Broker Law Review L-1
Which of the following is not a form of involuntary alienation?
Sheriff sale
Erosion
Trustee's sale
Dedication
Which circumstance would negate encroachment?
Deed restrictions
Release clause
Owner's premission
Zoning regulations
Which of the following would be considered an encroachment?
Recorded mechanic's lien
Recorded mortgage
A wall built on another's property
Unpaid water bill
Who is responsible for recordation of a deed?
Broker
Grantor
Grantee
Lender
When a party makes an acknowledgement in a deed, they are referred to as the:
Grantor
Grantee
Notary
Escrow officer
When a party prepares a codicil, they have amended a/an:
Contract
Lease
Will
Escrow
A patent deed comes from:
A sovereign power
The U.S. Patent Office
Municipalities
County government
A demising clause would be found in which document?
Will
Mortgage
Deed
Lease
Title would transfer involuntarily from all of the following EXCEPT:
Sheriff
County Treasurer
Executor
Trustee
The right to own a property acquired by usage over time is called:
Color of title
Adverse possession
In gross
Prescription
Which of the following is not necessary for a valid Arizona deed?
Signature of grantor
Acknowledgment
Legal description
Habendum clause
Adverse Possession is best described as:
Voluntary Alienation
Title by Descent
Involuntary Alienation
Testate Conveyance
What type of deed gives the greatest protection to the grantee?
General warranty
Special warranty
Quit claim
Disclaimer
In order to record a deed, which of the following would be required?
Signed by grantee
Signed and delivered
Signed and acknowledged
Signed and dated
A real estate agent should not do which of the following:
Recommend the buyer obtain a home warranty
Recommend how to take title
Recommend a close of escrow date
Recommend a type of financing
Marketable title would be defined as:
Title that is free from clouds and defects
Title that is free from any and all encumbrances
Chain of title
Perfect title
After J bought real estate from P, both parties decided to cancel the recorded sale. What must be done?
J should return the deed to property
Record a recission notice
Mark the deed void
J should prepare a new deed and deliver it to P
An exception in a deed:
Excludes part of the property
Forbids discrimination per Fair Housing
Cancels the sale
Provides for a nominee
If a deed is delivered but destroyed before recordation, who is the legal title holder?
Grantor
Grantee
Lender
Optionor
A warranty deed would not guarantee the grantee against:
Couds on title
Marketable title
Rights of the government
Quiet enjoyment
The Grantor signed a deed, but it was never received by the Grantee nor recorded. Which of the following statements are true?
The deed was not delivered
The deed was delivered when it was signed
The deed was delivered if the Grantor's signature was notarized
The deed was delivered if the grantee was of legal age
What is necessary for a valid deed?
Constructive notice
Words of conveyance
Recordation
Signature of grantee
What is the maximum number of grantees in a warranty deed?
One
Three
Four
Unlimited
The party who makes a will is called:
Devisee
Administrator
Executor
Testator
Which is an example of involuntary alienation?
Mortgage
Deed of trust
Deed through foreclosure
Deed in lieu of foreclosure
When you acquire personal property through a will you obtain a:
Devise
Bequest
Demise
Descent
All of the following relate to adverse possession except:
Actual possession
Length of time
License
Color of title
Which of the following is true regarding adverse possession?
Right to use the land of another
Statutory method of acquiring title
Owner's permission is necessary to file claim
When the property is sold the claimants right terminate
A warranty deed must contain all of the following EXCEPT:
Consideration
Signature of grantor
Legal description
Signature of grantee
When a party uses a property openly, continuously, notoriously and in a hostile manner for a statutory period of time, this is referred to as:
An easement in gross
An easement by prescription
An encroachment
Adverse possession
A property is sold with a quitclaim deed. Several years later, it was realized that the party signing the deed only had 50% interest. The owner of the other 50% now appears. Which of the following is true?
Buyer should now buy title insurance
The second 50% owner must be recognized as legitimate
The second 50% owner has no rights
The entire sale is void
A person buying real estate from an executor will not get a general warranty deed because:
The executor does not own the property and is carrying out the instructions of the living trust
The seller can only give a warranty deed
A court-appointed administrator would not want the liability
An executor will want to limit the estate's liability
All of the following can happen as a result of an inheritance except:
Receiving a devise
Receiving a bequest
Receiving the property by escheat
Receiving a legacy by testate conveyance
A deed has been placed in escrow. It was signed by the grantor, who dies before close of escrow. What is the status of the deed?
Void
Unenforceable
Valid
Intestate
A covenant against encumbrances insures against all of the following except:
Zoning to restrict the use of property
Loans on the property
Encumbrances and encroachments
Recorded easements
What is the final step in the process of conveying a deed?
Signing the deed
Signing and recording
Notarizing and recording
Signing and delivering
All of the following would be considered constructive notice EXCEPT:
Recordation
Advertising
Buyer in possession
Public posting
A deed does not guarantee against which of the following?
Quiet enjoyment
Zoning laws
Liens and encumbrances
Property description
Which of the following clauses would convey?
Habendum
Granting
Extoppel
Acknowledgment
When a document is acknowledged, it shows which of the following?
The document was recorded
The document was released
The document was drafted
The document was signed with a person's own free will
Which of the following, listed below, shows the best relationship between Testate and Intestate?
