LAND LAW 3 (LEASES) EXAM
QUESTIONS AND ANSWERS
A homeowner may be allowed protection from the judgement of creditors as a result
of a states - Answer-A homestead is a land that is owned and occupied as a a family
home. In many states homestead rights protect or exempt a portion of the area or
value of the land from judgements or debts
Two men are coowners in fee simple of a small office building. One of the men dies
intestate and leaves nothing to be distributed to his heirs. The surviving owner is
neither related to the deceased owner nor his creditor. Howwill the surviving owner
acquire the deceased owners interest in the office building? - Answer-Upon a death
of an owner in a joint tenancy all remaining interest do not pass to the heirs of the
deceased owner or according to the will but to the surviving joint tenant or tenants
In a quitclaim deed the grantor covenants - Answer-there are no covenants
(promises) in a quitclaim deed
To be valid a deed must have a - Answer-Legal property description
in regard to a deed the term execution refers to - Answer-to the act of signing it
the covenant affirming that the grantor holds title and has the right to convey it to
another is the covenant - Answer-the covenant seisin affirms that the grantor owns
and has the right to convey title
If a lender wanted to convey title on a foreclosed property with no warranties to the
grantee an no liabilities to the grantor it would be logical to use a - Answer-a
quitclaim deed conveys whatever title the grantor holds and gives no warranties or
covenants past or future This deed would be allow the bank to no future title claims
or liabilities
the probate process - Answer-Probate is the process which a deceased persons
instructions are carried out and is required if the party died testate (with a will)
Which parties must sign a deed to make it valid? - Answer-The grantors
sign(execute)the deed
Ownership in severalty refers to - Answer-Severalty refers to sole (severed)
ownership
Which must always be true of tenants in common - Answer-While shares in a
tenancy in common may be unequal each coowner must sign the document of title
conveyance(deed,contract for deed)
A couple wants to buy a house together if either one should die they want the
deceaseds share to go to that persons heirs. which form of ownership allows this
QUESTIONS AND ANSWERS
A homeowner may be allowed protection from the judgement of creditors as a result
of a states - Answer-A homestead is a land that is owned and occupied as a a family
home. In many states homestead rights protect or exempt a portion of the area or
value of the land from judgements or debts
Two men are coowners in fee simple of a small office building. One of the men dies
intestate and leaves nothing to be distributed to his heirs. The surviving owner is
neither related to the deceased owner nor his creditor. Howwill the surviving owner
acquire the deceased owners interest in the office building? - Answer-Upon a death
of an owner in a joint tenancy all remaining interest do not pass to the heirs of the
deceased owner or according to the will but to the surviving joint tenant or tenants
In a quitclaim deed the grantor covenants - Answer-there are no covenants
(promises) in a quitclaim deed
To be valid a deed must have a - Answer-Legal property description
in regard to a deed the term execution refers to - Answer-to the act of signing it
the covenant affirming that the grantor holds title and has the right to convey it to
another is the covenant - Answer-the covenant seisin affirms that the grantor owns
and has the right to convey title
If a lender wanted to convey title on a foreclosed property with no warranties to the
grantee an no liabilities to the grantor it would be logical to use a - Answer-a
quitclaim deed conveys whatever title the grantor holds and gives no warranties or
covenants past or future This deed would be allow the bank to no future title claims
or liabilities
the probate process - Answer-Probate is the process which a deceased persons
instructions are carried out and is required if the party died testate (with a will)
Which parties must sign a deed to make it valid? - Answer-The grantors
sign(execute)the deed
Ownership in severalty refers to - Answer-Severalty refers to sole (severed)
ownership
Which must always be true of tenants in common - Answer-While shares in a
tenancy in common may be unequal each coowner must sign the document of title
conveyance(deed,contract for deed)
A couple wants to buy a house together if either one should die they want the
deceaseds share to go to that persons heirs. which form of ownership allows this
