Gold Coast Florida Real Estate Exam - Chapter 9 Complete Questions and Answers
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Course
Gold Coast Real Estate
Institution
Gold Coast Real Estate
Gold Coast Florida Real Estate Exam - Chapter 9 Complete Questions and Answers
Title to Real Property
Title means
ownership.
Constructive Notice
also called legal notice, is achieved by
recording documents in the public records.
Marketable or merchantable title is
title in
fee simp...
Gold Coast Florida Real Estate Exam -
Chapter 9 Complete Questions and Answers
Title to Real Property
Title means
ownership.
Constructive Notice
also called legal notice, is achieved by
recording documents in the public records.
Marketable or merchantable title is
title in
fee simple that is free from litigation and defects
A search of the public records, linking all past owners of a parcel of land, from the root of the title to
the present day, is called
chain of title or an Abstract
When an attorney conducts such a review and renders an opinion, it is called an
opinion of title
Title Insurance
Provides protection against losses as the result of a
defective title.
The policy is not
transferrable
Transferring or conveying ownership from one party to another is called
"alienation of title".
Alienation may be
voluntary or involuntary.
Define a Public Grant
Transfer of title from the government to an individual
Define a Deed
A document that conveys title from one party to another
Define a Will
A document that provides for the transfer of title upon death
Define Adverse Possession
, A legal principle under which an owner may lose title to another person who has taken control of the
property.
In adverse possession, the person taking possession must enter into
-Open
-Adverse
-Hostile
-Exclusive
-For 7 years
Define Estoppell
A legal principle under which ownership may be lost because of the owner's failure to provide public
notice of ownership.
Eminent Domain
The government's right to take private property for public benefit
Escheat
Reversion of property to the state if someone dies intestate and with no heirs
Transferring or conveying ownership from one party to another is called
Alienation of Title
Alienation of title is accomplished by executing a document called a
deed.
Clauses in Deeds
A Premises Clause is
the only legally necessary clause required in a deed
Names the Parties
Contains Words of Conveyance
States a Consideration
Includes Date of Transfer
And provides the Legal Description
Clauses in Deeds
A Habendum Clause
Aka To have and to hold
Specifies legal rights to be conveyed
A Quitclaim Deed contains what kind of warrants?
Contains no warrants of any kind
In a Quitclaim Deed the grantor does what?
relinquishes any interest to the grantee
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