Florida Real Estate Exam Chapter 9
Accurate 100%
Title - ANSWER Means ownership. Title of real estate property is the ownership of
specified rights in property that form an estate.
Actual Notice of ownership - ANSWER is provided by physical posession
Constructive Notice is also called - ANSWER Legal Notice and is achieved by recording
documents in the public records. It is the best evidence of ownership as there is no
"proof" of ownership
Abstracts - ANSWER History of title; Linking all past owners of a parcel of land, from the
root of title to the present day, this is called the chain of title.
Title Plant - ANSWER Compilation of copies of documents from the public record
Title search - ANSWER A search of all documents and notations of any documents that
could affect title.
Title Insurance - ANSWER Provides fiancial protection against losses sustained as a
result of a defective title
Mortgagee and Mortgagor - ANSWER Lender and Owner
Junior leans - ANSWER 1. Mortgage lien 2. Vendor lien 3. Judgement lien 4.
Mechanic's lien 5. Federal income tax lien 6. Corporate income tax lien
Lis pendens - ANSWER Notice of pending lawsuit
Broker's rights - ANSWER A broker cannot collect a commission by filing a lien unless
the property owner approves by granting authority as part of a sales/listing contract or a
broker may record a judgement rendered by a Fl court
Forclosure - ANSWER Enforcement of lien
A Deed must: - ANSWER 1. Be in writing 2. name the parties 3. Include legal
description o the property 4. Specify the legal rights being conveyed. Include a
consideration 5. Signed by a grantor and by two witnesses
Bargain and Sale deed - ANSWER Grantor grants, bargains and sells the property to
grantee. Contains a warrant of seisin. It assures to the grantee that the grantor has the
right to convey the property.
Accurate 100%
Title - ANSWER Means ownership. Title of real estate property is the ownership of
specified rights in property that form an estate.
Actual Notice of ownership - ANSWER is provided by physical posession
Constructive Notice is also called - ANSWER Legal Notice and is achieved by recording
documents in the public records. It is the best evidence of ownership as there is no
"proof" of ownership
Abstracts - ANSWER History of title; Linking all past owners of a parcel of land, from the
root of title to the present day, this is called the chain of title.
Title Plant - ANSWER Compilation of copies of documents from the public record
Title search - ANSWER A search of all documents and notations of any documents that
could affect title.
Title Insurance - ANSWER Provides fiancial protection against losses sustained as a
result of a defective title
Mortgagee and Mortgagor - ANSWER Lender and Owner
Junior leans - ANSWER 1. Mortgage lien 2. Vendor lien 3. Judgement lien 4.
Mechanic's lien 5. Federal income tax lien 6. Corporate income tax lien
Lis pendens - ANSWER Notice of pending lawsuit
Broker's rights - ANSWER A broker cannot collect a commission by filing a lien unless
the property owner approves by granting authority as part of a sales/listing contract or a
broker may record a judgement rendered by a Fl court
Forclosure - ANSWER Enforcement of lien
A Deed must: - ANSWER 1. Be in writing 2. name the parties 3. Include legal
description o the property 4. Specify the legal rights being conveyed. Include a
consideration 5. Signed by a grantor and by two witnesses
Bargain and Sale deed - ANSWER Grantor grants, bargains and sells the property to
grantee. Contains a warrant of seisin. It assures to the grantee that the grantor has the
right to convey the property.
