LOUISIANA TITLE INSURANCE EXAM
LOUISIANA TITLE INSURANCE EXAM QUESTIONS AND ANSWERS GRADED A+
Gross Living Area ANS >> Total area under one roof;
When Land is expropriated by the state, the landowner may expect
compensation as: ANS >> Just compensations as well as other
expenses such as moving
Buying subject to a mortgage ANS >> Keeps the seller personally liable
for the loan, although it remains with the property after the sale
A contract to sell real property that required the purchase price to be
paid in instalments and title is to be delivered to the buyer only after a
stipulated sum has been paid or the term is met ANS >> Bond for Deed
,LOUISIANA TITLE INSURANCE EXAM
If a property is sold by the lessor during the term of the lease, the
deposit should be turned over to the ANS >> Purchaser, a tenant is can
not sue the purchaser for the deposit if they go bankrupt
Death of a usufructuary, or if the object of the usufruct is destroyed,
will have what effect on a usufruct ANS >> it will terminate
Lack of legal capacity makes the contract ANS >> Relatively Null
All persons have legal capacity to contract except ANS >> Persons
denied of reason at the time of contract
Interdicts
Unemancipated minors
A contract in which the party who accepts an obligation of the other
does not assume a reciprocal obligation is called an
(nothing in return) ANS >> Unilateral Contract
An offer with a termination date for the offer in Louisiana is said to be
ANS >> Irrevocable
For a lessee to get a security deposit back, he must: ANS >> Do
nothing, the lessor is required to return the deposit within 30 days of
the end of the lease
,LOUISIANA TITLE INSURANCE EXAM
If a contract is an earnest money contract, then ANS >> Neither party
can sue for specific performance or other damages
What does not require to perfect a sale in Louisiana ANS >>
Constructive notice of the sale (making it public)
What are the requirements to perfect a sale in Louisiana ANS >> The
Price
What is being sold
Consent of the parties
If two or more persons own the same piece of property, each has an
undivided share, this is referred to as an ANS >> Undivided Interest
A nonfarm lease that has expired s presumed to have been continued
for another month if the tenant holds over without opposition for how
long ANS >> one week, must give 10 days notice to vacate
Acceptance of an irrevocable offer under ANS >> When the offer is
signed and received by the offeror
When a contract is an earnest money contract ANS >> Neither party
can sue for specific performance
, LOUISIANA TITLE INSURANCE EXAM
A vendor who wishes to keep a life interest and convey the remainder
to a relative may best do this by ANS >> Prepare a conveyance and
reserve the right of usufruct
In Louisiana, the closest term to consideration is ANS >> Cause
An offer that specifies a time for acceptance is ANS >> Irrevocable
during that time
A seller recently received $40,000 for a house worth $100,000. He
would have 1 year to claim: ANS >> Lesion Beyond Moiety
Upon death of a spouse, the surviving spouse must be given ANS >>
Usufruct over the community property
A foreclosure may be followed by a deficiency judgement only if there is
a ANS >> Foreclosure with appraisement
The buyer in a contract is called the ANS >> Vendee
The seller in a contract is called the ANS >> Vendor
LOUISIANA TITLE INSURANCE EXAM QUESTIONS AND ANSWERS GRADED A+
Gross Living Area ANS >> Total area under one roof;
When Land is expropriated by the state, the landowner may expect
compensation as: ANS >> Just compensations as well as other
expenses such as moving
Buying subject to a mortgage ANS >> Keeps the seller personally liable
for the loan, although it remains with the property after the sale
A contract to sell real property that required the purchase price to be
paid in instalments and title is to be delivered to the buyer only after a
stipulated sum has been paid or the term is met ANS >> Bond for Deed
,LOUISIANA TITLE INSURANCE EXAM
If a property is sold by the lessor during the term of the lease, the
deposit should be turned over to the ANS >> Purchaser, a tenant is can
not sue the purchaser for the deposit if they go bankrupt
Death of a usufructuary, or if the object of the usufruct is destroyed,
will have what effect on a usufruct ANS >> it will terminate
Lack of legal capacity makes the contract ANS >> Relatively Null
All persons have legal capacity to contract except ANS >> Persons
denied of reason at the time of contract
Interdicts
Unemancipated minors
A contract in which the party who accepts an obligation of the other
does not assume a reciprocal obligation is called an
(nothing in return) ANS >> Unilateral Contract
An offer with a termination date for the offer in Louisiana is said to be
ANS >> Irrevocable
For a lessee to get a security deposit back, he must: ANS >> Do
nothing, the lessor is required to return the deposit within 30 days of
the end of the lease
,LOUISIANA TITLE INSURANCE EXAM
If a contract is an earnest money contract, then ANS >> Neither party
can sue for specific performance or other damages
What does not require to perfect a sale in Louisiana ANS >>
Constructive notice of the sale (making it public)
What are the requirements to perfect a sale in Louisiana ANS >> The
Price
What is being sold
Consent of the parties
If two or more persons own the same piece of property, each has an
undivided share, this is referred to as an ANS >> Undivided Interest
A nonfarm lease that has expired s presumed to have been continued
for another month if the tenant holds over without opposition for how
long ANS >> one week, must give 10 days notice to vacate
Acceptance of an irrevocable offer under ANS >> When the offer is
signed and received by the offeror
When a contract is an earnest money contract ANS >> Neither party
can sue for specific performance
, LOUISIANA TITLE INSURANCE EXAM
A vendor who wishes to keep a life interest and convey the remainder
to a relative may best do this by ANS >> Prepare a conveyance and
reserve the right of usufruct
In Louisiana, the closest term to consideration is ANS >> Cause
An offer that specifies a time for acceptance is ANS >> Irrevocable
during that time
A seller recently received $40,000 for a house worth $100,000. He
would have 1 year to claim: ANS >> Lesion Beyond Moiety
Upon death of a spouse, the surviving spouse must be given ANS >>
Usufruct over the community property
A foreclosure may be followed by a deficiency judgement only if there is
a ANS >> Foreclosure with appraisement
The buyer in a contract is called the ANS >> Vendee
The seller in a contract is called the ANS >> Vendor
