grantdeed vs quitclaim with inochoate right
difference trust deed and mortgage
installment note sample , california economic ranking,
legal
deficiency judgement sample, due On Sale Real Clause
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AACDA CADBB
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DDCDA BACAA
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TRY THIS BROKER QUESTIONS (ANS IN file as follows)
Legally, oil and gas are referred to as being ________, since they are transitory.
a) an incorporeal hereditament
b) a profit a prendre
c) fugacious matter
d) a right of appropriation
The purpose of a(n) ________, like an easement and a lease, is to grant the right to use property owned by another person.
a) encumbrance
b) personal privilege
c) unlawful detainer
d) license
A(n) _______ is an individual who has the oral authority of the grantor to sign a grant deed by his own hand on behalf of the grantor.
a) real estate agent
b) property appraiser
c) unlicensed attorney
d) amanuensis
If a title condition, covenant or restriction (CC&R) is agreed to in the purchase agreement but is erroneously omitted when escrow prepares the grant deed, the grant deed can be ordered corrected to include the covenant, a legal process called:
a) merger.
b) seisin.
c) reformation.
d) inchoate.
In addition to the minimum franchise tax, an LLC with over _______ in annual gross income is assessed an annual gross income fee by the Franchise Tax Board (FTB).
a) $100,000
b) $250,000
c) $400,000
d) $425,000
Money paid to even a distribution on partition of co-owned real estate is legally called:
a) owelty
b) restitution
c) reimbursement
d) restoration
__________ is the excess of the buyer's payments over the money losses incurred by the seller due to the buyer's breach of a land sales contract.
a) Reformation
b) Owelty
c) Restitution
d) Ernest money
_____ is an obligation imposed on one individual, such as a broker, and owned to another individual, such as a seller, to pay a loss incurred by a third person, such as a buyer.
a) A hold harmless arrangement
b) A good-faith settlement
c) Indemnity
d) Proportional liability
The prevailing party, determined when the court enters its final judgment in the case, is the individual who:
a) receives the greater money damages award.
b) receives the requested equitable relief.
c) successfully defends against the plaintiff's claim and the plaintiff obtains no relief.
d) any of the above
The limited liability protection for the members of an LLC is the same as for:
a) a nonpublic partnership.
b) the shareholders in a corporation.
c) a general partnership.
d) a limited partnership.
Although title to an income-producing property held by co-owners for profit is vested in the names of all the co-owners, each co-owner actually holds title as a(n) _______ on behalf of all the tenant in-common co-owners, collectively called a(n) ________.
a) tenant-in-common; partnership
b) sole owner; trust
c) trustee; partnership (NEED MORE EXPLANATION?? PLEASE ASK?)
d) partnership; tenancy in partnership
A(n) _________ is any corporation or bank which is authorized to engage in the activities of a trust business.
a) trust business
b) foreign corportation
c) trust company
d) Massachusetts trust
For a written declaration to express an intent to transmute property from a community asset to a separate asset of one spouse, the declaration signed must:
a) contain an explicit statement confirming the spouse conveys and terminates the community property interest held in the property.
b) include the word "transmutation."
c) include consideration.
d) both b and c
what is transmutation?? first
________ cover losses incurred due to violations of conditions, covenants and restrictions (CC&Rs), damage from extraction of water or minerals, mechanic's liens, encroachments and the effects of inflation.
a) Exclusions
b) Endorsements
c) Written commitment to issue
d) Plain language policies
Which of the following is considered a voidable deed:
a) a deed signed and delivered by a seller under the age of 18.
b) a deed materially altered without the grantor's consent.
c) a forged deed. (DURESS, UNDUE INFLUENCE FRAUD FORGERY MENACE ...)
d) a deed from a grantor of unsound mind, but not entirely without understanding, made before the grantor's incompetency to convey has been adjudicated. (OTHER IS VOID)
A grant deed given to provide a creditor with the property as security or collateral is a(n):
a) mortgage-in-fact. (WHAOO....LIKE ATTORNEY IN FACT / FINDING OF FACT )
b) disguised lien.
c) invalid security device.
d) constructive delivery.
A personal restrictive covenant is enforceable only against the persons agreeing to it, not future owners of the property, called:
a) remote grantees. (ONLY PERSONAL TO THIS AND NOT FUTURE)
b) successors.
c) material grantees.
d) harmless successors.
Ownership of possessory interests in real estate include:
a) a life estate
b) an easement
c) a license
d) both a and b
___________ is based on an interference with possession since it affects the real estate. A(n) ______ is an interference with the enjoyment of property since it affects the senses.
a) Nuisance; easement
b) Trespass; nuisance (SO GOOD TO KNOW)
c) Trespass; encroachment
d) Nuisance; trespass
A(n) ___________ is any activity specifically declared by statute to be a nuisance.
a) statutorily immune annoyance
b) nuisance per se
c) both a and b
d) neither a nor b
_________ determines the physical location of the court which has jurisdiction and is the correct forum to hear the matter.
a) Venue
b) Jurisdiction
c) An equitable remedy
d) Both a and c
The federal government has the right to regulate all commercial enterprises which affect:
a) California commerce.
b) the real estate industry.
c) interstate commerce.
d) Arizona commerce.
