MacIntosh Real Estate School
Uniform Course - Chapter 7
CHAPTER 7 – SHORT-ANSWER QUESTION ANSWERS
1.
surrender, possession
2.a. descent
b.
will
c.
involuntary alienation
d.
voluntary alienation
3.
descent, distribution, will
4.
testate
5.
restrictions, disinherit, will, one half
6.
consent, taxes, mortgage foreclosures, adverse, 18, hostile
7.
voluntary, deed, yes
8.a. General Warranty Deed
b.
Special Warranty Deed
c.
Bargain and Sale Deed
d.
Quit Claim Deed
9.
five
10.a. Covenant of seizin
b. Covenant against encumbrances
c. Covenant of quiet enjoyment
d. Covenant of further assurance
e. Covenant of warranty forever
11.a. By the covenant of seizin, the grantor warranty he owns the property and has a right
to convey it.
b. The covenant against encumbrances warrants that there are no encumbrances on
the property except those that are specifically mentioned in the deed.
c. The grantor warrants by the covenant of quiet enjoyment that the grantee will not be
disturbed or evicted in his possession of the property by someone with better title.
d. By the covenant of further assurance, the grantor promises to either procure or to
sign any documents necessary to make the grantee's title good.
e. The covenant of warranty forever is really part of the covenant of quiet enjoyment. It
is grantor’s promise that grantee will never lose title due to defects grantor may have
caused.
12.
five
13.
Special, nothing
14.
consideration, run with the land, executor's, administrator's, and guardian's
15.
zero, technical
16.
twelve, seven
a.
written instrument;
b.
parties named - grantor and grantee;
c.
words of conveyance;
d.
recital of consideration;
e.
description;
f.
signature of grantor;
g.
delivery and acceptance.
17.
valid, recital, recorded, one hundred, criminal.
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Real Estate Law & Practice (48 credit hrs)
MacIntosh Real Estate School
18.
19.
20.
21.
22.
23.a.
b.
24.
25.a.
b.
c.
26.
27.a.
b.
c.
d.
28.
29.
30.
31.a.
b.
c.
32.a.
b.
c.
d.
e.
33.
34.
35.
36.
37.
38.
39.
40.
41.
42.
43.
44.
Uniform Course - Chapter 7
conveyance
identify, legal
invalid, seal, witnesses
grantee, grantor
acknowledged, acknowledged, executed
It gives notice to all the world of the ownership. This is called constructive notice.
It protects an innocent purchaser with no notice of the transfer.
fee simple absolute, fee
an abstract of title with an attorney's opinion;
title insurance;
a Torrens certificate of title.
property, defects, indemnity
possession, easements;
survey;
Mechanics;
assessments
easements, covenants
date
two, owner's, sales, mortgagee's, lender, owner's.
commitment
Wire Transfer;
Cashier’s Check;
Close the transaction and wait for the funds to be available
Owner’s title insurance policy is paid by the seller;
Lender’s/Mortgagee’s title insurance policy is paid by the buyer/borrower;
Closing fee for the sale split by seller and buyer;
Closing fee for the loan paid by buyer/borrower;
Document preparation/scrivener fee by the broker/agent.
Clerk, Recorder.
actual
history, photocopy
opinion, nature, defects
guarantor, liable, summarizes
loss, negligence
protect, deed, adverse
ships, automobiles
quiet, registrar, Clerk, Recorder.
duplicate, 90
canceled, registrar, titles, duplicate
uncommon, eastern
Copyright 2016 - All Rights Reserved
2
Real Estate Law & Practice (48 credit hrs)
MacIntosh Real Estate School
Uniform Course - Chapter 7
CHAPTER 7 – QUIZ ANSWERS
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
c
b
b
a
c
d
c
d
a
d
a
c
c
d
b
d
d
b
d
d
Copyright 2016 - All Rights Reserved
3
Real Estate Law & Practice (48 credit hrs)
MacIntosh Real Estate School
Copyright 2016 - All Rights Reserved
Uniform Course - Chapter 7
4
Real Estate Law & Practice (48 credit hrs)