REE 3433 Exam 3 Questions and Answers All Correct
What is a procedural necessity in foreclosure? - Answer-There must be public notice and advertisements in local newspapers.
Trahan privately signed the deed to his property naming his daughter Beverly as grantee. He did not, however, tell her ...
REE 3433 Exam 3 Questions and
Answers All Correct
What is a procedural necessity in foreclosure? - Answer-There must be public notice
and advertisements in local newspapers.
Trahan privately signed the deed to his property naming his daughter Beverly as
grantee. He did not, however, tell her what he had done. Trahan continued to live and
pay taxes on the property. When he died, Beverly discovered the deed in Trahan's
safety deposit box. She now claims she has been the owner from the time her father
signed the deed and placed it in the safety deposit box. Beverly: - Answer-is not correct,
since the deed must be delivered to her when her father, the grantor, is alive.
Generally, courts are not concerned with the adequacy of consideration stated in a
deed. - Answer-True
An acknowledgment made by a notary of the grantor's and the witnesses' signatures is
not required to make a deed legally valid, but it is required for recordation. - Answer-
True
A valid deed must include: - Answer-the grantee's name.
An exception is something taken back from the grant of real estate while a reservation is
some part of the estate which is not granted. - Answer-False
A tenant at sufferance has no right or permission to be on the property, but is still not a
trespasser since his original entry onto the property was legal. - Answer-True
Examples of leasehold estates are: - Answer-the estate for years
With regard to a landlord's duty to repair the tenant's residence: - Answer-the landlord
may, under provisions negotiated in the lease, greatly limit the duty of repair so long as
the limits do not violate public policy.
Gunter agrees to sell his home to Daniel and they sign a real estate contract on August
1. The closing is scheduled for September 1. Gunter cancels his homeowner's
insurance on August 2. On August 16, the house burns down. Daniel did not buy
homeowners's insurance. Under the doctrine of equitable conversion: - Answer-Daniel
bears the risk and must pay to rebuild the house.
In order for a party who obtains title insurance to collect on a defect of title on the
property, the party must: - Answer-make a claim under the title insurance policy
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