Missouri Title Insurance Exam Questions and Answers |Complete Solutions
Graded A+ |100% Correct
The HUD-1 Settlement Statement is generally prepared by:
A. The real estate agent
B. The lender
C. The title company
D. The abstractor C. The title company
If a joint tenant sells their interest in a property, the tenancy becomes:
A. Tenants in common
B. Sole owner
C. Life estate tenant
D. All of the above A. Tenants in Common
Releasing a mortgage is the responsibility of:
A. The buyer
B. The seller
C. The mortgagee
D. The court house C. The mortgagee
Title insurance provides general coverage of events occurring _____ the issuance of the policy.
Before
Pursuant to RESPA, the title company used to conduct a closing should be chosen by'
, A. The real estate agent
B. The seller
C. The lender
D. The buyer D. The Buyer
The legal concept that puts the insurance company in the place of the insured
With ____________________ in ________________, the split doesn't have to be 50/50, and is
the only split where the heir gets proportion of property when the owner dies. Tenants in
Common
With _________ _____________, it's a 50/50 split and whoever lives the longest gets the rights
to the house. Joint Tenants with the Right of Survivorship
A ______________ _______________ deed only guarantees protection from things that
happened under the current property owner. Special Warranty
A ________________ ________________ deed is used if the grantor warrants a property
against claims forever, and guarantees protection. General Warranty
A __________ ___________ deed offers the least amount of protection to the buyer. Quit
Claim
A _______ ____________ says that when someone dies, the property is then transferrable.
life estate
___________ ___________ is real property ownership free of liens, defects, encumbrances, or
claims. Clear Title
Graded A+ |100% Correct
The HUD-1 Settlement Statement is generally prepared by:
A. The real estate agent
B. The lender
C. The title company
D. The abstractor C. The title company
If a joint tenant sells their interest in a property, the tenancy becomes:
A. Tenants in common
B. Sole owner
C. Life estate tenant
D. All of the above A. Tenants in Common
Releasing a mortgage is the responsibility of:
A. The buyer
B. The seller
C. The mortgagee
D. The court house C. The mortgagee
Title insurance provides general coverage of events occurring _____ the issuance of the policy.
Before
Pursuant to RESPA, the title company used to conduct a closing should be chosen by'
, A. The real estate agent
B. The seller
C. The lender
D. The buyer D. The Buyer
The legal concept that puts the insurance company in the place of the insured
With ____________________ in ________________, the split doesn't have to be 50/50, and is
the only split where the heir gets proportion of property when the owner dies. Tenants in
Common
With _________ _____________, it's a 50/50 split and whoever lives the longest gets the rights
to the house. Joint Tenants with the Right of Survivorship
A ______________ _______________ deed only guarantees protection from things that
happened under the current property owner. Special Warranty
A ________________ ________________ deed is used if the grantor warrants a property
against claims forever, and guarantees protection. General Warranty
A __________ ___________ deed offers the least amount of protection to the buyer. Quit
Claim
A _______ ____________ says that when someone dies, the property is then transferrable.
life estate
___________ ___________ is real property ownership free of liens, defects, encumbrances, or
claims. Clear Title
