Real Estate 101 - Real Estate Principles » Fall 2021 » Chapter 2 Quiz

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Question #1
What type of ownership has definite rights of survivorship?
A.   Joint tenancy
B.   Severalty
C.   Tenancy in common
D.   All of the above
Question #2
A woman CANNOT receive title to real property by:
A.   a patent.
B.   a gift deed.
C.   escheat.
D.   adverse possession.
Question #3
A written instrument that conveys and evidences title is called a(n):
A.   transfer.
B.   implied warranty.
C.   deed.
D.   will.
Question #4
What distinguishes a will from other types of property transfers?
A.   It creates a present interest in property
B.   It allows for the transfer of more property
C.   It only becomes effective at death
D.   None of the above
Question #5
In California, a notice to vacate an “estate at will” (rental agreement) requires how many days notice?
A.   1
B.   29
C.   15
D.   30
Question #6
Property acquired by a husband and wife during marriage and is split 50/50 is called:
A.   community property.
B.   tenancy in common.
C.   joint tenancy property.
D.   all of the above.
Question #7
Grantor C conveys a large house and land to his daughter and son-in-law to be theirs as long as they are married. One year later they are divorced. What happens to the property?
A.   It reverts back to C
B.   The son-in-law acquires it
C.   The couple must sell it
D.   The daughter acquires it
Question #8
A property owner living on a river bank acquires land due to the shifting of the river. This process is called:
A.   accretion.
B.   succession.
C.   encroachment.
D.   none of the above.
Question #9
Time, title, interest, and possession are the four essential unities of a:
A.   corporation.
B.   joint tenancy.
C.   partnership.
D.   tenancy in common.
Question #10
In a real estate transaction, the grantor is the:
A.   buyer.
B.   seller.
C.   Iender.
D.   renter.
Question #11
Through the process of escheat, the deceased’s property passes to:
A.   the state.
B.   his or her creditors.
C.   his or her heirs.
D.   the local county.
Question #12
Someone using another person’s land continuously, without paying any property taxes, might qualify to obtain an easement, or legal right to use the land, according to:
A.   accession.
B.   adverse possession.
C.   prescription.
D.   Murphy’s Law.
Question #13
Which type of will, unless signed with an “X,” requires NO witnesses?
A.   Holographic
B.   Living trust
C.   Statutory
D.   All of the above
Question #14
Which of the following statements is FALSE?
A.   A sheriff’s deed is the deed given to the purchaser at a court required sale.
B.   A gift deed is an instrument granting a gift out of love and affection.
C.   A trust deed is an instrument used to transfer personal property.
D.   A tax deed is the deed given to the buyer when a property is sold for past due property taxes.
Question #15
A deed does NOT take effect until it is:
A.   notarized.
B.   delivered and accepted.
C.   signed.
D.   all of the above.
Question #16
Which of the following is a document conveying title with NO warranties, expressed or implied?
A.   Grant deed
B.   Holographic will
C.   Quitclaim deed
D.   All of the above
Question #17
Of the following, which is NOT true of a grant deed?
A.   It conveys any “after-acquired” title.
B.   It warranties that the property being conveyed is free from any undisclosed encumbrances.
C.   It warranties that the owner has not conveyed title to any other person.
D.   It is used primarily to clear a “cloud on title” from the records.
Question #18
With a life estate, the ownership interest is limited to the:
A.   economic life of the property.
B.   Iife of any designated person or persons.
C.   any of the above.
D.   Iife of the grantor.
Question #19
What differentiates an estate for years from an estate from period-to-period is that an estate for years:
A.   can be terminated at any time.
B.   is for a fixed period of time.
C.   is from year-to-year.
D.   is a renewable agreement.

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