Title Search Quiz

What does UCC Stand For?
Unsecured Consumer Credit
Uniform Commercial Code
Unknown Consumer Credit
Uniform Consumer Code
Which Document transfers ownership of a property?
Deed of Trust
Mechanics Lien Contract
Warranty Deed
Abstract Certificate
What is one document that we might need to clear the title when there is a deceased spouse involved?
Death Certificate
Probated Will
Affidavit of Commencement
UCC
When is an Affidavit of Heirship not enough to clear the title with a deceased spouse?
When the deceased spouse has children from another marriage
When there are no other potential heirs
If the deceased spouse has been married more than once
If the surviving spouse has been married more than once
What document places a lien/mortgage on a property?
Warranty Deed
Deed of Trust
Voluntary Designation of Homestead
Quitclaim Deed
All Abstracts of Judgment and Child Support/Tax Liens need to be cleared from title before closing or must be paid off with loan funds.
True
False
What is one document that will clear a title if a divorced spouse still shows as vested?
An unrecorded Divorce Decree
A deed transferring the divorced spouse’s interest in the property to our borrower
A Divorce Decree Recorded in the District Court’s office
Affidavit of Heirship
What is the other document that will clear a title if a divorced spouse still shows as vested?
An unrecorded Divorce Decree
Affidavit of Heirship
A Divorce Decree Recorded in the District Court’s office
A Divorce Decree Recorded in the County Clerk’s Office
A UCC lien needs to be paid off or include in the LTV calculation.
True
False
What does leasehold mean?
Borrower is leasing the house to another person
Borrower is leasing the land his house is on
The bank is leasing the house to our borrower
Borrower is in a rent to own arrangement
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