Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Constitutional And Administrative Law

Authors: A. Bradley, K. Ewing, Christopher Knight

18th Edition

1292402776, 978-1292402772

More Books

Students also viewed these Law questions

Question

The prefix for bad is

Answered: 1 week ago