Title Insurance & Real Estate Quiz!

Title insurance policies cover all of these except:

Fraud and Forgeries.

Undisclosed Heirs.

Property Condition.

Platting.

In Texas, the title insurance premium is always paid for by the seller.

True

False

Texas title insurance premium prices are:

Negotiated by the parties

Based on the property price

Determined by each title company

A flat fee for each policy

The title insurance policy for the owner lasts:

Forever and runs with the land.

As long as the owner or heirs own it.

10 years, then needs to be renewed.

One year, then is renewed annually.

A deed must be recorded with the county in order to transfer title.

True.

False.

Title insurance is required by law on every residential transaction in Texas.

True

False

When refinancing a mortgage or closing on a home equity loan, you as the borrower can choose which title company handles the closing.

True.

False.

_____________ of Title is a condensed history of all instruments affecting a parcel of land.

Quorum.

Recitation.

Abstract.

Proclamation.

An action to ________ title is a lawsuit to establish ownership and remove any other claims.

Reclaim

Quiet

Quash

Rectify

An encumbrance on the title is also known as a

Rift.

Cloud.

Stain.

Fault.

Right of forcible entry and detainer is also known as?

Breaking and Entering

Adverse Possession

Quiet Title

Eviction

The Community Development Act of 1974 adds what as a protected class in housing discrimination law?

Age

Marital Status

Nationality

Sex

The Americans with Disabilities Act applies to businesses open to the general public with ____ or more employees.

You must disclose the possibility of lead based paint on all properties built before which year?

1958

1968

1978

1988

What is the term used to describe when water’s movement causes soil deposits which increase the size of the land?

Secretion

Accretion

Depreciation

Appreciation

To be valid, a deed must have the following EXCEPT:

Legal Description

Grantee's Signature

Grantor's Signature

Delivery and Acceptance

ANY document that transfers ownership interest in real property is required to be in writing per the Statute of Frauds.

True

False

In Texas, which of the following is NOT an exception to the requirement that a seller provide a seller’s disclosure:

In a foreclosure sale

For new home construction

For property sold to or from any governmental entity

For investors that never inhabited the property

As long as the seller directs the title company to pay earnest money refund to buyers, they can terminate the contract.

True

False

What is the Rule Against Perpetuities?

I can't believe you asked this question.

Principle that no interest in property is valid unless it vests not later than 21 years, plus the period of gestation, after some life or lives in being which exist at the time of the creation of the interest.

Seriously, though, law school was so long ago.

I don't care.

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