Will <- ->Administrator
No Will <- ->Executor
Executor <- ->Will
Administrator <- -> Executor
A clause in a deed which specifies the degree of property conveyed is called:
Defeasance
Habendum
Acknowledgment
Consideration clause
A gift deed would relate most closely to:
Like for like kind
Love and affection
Monetary consideration
Valuable consideration
When a Quit Claim deed is used, what type of interest does the grantee have?
Whatever interest the grantor held
Warranties to clear title
Covenant of seisin
Quiet enjoyment
Which of the following is required for a valid deed?
Signature of Grantee
Signature of Grantor
Recordation
Specific named price
Which of the following is a voluntary transfer?
Eminent domain
Warranty deed
Police power
Attorney-in-fact
Which of the following would be a covenant in a deed?
Due-on-sale clause
Quiet enjoyment
Acceleration clause
Subordination of rights
When a grantor gives a covenant to the grantee promising that no liens exist against the property except those revealed, this is known as:
Covenant of Seisin
Covenant of Laches
Covenant of Quiet Enjoyment
Covenant against Further Encumbrances
When a buyer is given a promise that the grantor has the right to convey the property, it is called:
Further assurance
Warranty Forever
Covenant of Seisin
Special Warranty
When a person acuires an easement by prescript, the time accumulated by multiple property occupants is called:
Tacking
License
Devise
Accretion
If a person dies intestate, the estate will:
Be handled by an administrator
Be handled by an executor
Will be given to the heir named in the will
Go to the state
A party lives on a property without the permission of the owner. After the legally required time period, if the occupant receives title to the property, the method of acquiring title is called:
Easement by prescription
Adverse possession
Escheat
Eminent Domain
Which of the following deeds listed below would contain the warranty forever?
Special Warranty
General Warranty
Bargain and sale
Disclaimer
When a person receives real estate through a will, which of the following is true?
After probate, the heirs would receive the real property
The heirs would receive a bequest
Probate is not required
All trust would be terminated if their was a will
When a person dies with a will, which of the following statements would be false?
An executor would oversee the probate process
An heir may contest the will
The estate would not be subject to probate because the party died with a will
The estate could be subject to taxes before any property is transferred
The very first transfer of real property from a government to a private party is called a:
Deed of Trust
Deed of Reconveyance
Patent Deed
Sheriff's Deed
When does title NOT convey?
When the escrow agent dies after the deed is recorded
When the seller dies after the deed is recorded
When the deed is signed and notarized
When the buyer dies after the deed is recorded
Which of the following is the weakest type of will?
Formal
Holographic
Nuncupative
Codicil
In a deed, the clause that deals with easements and liens is called:
Granding
Habendum
Appurtenance
Limitation and reservations
A handwritten will is called which of the following?
Codicil
Unenforceable
Holographic
Intestate
A person who receives real estate in a will is:
Devisor
Devisee
Bequestor
Besquestee
Property "A" is encroaching on Property "B". Property "B" waits too long to take any action. If property "A" obtains an easement, it would most likely be an easement:
By necessity
By prescription
In gross
That is implied
If a property owner does not evict a trespasser after a period of time, they may acquire:
Fee simple title
A remainder estate
A leasehold estate
An easement by prescription
Which of the following does not convey title?
Warranty Deed
Quit Claim Deed
Lease
Deed in Lieu of Foreclosure
Which type of deed is not necessarily evidence of title?
Warranty
Special Warranty
Grant Deed
Quit Claim
Who is covered by an ALTA policy?
Buyer
Seller
Beneficiary
Trustee
Title insurance is paid:
Annually
Monthly
At close of escrow
In budget payments
An abstract of title is best described as:
A quiet title suit
A certificate of sale
History of title
Adverse title
In order to have a valid deed, the final step is:
Legal consideration
Signatures
Delivery
Acknowledgment
The following is a type of "bargain and sale" deed:
Sheriff's deed
Special warranty deed
Certificate of sale
Disclaimer deed
Transfer of real property requires a:
Deed
Note
Mortgage
Pledge
When a lessee is promised "quiet enjoyment", it means:
No sound would be heard between the walls
The lease will not be terminated if the property is sold
The area would be free of noise
No liens would exist on the property
When a document is recorded, what type of notice is given:
Actual
Constructive
Implied
Universal
Quiet enjoyment is best described as a covenant in a:
Bill of Sale
Note
Tax Lien
Deed
When a person receives real estate through a will, this is called:
Demise
Bequest
Devise
Legacy
A quit claim deed would do which of the following:
Remove a cloud on a title
Deny the spouse an interest
Verify the tax liability
Establish a homestead
Which type of deed would have three promises and two warranties:
Special warranty
General warranty
Bargain and sale
Quit claim
All of the following deeds will convey title EXCEPT:
General Warranty
Special Warranty
Quit Claim
Disclaimer
An affidavit of value would contain all of the following EXCEPT:
Consideration
Tax transfer stamps
Description
Signatures
What is the purpose of an affidavit of value?
Assist the County Assessor in determining property values
To meet IRS requirements
To assist in determining capital gains tax
To assist the State Treasurer in sales tax revenue
A deed is acknowledged in Arizonan to:
Show the intent of the grantee
Meet the lender's requirements
Meet state law
Meet the requirements of the Statue of Frauds
When a condition is placed in a deed a violation of the condition could result in which of the following?
Forfeiture
Escheat
Estoppel
Encroachment
When deed restrictions are placed against a property, the restrictions would be considered a/an:
Lien
Encroachment
Encumbrance
Variance
A standard policy of title insurance would cover which of the following events?
Eminent domain
Police power
Exceptions to the policy
An encumbrance that was not excluded from the policy
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