeds
- A general warranty deed contains implied covenants from the grantor
- A special warranty deed contains fewer implied covenants than a general warranty deed
- A quitclaim deed provides the fewest implied covenants
Title Search Records
- Title companies should look over records in county clerk's offices, county recorder's offices, and federal land offices.
Recording Deeds
- Recording a deed creates a presumption of acknowledgment, delivery, and acceptance
- Recording ensures the transfer of deed occurs with grantor delivering the deed and grantee accepting it
- Recording provides constructive notice of interests, so the public can see a deed and its contents
Accession
- Accession occurs when property is expanded through natural processes
- Accession describes the addition of land through natural causes
Title Cloud
- A discrepancy in a grantor's name can create a cloud on title, potentially hindering clear ownership.
Power of Attorney
- A power of attorney allows someone to sell a property on behalf of the owner
- The power of attorney should include a description of the property
Escheat
- Escheat refers to the reversion of property to the state when a person dies without heirs
Will Beneficiary
- A devisee receives real property in a will
- A legatee inherits personal property from a will
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Description
This quiz covers key concepts in real estate law, focusing on eminent domain, title insurance, deed validity, and various types of deeds. Test your knowledge on how these aspects interact and their implications for property transactions. Perfect for students or professionals in real estate or law.
