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.   Tenancy in common
C.   Severalty
D.   All of the above
Question #2
A woman CANNOT receive title to real property by:
A.   escheat.
B.   adverse possession.
C.   a patent.
D.   a gift deed.
Question #3
A written instrument that conveys and evidences title is called a(n):
A.   deed.
B.   will.
C.   transfer.
D.   implied warranty.
Question #4
What distinguishes a will from other types of property transfers?
A.   It creates a present interest in property
B.   It only becomes effective at death
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.   30
B.   15
C.   1
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.   It reverts back to C
B.   The couple must sell it
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.   joint tenancy.
B.   corporation.
C.   tenancy in common.
D.   partnership.
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.   his or her creditors.
B.   his or her heirs.
C.   the state.
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.   Statutory
B.   Living trust
C.   Holographic
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 trust deed is an instrument used to transfer personal property.
C.   A gift deed is an instrument granting a gift out of love and affection.
D.   A sheriff’s deed is the deed given to the purchaser at a court required sale.
Question #15
A deed does NOT take effect until it is:
A.   signed.
B.   notarized.
C.   delivered and accepted.
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.   Grant deed
C.   Quitclaim deed
D.   All of the above
Question #17
Of the following, which is NOT true of a grant deed?
A.   It is used primarily to clear a “cloud on title” from the records.
B.   It warranties that the property being conveyed is free from any undisclosed encumbrances.
C.   It conveys any “after-acquired” title.
D.   It warranties that the owner has not conveyed title to any other person.
Question #18
With a life estate, the ownership interest is limited to the:
A.   any of the above.
B.   Iife of the grantor.
C.   Iife of any designated person or persons.
D.   economic life of the property.
Question #19
What differentiates an estate for years from an estate from period-to-period is that an estate for years:
A.   is a renewable agreement.
B.   is from year-to-year.
C.   is for a fixed period of time.
D.   can be terminated at any time.

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