Under the common law, legal disputes were decided ________ before a judge.
a) by establishing elaborate statutes to address the issue
b) on a case-by-case basis
c) by a sheriff
d) none of the above
Legally, oil and gas are referred to as being ________, since they are transitory.
a) an incorporeal hereditament
b) a profit a prendre
c) fugacious matter
d) a right of appropriation
a) an incorporeal hereditament
b) a profit a prendre
c) fugacious matter
d) a right of appropriation
The purpose of a(n) ________, like an easement and a lease, is to grant the right to use property owned by another person.
a) encumbrance
b) personal privilege
c) unlawful detainer
d) license
A(n) _______ is an individual who has the oral authority of the grantor to sign a grant deed by his own hand on behalf of the grantor.
a) real estate agent
b) property appraiser
c) unlicensed attorney
d) amanuensis
If a title condition, covenant or restriction (CC&R) is agreed to in the purchase agreement but is erroneously omitted when escrow prepares the grant deed, the grant deed can be ordered corrected to include the covenant, a legal process called:
a) merger.
b) seisin.
c) reformation.
d) inchoate.
In addition to the minimum franchise tax, an LLC with over _______ in annual gross income is assessed an annual gross income fee by the Franchise Tax Board (FTB).
a) $100,000
b) $250,000
c) $400,000
d) $425,000
Money paid to even a distribution on partition of co-owned real estate is legally called:
a) owelty
b) restitution
c) reimbursement
d) restoration
__________ is the excess of the buyer's payments over the money losses incurred by the seller due to the buyer's breach of a land sales contract.
a) Reformation
b) Owelty
c) Restitution
d) Ernest money
_____ is an obligation imposed on one individual, such as a broker, and owned to another individual, such as a seller, to pay a loss incurred by a third person, such as a buyer.
a) A hold harmless arrangement
b) A good-faith settlement
c) Indemnity
d) Proportional liability
The prevailing party, determined when the court enters its final judgment in the case, is the individual who:
a) receives the greater money damages award.
b) receives the requested equitable relief.
c) successfully defends against the plaintiff's claim and the plaintiff obtains no relief.
d) any of the above
The limited liability protection for the members of an LLC is the same as for:
a) a nonpublic partnership.
b) the shareholders in a corporation.
c) a general partnership.
d) a limited partnership.
Although title to an income-producing property held by co-owners for profit is vested in the names of all the co-owners, each co-owner actually holds title as a(n) _______ on behalf of all the tenant in-common co-owners, collectively called a(n) ________.
a) tenant-in-common; partnership
b) sole owner; trust
c) trustee; partnership (NEED MORE EXPLANATION?? PLEASE ASK?)
d) partnership; tenancy in partnership
A(n) _________ is any corporation or bank which is authorized to engage in the activities of a trust business.
a) trust business
b) foreign corportation
c) trust company
d) Massachusetts trust
For a written declaration to express an intent to transmute property from a community asset to a separate asset of one spouse, the declaration signed must:
a) contain an explicit statement confirming the spouse conveys and terminates the community property interest held in the property.
b) include the word "transmutation."
c) include consideration.
d) both b and c
what is transmutation?? first
________ cover losses incurred due to violations of conditions, covenants and restrictions (CC&Rs), damage from extraction of water or minerals, mechanic's liens, encroachments and the effects of inflation.
a) Exclusions
b) Endorsements
c) Written commitment to issue
d) Plain language policies
Which of the following is considered a voidable deed:
a) a deed signed and delivered by a seller under the age of 18.
b) a deed materially altered without the grantor's consent.
c) a forged deed. (DURESS, UNDUE INFLUENCE FRAUD FORGERY MENACE ...)
d) a deed from a grantor of unsound mind, but not entirely without understanding, made before the grantor's incompetency to convey has been adjudicated. (OTHER IS VOID)
A grant deed given to provide a creditor with the property as security or collateral is a(n):
a) mortgage-in-fact. (WHAOO....LIKE ATTORNEY IN FACT / FINDING OF FACT )
b) disguised lien.
c) invalid security device.
d) constructive delivery.
A personal restrictive covenant is enforceable only against the persons agreeing to it, not future owners of the property, called:
a) remote grantees. (ONLY PERSONAL TO THIS AND NOT FUTURE)
b) successors.
c) material grantees.
d) harmless successors.
Ownership of possessory interests in real estate include:
a) a life estate
b) an easement
c) a license
d) both a and b
___________ is based on an interference with possession since it affects the real estate. A(n) ______ is an interference with the enjoyment of property since it affects the senses.
a) Nuisance; easement
b) Trespass; nuisance (SO GOOD TO KNOW)
c) Trespass; encroachment
d) Nuisance; trespass
A(n) ___________ is any activity specifically declared by statute to be a nuisance.
a) statutorily immune annoyance
b) nuisance per se
c) both a and b
d) neither a nor b
_________ determines the physical location of the court which has jurisdiction and is the correct forum to hear the matter.
a) Venue
b) Jurisdiction
c) An equitable remedy
d) Both a and c
The federal government has the right to regulate all commercial enterprises which affect:
a) California commerce.
b) the real estate industry.
c) interstate commerce.
d) Arizona commerce.
Under the common law, legal disputes were decided ________ before a judge.
a) by establishing elaborate statutes to address the issue
b) on a case-by-case basis
c) by a sheriff
d) none of the above
Legally, oil and gas are referred to as being ________, since they are transitory.
a) an incorporeal hereditament
b) a profit a prendre
c) fugacious matter
d) a right of appropriation
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