Gold Coast Chapter 9:Exam Questions With Accurate
Solutions.
"Title" means (blank). When a party (blank), he/she has (blank): - accurate
answers-Ownership;
Owns a property;
Legal title to it.
"Equitable title" is: - accurate answers-The right to gain ownership interest in
the future. Equitable title effectively confers a financial or "equitable" interest
in a property.
A party entitled to the ownership of property must be able to (blank), or risk
(blank) to another claimant: - accurate answers-Show he/she has acquired
such right;
Losing the property.
Two methods that may be used to provide evidence of ownership are: -
accurate answers-- Actual notice;
- Constructive notice.
"Actual notice": - accurate answers-Actual notice of ownership is provided by
physical possession. There is validity in the saying "possession is nine-tenths
of the law". Being in possession of property and claiming ownership is called
actual notice. A party who has been shown a deed also has been given actual
notice. Actual notice can be either expressed or implied.
"Constructive notice": - accurate answers-Also called "legal notice", is
achieved by recording documents in the public records. Recording a
document has the same legal effect as showing it to the entire world.
Documents are recorded in the office of the clerk of the circuit court in the
county where the property is located.
,Marketable, merchantable, or clear title to real property is title in (blank) that
is (blank), which enables an owner to (blank) or (blank) for its (blank): -
accurate answers-Fee simple;
Free from litigation and defects;
Hold it in peace;
Sell it to a person of reasonable prudence;
Fair market value.
There is no such thing as proof of (blank) to property; there is only (blank). To
ascertain whether or not (blank) is (blank) and (blank), the (blank) must be
(blank) to assure that there are no outstanding or unresolved claims that
exist: - accurate answers-Good title;
Evidence to support the claim;
Title;
Good and merchantable;
Record of ownership;
Traced back for a period of time necessary;
To ascertain whether or not title is good and merchantable, the record of
ownership must be traced back for a period of time necessary to assure that
no outstanding or unresolved claims exist against the title. This time period at
which this assertion can be made is called the (blank). In Florida, the (blank)
extends back (blank) years from the recording of the claim: - accurate
answers-Root of title;
Root of title;
30 years.
, A chain of title is created by a (blank) that results in (blank) that (blank): -
accurate answers-Search of the public records;
A timeline of recorded documents;
Links all past owners of a parcel of land from the root of title to present day.
Abstracting and title insurance companies compile copies of the documents
from the public records into a ("blank"). The (blank) contains all of the
documents that pertain to real estate, which are arranged according to
(blank): - accurate answers-"Title plant";
Title plant;
The date of recording in the public records.
Since many different types of documents may affect the title to property, a
search of all documents must be made. (Blank) are made regarding (blank).
This process is called a ("blank"): - accurate answers-Notations;
Any documents that could affect the title;
"Title search".
In some cases, it may be desirable to have copied made of all documents that
have an effect on the title to the property that is investigated. These can be
assembled in date order and placed in a binder. A cover page that (blank) is
called the (blank), or (blank) page. When compiled in this fashion, it is called
a(n) (blank): - accurate answers-Identifies the property;
Caption or caption page;
Abstract.
Since an abstract ends at a certain point in time, it may become necessary to
obtain current information about the property in the future. A(n) (blank) is a
(blank) of a (blank): - accurate answers-Update;
Newer version;
Solutions.
"Title" means (blank). When a party (blank), he/she has (blank): - accurate
answers-Ownership;
Owns a property;
Legal title to it.
"Equitable title" is: - accurate answers-The right to gain ownership interest in
the future. Equitable title effectively confers a financial or "equitable" interest
in a property.
A party entitled to the ownership of property must be able to (blank), or risk
(blank) to another claimant: - accurate answers-Show he/she has acquired
such right;
Losing the property.
Two methods that may be used to provide evidence of ownership are: -
accurate answers-- Actual notice;
- Constructive notice.
"Actual notice": - accurate answers-Actual notice of ownership is provided by
physical possession. There is validity in the saying "possession is nine-tenths
of the law". Being in possession of property and claiming ownership is called
actual notice. A party who has been shown a deed also has been given actual
notice. Actual notice can be either expressed or implied.
"Constructive notice": - accurate answers-Also called "legal notice", is
achieved by recording documents in the public records. Recording a
document has the same legal effect as showing it to the entire world.
Documents are recorded in the office of the clerk of the circuit court in the
county where the property is located.
,Marketable, merchantable, or clear title to real property is title in (blank) that
is (blank), which enables an owner to (blank) or (blank) for its (blank): -
accurate answers-Fee simple;
Free from litigation and defects;
Hold it in peace;
Sell it to a person of reasonable prudence;
Fair market value.
There is no such thing as proof of (blank) to property; there is only (blank). To
ascertain whether or not (blank) is (blank) and (blank), the (blank) must be
(blank) to assure that there are no outstanding or unresolved claims that
exist: - accurate answers-Good title;
Evidence to support the claim;
Title;
Good and merchantable;
Record of ownership;
Traced back for a period of time necessary;
To ascertain whether or not title is good and merchantable, the record of
ownership must be traced back for a period of time necessary to assure that
no outstanding or unresolved claims exist against the title. This time period at
which this assertion can be made is called the (blank). In Florida, the (blank)
extends back (blank) years from the recording of the claim: - accurate
answers-Root of title;
Root of title;
30 years.
, A chain of title is created by a (blank) that results in (blank) that (blank): -
accurate answers-Search of the public records;
A timeline of recorded documents;
Links all past owners of a parcel of land from the root of title to present day.
Abstracting and title insurance companies compile copies of the documents
from the public records into a ("blank"). The (blank) contains all of the
documents that pertain to real estate, which are arranged according to
(blank): - accurate answers-"Title plant";
Title plant;
The date of recording in the public records.
Since many different types of documents may affect the title to property, a
search of all documents must be made. (Blank) are made regarding (blank).
This process is called a ("blank"): - accurate answers-Notations;
Any documents that could affect the title;
"Title search".
In some cases, it may be desirable to have copied made of all documents that
have an effect on the title to the property that is investigated. These can be
assembled in date order and placed in a binder. A cover page that (blank) is
called the (blank), or (blank) page. When compiled in this fashion, it is called
a(n) (blank): - accurate answers-Identifies the property;
Caption or caption page;
Abstract.
Since an abstract ends at a certain point in time, it may become necessary to
obtain current information about the property in the future. A(n) (blank) is a
(blank) of a (blank): - accurate answers-Update;
Newer version;
