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MA Salesperson Exam Module 5: Transfer of Property Study Guide Solutions $12.49   Add to cart

Exam (elaborations)

MA Salesperson Exam Module 5: Transfer of Property Study Guide Solutions

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MA Salesperson Exam Module 5: Transfer of Property Study Guide Solutions Deeds - ANSWER-- How RE is transferred or conveyed -legal document that transfers title or ownership -receipt for RE Valid deed must contain: - ANSWER-§ Must be written § Grantor must be legally competent § Must name...

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  • November 4, 2024
  • 11
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • MA Salesperson
  • MA Salesperson
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KaylinHoffman
Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024




MA Salesperson Exam Module 5: Transfer

of Property Study Guide Solutions


Deeds - ANSWER✔✔-- How RE is transferred or conveyed


-legal document that transfers title or ownership


-receipt for RE


Valid deed must contain: - ANSWER✔✔-§ Must be written


§ Grantor must be legally competent


§ Must name the grantee


§ Exchange of consideration


§ Complete and accurate description of the land


§ Granting clause


§ Delivery and acceptance


habendum clause - ANSWER✔✔-used in a deed if the interested being granted needs to be defined or

limited


a valid deed does not require - ANSWER✔✔-the signature of the grantee, the date, witnesses,

notarization, or recordation


recording is: - ANSWER✔✔-recommended but not required


Copyright ©Stuvia International BV 2010-2024 Page 1/11

, Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024


constructive notice - ANSWER✔✔-Public notice given by recording a document with the county recorder


actual notice - ANSWER✔✔-Express information or fact; that which is known; direct knowledge. You are

specifically told the information


basic types of deeds - ANSWER✔✔-General Warranty Deed


Special Warranty Deed


Bargain and Sale Deed


Quit Claim Deed


general warranty deed - ANSWER✔✔-require the grantor to accept liability for any claims made against

the title to the property, even if the claim originated prior to the grantor's term of ownership. No longer

commonly used. Can be useful when they buyer wants protection against any unknown title defects


warranties covered by general warranty deed - ANSWER✔✔-covenant of seizin, covenant against

encumbrances, covenant of quiet enjoyment, covenant of further assurances, covenant of warranty

forever


covenant of seizin - ANSWER✔✔-the grantor warrant that they own, and may convey the property


Covenant against encumbrances - ANSWER✔✔-a promise that the property is not encumbered with

liens, easements, or other such limitations except as noted in the deed


covenant of further assurances - ANSWER✔✔-The grantor promises to obtain and deliver any instrument

needed to make the title good.


covenant of quiet enjoyment - ANSWER✔✔-a promise that the property will not be claimed by someone

with a better claim to title, the grantee's title will be good against any court actions


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