Warranty deed - Study guides, Class notes & Summaries

A buyer purchases a rental home that is fully furnished. The document used to transfer title to the furniture is: a. quitclaim deed b. bill of sale c. special warranty deed d. general warranty deed -Correct Answer b. bill of sale Deeds transfer title to real estate, a bill of sale is generally needed to transfer title to personal property. Ben receives a life estate in a property, with his nephew Will designated as the remainderman. When Ben dies, what kind of interest does Will recei...

Tenants in Common - Passed to surviving heirs - Answer Tenants do not have right of survivor ship. If a tenant dies, ownership is passed to the surviving heirs. Joint Tenancy - Right of Survivorship - Answer A form of concurrent ownership, which occurs when two or more persons own a single estate in land, with right of survivorship. Must have equal shares, right to partition. Warranty Deed - Main, basic deed - Answer A deed that guarantees a clear title to the buyer of real prope...

Homes for All considers itself a nonprofit organization. In order for its employees to be exempt from the licensing requirements of the S.A.F.E. Act, each of the following must be true about Homes, except: A) It has tax-exempt status under the Internal Revenue Code B) Its employee compensation package does not encourage an employee to act in his or her own interests over that of his or her clients C) It promotes affordable housing D) It may engage in both nonprofit and for-profit activitie...

Rockwell Exam Real Estate Classes WA Final Exam Questions and Answers A buyer purchases a rental home that is fully furnished. The document used to transfer title to the furniture is: a. quitclaim deed b. bill of sale c. special warranty deed d. general warranty deed --*correct answer*--b. bill of sale Deeds transfer title to real estate, a bill of sale is generally needed to transfer title to personal property. Ben receives a life estate in a property, with his nephew Will designate...

1. The state of the contract between the execution date and the closing. A) Fully executed contracted B) Executed contract C) Option contract D) Executory contract ANS D) Executory contract 2. This lease has a defined specific beginning and ending date. A) Estate at sufferance B) Estate at will C) Estate from period to period D) Estate for years ANS D) Estate for years 3. The TREC ONE-TO-FOUR RESIDENTIAL RESALE CONTRACT requires the seller to deliver to the buyer at closing. A) ...

Ch. 5 - ANSWERDeeds and Titles All RE contracts must be in ______ - ANSWERwriting 6 Essential Elements of a Deed - ANSWER1. Grantor [Giver] 2. Grantee [Receiver] 3. Consideration [something of economic value] 4. Legal Description [metes/bounds, plats, etc] 5. Signatures [once have both, then it is considered executed] 6. Delivered [title not transferred UNTIL delivery to Grantee, filed with county] Covenants vs Warranties - ANSWERCovenant: agreement or promise [4] Warranty: guar...

All of the following EXCEPT ONE are true of "Chattels" a. Personal Property b. Real Property c. Movable Property d. Applied to slaves and women before their emancipation - Answer B. Real property A purchaser to whom a deed conveys real estate can be called a: a. Grantee b. Lessor c. Grantor d. Devisee - Answer A. Grantee Which of the following types of deeds carries the least warranties or representations of title? a. General Warranty Deed b. Special Warranty Deed c. Dee...

RealEstateU- Texas Law of Contracts 2024 Questions with 100% Correct Answers Verified Latest Update At a closing Buyer Betsy and George were provided a deed to transfer theproperty to them from the seller. What type of deed would Buyer Betsy and George most likely receive from the seller at closing if there were no issuesat all with the title of the property? ANS General Warranty Deed 2. When transferring the property to Buyer Betsy and George the seller wouldneed to sign the deed as the a...

ROCKWELL EXAM REAL ESTATE CLASSES WA FINAL EXAM 1 REVIEW QUESTIONS AND ANSWERS, RATED A+/ A buyer purchases a rental home that is fully furnished. The document used to transfer title to the furniture is: a. quitclaim deed b. bill of sale c. special warranty deed d. general warranty deed - -b. bill of sale Deeds transfer title to real estate, a bill of sale is generally needed to transfer title to personal property. Ben receives a life estate in a property, with his nephew Will design...

Rockwell Exam Real Estate Classes WA Final Exam 1 UPDATED ACTUAL Questions and CORRECT Answers A buyer purchases a rental home that is fully furnished. The document used to transfer title to the furniture is: a. quitclaim deed b. bill of sale c. special warranty deed d. general warranty deed - CORRECT ANSWER- b. bill of sale