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Title Producer Study Guide – Complete With Solutions

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Title Producer Study Guide – Complete With Solutions

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  • July 19, 2024
  • 10
  • 2023/2024
  • Exam (elaborations)
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Title Producer Study Guide – Complete With Solutions

1 Acre( = X Feet) ✔️- 43,560 square feet( = What Area)

1 Chain( = X Feet) ✔️- 66 Feet( = What length)

1 Mile (= X Feet) ✔️- 5,280 Feet( = What length)

Area of a Section ✔️- 1 Square Mile / 640 Acres

Area of a Township ✔️- 36 Square Miles (6 mi x 6 mi)

1 Yard( = X Feet) ✔️- 3 Feet( = What length)

Townships ✔️- Areas North and South along the Meridian Line

Base Line ✔️- Line that runs East and West to organize townships

Meridian ✔️- Line that Runs North and South to organize Townships

Direction of Ranges ✔️- Areas East and West along the Base Line

Abandonment ✔️- Voluntary surrender or relinquishment of possession
of a property

Abstract ✔️- History of all transactions shown in public records
affecting a tract of land.

Accertion ✔️- Increase in land area by the gradual deposit of solid
material cause by the action of water.

Acknowledgement ✔️- Formal declaration before a Notary.

Adjustable Rate Mortgage (ARM) ✔️- Mortgage loan under which the
interest rate is periodically adjusted with current market rates.

Adverse Possession ✔️- Possession by one person of land belonging to
another in a manner deemed adverse to the interest of the owner.

, Affidavit ✔️- Written statement made under oath (before notary or
court)

A.L.T.A ✔️- American Land Title Association

Amortization ✔️- Payment to reduce the principal of a debt in regular
periodic installments.

Appraisal ✔️- Report from a third party detailing the estimated value of
real estate.

Appurtenance ✔️- Right or privilege that is a part of the ownership of
property. (Ex. Right of Way)

Arbitration ✔️- Process by which parties cannot agree among
themselves submit the dispute to a third party for judgment.

Assessment ✔️- Valuation of real estate for government purposes.

Assignee/Mortgagee/Grantee/Lessee ✔️- Person who receives benefit.

Assignor(Mortgagor)(Grantor)(Lessor) ✔️- Person who transfers or
gives benefit.

Avulsion ✔️- Sudden change in the channel of a body of water.

Balloon Note ✔️- Promissory note that calls for minimum payments on
principal for a period of time and a lump sum final payment.

Bankruptcy ✔️- Proceeding where assets of an insolvent debtor are
protected and distributed in an equitable manner.

Binder ✔️- Preliminary certificate or Policy

Bundle of Rights ✔️- Beneficial interests an owner has in his property.

Caveat Emptor ✔️- "Buyer Beware" Buyer to examine goods and
property at his/her own risk before buying.

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