Barney /
Fletcher
/ /
Principles
/ /
of
/ /
Real
/ /
Estate
/ /
Section
/ //
2 Study Guide Questions With Correct Answers
// // // // // //
A/
/seller /
/under //
a/
/contract /
/of /
/sale /
/is //required //to //deliver //_____ //title, //that //is, //a //title //free //from //reasonable //doubt //as //to //who
//the //owner //is //- //CORRECT //ANSWERS(S)✔✔marketable //title
consists /
/of /
/an /
/examination /
/of /
/the /
/public /
/records /
,/usually /
/performed //by //a //title //company //or //abstractor //- //CORRECT //ANSWERS(S)✔✔title //search
the /
/title /
/searcher /
/begins /
/the /
/examination /
/with /
/the /
/original /
/source //of //title, //or //___ //to //___ //years //prior //depending //on //local //custom //and //circumstances
//- //CORRECT //ANSWERS(S)✔✔40 //to //60
shows /
/all /
/changes /
/in /
/ownership; //each //owner //is //a //link //in //the //chain //- //CORRECT //ANSWERS(S)✔✔chain //of //title
If //
a/
/link /
/in /
/the /
/chain /
/of /
/title /
/is /
/missing, //
a/
/gap /
/in //the //chain //exists //and //there //is //a //_____ //on //the //title //- //CORRECT //ANSWERS(S)✔✔cloud
,Any /
/document, /
/claim, /
/unreleased /
/lien, /
/or /
/encumbrance /
/that //makes //clear //title //doubtful //is //a //_____ //- //CORRECT //ANSWERS(S)✔✔cloud
While /
/the /
/cloud /
/remains, /
/the /
/owner /
/is /
/usually /
/legally /
/unable /
/to /
/convey /
/marketable /
/title, //unless //__________ //- //CORRECT //ANSWERS(S)✔✔the //cloud //is //only //a //minor //nuisance
Most /
/incorporated /
/cities //and //counties //in //the //US //have //land //records. //T/F? //- //CORRECT //ANSWERS(S)✔✔True
Each //of //the //following //statements //about //title //is //true, //except:
A. //A //seller //who //has //title //which //is //reasonably //free //from //doubt //has //marketable //title
B. //A //seller //who //has //"color //of //title" //has //a //defect //against //the //title
C. //The //chain //of //title //is //the //history //of //conveyanced //and //encumbrances //of //the //property
, D. /
/The /
/Torrens /
/System /
/is /
/the /
/most /
/common /
/method /
/of /
/recording /
/title /
/in /
/the /
/US //- /
/CORRECT /
/ANSWERS(S)✔✔The /
/Torrens //System //is //the //most //common //method //of //recording //title //in //the //US
Constructive /
/notice /
/means /
/that /
/an //individual //has //seen //or //been //given //actual //information //or //documents. //T/F? //- //CORRECT
//ANSWERS(S)✔✔False
Which //is //NOT //a //cloud //on //a //title?
A. //a //valid //first //mortgage
B. //
a/
/recorded /
/contract /
/for //deed //under //which //the //buyer //has //defaulted //but //the //contract //has //not //been //removed
C. //lack //of //a //recorded //certificate //of //title //insurance
Fletcher
/ /
Principles
/ /
of
/ /
Real
/ /
Estate
/ /
Section
/ //
2 Study Guide Questions With Correct Answers
// // // // // //
A/
/seller /
/under //
a/
/contract /
/of /
/sale /
/is //required //to //deliver //_____ //title, //that //is, //a //title //free //from //reasonable //doubt //as //to //who
//the //owner //is //- //CORRECT //ANSWERS(S)✔✔marketable //title
consists /
/of /
/an /
/examination /
/of /
/the /
/public /
/records /
,/usually /
/performed //by //a //title //company //or //abstractor //- //CORRECT //ANSWERS(S)✔✔title //search
the /
/title /
/searcher /
/begins /
/the /
/examination /
/with /
/the /
/original /
/source //of //title, //or //___ //to //___ //years //prior //depending //on //local //custom //and //circumstances
//- //CORRECT //ANSWERS(S)✔✔40 //to //60
shows /
/all /
/changes /
/in /
/ownership; //each //owner //is //a //link //in //the //chain //- //CORRECT //ANSWERS(S)✔✔chain //of //title
If //
a/
/link /
/in /
/the /
/chain /
/of /
/title /
/is /
/missing, //
a/
/gap /
/in //the //chain //exists //and //there //is //a //_____ //on //the //title //- //CORRECT //ANSWERS(S)✔✔cloud
,Any /
/document, /
/claim, /
/unreleased /
/lien, /
/or /
/encumbrance /
/that //makes //clear //title //doubtful //is //a //_____ //- //CORRECT //ANSWERS(S)✔✔cloud
While /
/the /
/cloud /
/remains, /
/the /
/owner /
/is /
/usually /
/legally /
/unable /
/to /
/convey /
/marketable /
/title, //unless //__________ //- //CORRECT //ANSWERS(S)✔✔the //cloud //is //only //a //minor //nuisance
Most /
/incorporated /
/cities //and //counties //in //the //US //have //land //records. //T/F? //- //CORRECT //ANSWERS(S)✔✔True
Each //of //the //following //statements //about //title //is //true, //except:
A. //A //seller //who //has //title //which //is //reasonably //free //from //doubt //has //marketable //title
B. //A //seller //who //has //"color //of //title" //has //a //defect //against //the //title
C. //The //chain //of //title //is //the //history //of //conveyanced //and //encumbrances //of //the //property
, D. /
/The /
/Torrens /
/System /
/is /
/the /
/most /
/common /
/method /
/of /
/recording /
/title /
/in /
/the /
/US //- /
/CORRECT /
/ANSWERS(S)✔✔The /
/Torrens //System //is //the //most //common //method //of //recording //title //in //the //US
Constructive /
/notice /
/means /
/that /
/an //individual //has //seen //or //been //given //actual //information //or //documents. //T/F? //- //CORRECT
//ANSWERS(S)✔✔False
Which //is //NOT //a //cloud //on //a //title?
A. //a //valid //first //mortgage
B. //
a/
/recorded /
/contract /
/for //deed //under //which //the //buyer //has //defaulted //but //the //contract //has //not //been //removed
C. //lack //of //a //recorded //certificate //of //title //insurance
