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.   Tenancy in common
B.   Severalty
C.   Joint tenancy
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 only becomes effective at death
B.   It creates a present interest in property
C.   It allows for the transfer of more property
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.   15
B.   1
C.   30
D.   29
Question #6
Property acquired by a husband and wife during marriage and is split 50/50 is called:
A.   community property.
B.   joint tenancy property.
C.   tenancy in common.
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.   The couple must sell it
B.   It reverts back to C
C.   The daughter acquires it
D.   The son-in-law 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.   encroachment.
B.   succession.
C.   accretion.
D.   none of the above.
Question #9
Time, title, interest, and possession are the four essential unities of a:
A.   corporation.
B.   partnership.
C.   tenancy in common.
D.   joint tenancy.
Question #10
In a real estate transaction, the grantor is the:
A.   Iender.
B.   buyer.
C.   seller.
D.   renter.
Question #11
Through the process of escheat, the deceased’s property passes to:
A.   the state.
B.   his or her heirs.
C.   his or her creditors.
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.   prescription.
B.   adverse possession.
C.   Murphy’s Law.
D.   accession.
Question #13
Which type of will, unless signed with an “X,” requires NO witnesses?
A.   Living trust
B.   Holographic
C.   Statutory
D.   All of the above
Question #14
Which of the following statements is FALSE?
A.   A tax deed is the deed given to the buyer when a property is sold for past due property taxes.
B.   A sheriff’s deed is the deed given to the purchaser at a court required sale.
C.   A gift deed is an instrument granting a gift out of love and affection.
D.   A trust deed is an instrument used to transfer personal property.
Question #15
A deed does NOT take effect until it is:
A.   signed.
B.   delivered and accepted.
C.   notarized.
D.   all of the above.
Question #16
Which of the following is a document conveying title with NO warranties, expressed or implied?
A.   Holographic will
B.   Quitclaim deed
C.   Grant deed
D.   All of the above
Question #17
Of the following, which is NOT true of a grant deed?
A.   It warranties that the property being conveyed is free from any undisclosed encumbrances.
B.   It warranties that the owner has not conveyed title to any other person.
C.   It conveys any “after-acquired” title.
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.   any of the above.
C.   Iife of the grantor.
D.   Iife of any designated person or persons.
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 from year-to-year.
C.   is a renewable agreement.
D.   is for a fixed period of time.

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