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The time for conveyance of a deed is called the:


A) zoning meeting.
B) closing.
C) title search.
D) recordation.

E) B) and C)
F) B) and D)

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The right of redemption would require:


A) a court order.
B) assent of all parties.
C) payment of the entire debt with interest.
D) payment of past due installments.

E) A) and B)
F) A) and C)

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The doctrine declaring that the mortgagee's interest in the property is limited to the amount of the outstanding obligation is known as:


A) adverse possession.
B) the title theory.
C) the lien theory.
D) equity of redemption.

E) B) and D)
F) A) and B)

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Marian lives in a "notice-race" state.She buys Blackacre from Robin but fails to record her deed.Robin then sells Blackacre to John, who also forgets to record.If Marian realizes her mistake and then records the deed, who will own title to the land?


A) John, since he had no notice.
B) John, since he purchased in good faith.
C) Marian, because she was first to file.
D) Marian, because she bought the property first.

E) A) and B)
F) All of the above

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A variance may be granted to permit deviation from a zoning ordinance where the application of the ordinance to specific property would cause its owner particular hardship unique to the property.

A) True
B) False

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In order for a deed to be effective between the purchaser and the seller of real estate, the deed must:


A) be in writing and signed by both parties.
B) include the actual sale price.
C) be recorded pursuant to the state statute.
D) be delivered to the buyer by the seller with the intent to transfer title.

E) C) and D)
F) A) and B)

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The elements of adverse possession include:


A) open, constructive, and with permission of the true owner.
B) open, visible, under color of title, and with permission of the true owner.
C) secretive, invisible, hostile, and under claim of right.
D) continuous for the statutory period, open, actual, and adverse.

E) A) and B)
F) A) and C)

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Which of the following may transfer title to land?


A) Deed
B) Will, or by the law of descent upon the death of the owner
C) Open, continuous, and adverse possession by a nonowner for a statutorily prescribed period of years
D) All of these.

E) A) and C)
F) B) and C)

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Darren grants a quitclaim deed to some property to Floyd.Now Floyd has found that someone else has a life estate in the land.Darren has breached the warranty of title.

A) True
B) False

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Murphy and her child, who are both Caucasian, are seeking an apartment.Murphy is not married and never has been.Grant owns an apartment complex with 8 units ready to rent.Grant will not be violating any laws by his refusal to rent to Murphy and her child on the basis that Murphy is a single, unwed mother.

A) True
B) False

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A doctrine allowing a mortgagor who has defaulted to regain her property prior to its sale by paying the debt in full with interest is known as:


A) rehabilitation.
B) the covenant of quiet title.
C) foreclosure.
D) the right of redemption.

E) A) and D)
F) B) and C)

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A mortgagee cannot assign a mortgage without the consent of the mortgagor.

A) True
B) False

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The Mortgage Reform and Anti-Predatory Lending Act of 2010 modifies the Sarbanes-Oxley Act by making those who obtain mortgages more accountable for their actions.

A) True
B) False

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The power to convert private property to public use is known as:


A) allocation.
B) eminent domain.
C) after-acquired title.
D) enabling.

E) A) and B)
F) A) and C)

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A secured transaction consists of:


A) a debt or obligation to pay money.
B) the creditor's interest in specific property that secures performance of the obligation.
C) Both of these.
D) None of these.

E) All of the above
F) B) and D)

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What should the simplest agreement for the sale of land contain?


A) Names and addresses of the parties
B) Description of the property to be conveyed and the time for conveyance
C) Type of deed to be given, along with the price and manner of payment
D) All of these.

E) A) and B)
F) A) and C)

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Foreclosure is the mortgagee's right to sell the property to satisfy the debt.

A) True
B) False

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An uncommon but possible way to obtain title to property is by adverse possession.

A) True
B) False

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The Fair Housing Act prohibits discrimination based on race and color only.

A) True
B) False

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Most zoning ordinances provide that a nonconforming use may be terminated:


A) immediately.
B) after 6 months of the structure's future useful life.
C) when a nonconforming structure is destroyed or substantially damaged.
D) All of these.

E) A) and D)
F) C) and D)

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