Texas Principles of Real Estate II Final Exam: Questions & Answers: Latest Updated.

Texas Principles of Real Estate II Final Exam: Questions & Answers: Latest Updated Written documents affecting a title to real estate are recorded: A. where the titleholder resides B. where the titleholder has legal residence C. at the county clerk's office where the property is located D. at any county clerk's office in Texas ✔✔ C. at the county clerk's office where the property is located A person appointed by a court to settle the estate of a deceased person when the executor cannot perform or refuses to perform is: A. another executor B. a legatee C. an administrator D. a devisee ✔✔ C. an administrator What is an abstract of title? A. title insurance B. a history of all recorded activity affecting a parcel of real estate C. a judgment on real property D. a patent ✔✔ B. a history of all recorded activity affecting a parcel of real estate A title insurance policy in favor of the mortgagee will insure the: A. owner B. buyer C. buyer and seller D. lender ✔✔ D. lender A chain of title shows the linkage of property ownership that connects the present owner to the original source of title. In most cases it starts with: A. ownership from 1955 B. chattel C. a suit in federal court D. the original grant of the land from the government to a private citizen ✔✔ D. the original grant of the land from the government to a private citizen A handwritten will signed by the testator but not witnessed is known as a(n): A. nuncupative will B. holographic will C. oral will D. formal will ✔✔ B. holographic will A voluntary gift of private land to the public is known as: A. alienantion B. dedication C. reliction D. annexation ✔✔ B. dedication The General Warranty Deed contains: A. the covenant of seisin B. the covenant against encumbrances C. both A and B D. neither A or B ✔✔ C. both A and B In order to convey title to real property, a deed must be signed by the: A. grantee B. grantor C. agent D. buyer ✔✔ B. grantor Sam has moved onto a property owned by Fred. Sam is not leasing the property. If Sam holds possession of the property for a long period of time, he will own the property thru adverse possession. A. True B. False ✔✔ A. True The act passed in 1968 to protect the consumer from land scams is the: A. Buyers Land Protection Act B. Interstate Land Sales Full Disclosure Act (ILSFDA or LISA) C. Federal Land and Housing Act D. Texas Public Ownership ✔✔ B. Interstate Land Sales Full Disclosure Act (ILSFDA or LISA) The trustee in a deed of trust: A. writes the contract for the buyer. B. shows the property to the buyer C. forecloses on the property in the event of default.