Question
Hello the last tutor have gave me the wrong answers for my questions can you please help me and give me the correct answers. 1.
Hello the last tutor have gave me the wrong answers for my questions can you please help me and give me the correct answers.
1. The material terms in a contract to convey real estate would probably not include which of the following?
Names of the grantor
Names of thegrantee
Consideration paid
Description of the property
Location where the deed will executed by the grantor
None of the above
4. The ' modern rule' with regard to the risk of loss,in most situations,is:
Seller retains risk of loss from the time of contracting until closing
Buyer assumes risk of loss from time of contracting until closing
The escrow agent assumes the risk of loss until closing
The risk of loss willdepend on the rules on the local municipality
None of the above
6.. When encumbrances to title exist,which of the following is true?
Seller can ignore these unless the escrow agent requires they be addressed
The seller has a reasonableamount of time to address and cure the defects
The buyer has a reasonableamount of time to address and cure the defects
The buyer can never waive outstanding encumbrances
The escrow agent has a reasonable amount of time to cure the defects
None of the above
7. When a buyer is involvedin a commercial transaction dealing with commercialreal estate:
The seller has a duty to disclose any serious environmentor other defects
The buyer has a duty to disclose any seriousenvironmentor other defects
The escrow agent has a duty to disclose any serious defects
The buyer's agent has a duty to disclose any serious defects
None of the above
11. A notary public isrequired on a real estate deed if you want to:
Have the grantors signature upheld in court
Havethegranteessignature upheld in court
Record the deed in the real estate records
Have the legal description affirmed by the country clerk
None of the above
14. Barb Smith uses adjoining property as a shortcut to the public highway. Which of the following is true?
If the use was allowed by the owner Barb Smith can obtain title by adverse possession
Ifthe use wasnot continuous Barb Smith may acquire title by use
Ifthe use wasopen and hostile Barb Smith may acquire title by statue
Ifthe use washidden Barb Smith may acquire title by rule
None of the above
16. In general parties usually use a "form"deed instead of drafting one from scratch in order to:
Comply with all the statutory conveyance requirements
Include all the material terms
Insure important details are not omitted
Make thetransaction more efficient
All of the above
None of the above
18. Recording a deed in the real estate records
Validates the transfer and deed
Validates the accuracy of the legal description
Validatesthe title
Validates the identity of the parties
None of the above
21. Jan Jones is buying property and has checked title to insure that the grantor, Bob Smith, has clear title. She notices someone living on the land to be conveyed that is not Bob Smith. Does she have a duty to inquire with regard to the possible adverse possession?
No, written title will always prevail
Yes, but only if the possession was not voluntarily allowed by Bob Smith
Yes, but only if an easement has been granted
No,hostile possession cannot ripen into title without an agreement in writing
No, there is no written agreement
23. Two individuals own an undivided on-half interest in a tract of land.One of the individuals is a farmer and wants to grow corn so plants 100acres.Which of the following is true?
The farmer needs the co-owners permission to plant a crop
The farmerneeds to account to the co-owner for any profit
The farmerneeds a court order to plant the corn
The farmer can use the property without restriction or limitation
None of the above
25. A party forges Sally Jone's signature ona deed to Bob Smith. Bob Smith sells the property to John Sprite. Who holds title?
Jone since the forged signature is ineffective
Smith since the forged signature is ineffective
Sprite since he was a good faith purchaser
Depends on the intent of the parties
None of the above
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