Unit 12: Transfer of Title

The basic requirements for a valid conveyance are governed by:

A) local custom.

B) state law.

C) national law.

D) the law of descent.

B) state law.

Every deed must be signed by the:

A) grantor.

B) grantee.

C) grantor and grantee.

D) devisee.

A) grantor.

A 15-year-old boy inherited many parcels of real estate from his late father and decided to sell one of the parcels. If the boy enters into a deed conveying his interest in the property to a purchaser, such a conveyance will be:

A) valid.

B) void.

C) voidable.

D) invalid.

C) voidable.

A husband who works for an international corporation has already moved out of the country. To authorize his wife to act on his behalf in his absence, he signed:

A) a release deed.

B) a quitclaim deed.

C) an acknowledgment.

D) a power of attorney.

D) a power of attorney.

What is the major difference between a general warranty deed and a quitclaim deed?

A) A general warranty deed provides the least protection for the buyer; a quitclaim deed provides the most protection for the buyer.

B) A general warranty deed provides the most protection for the buyer; a quitclaim deed provides the least protection for the buyer.

C) A general warranty deed can be used only in foreclosure sales; a quitclaim deed is used only in residential sales.

D) A general warranty deed creates an indefeasible title; a quitclaim deed creates a defeasible title.

B) A general warranty deed provides the most protection for the buyer; a quitclaim deed provides the least protection for the buyer.

Under the covenant of quiet enjoyment, the grantor:

A) promises to obtain and deliver any instrument needed to make the title good.

B) guarantees that if the title fails in the future, she will compensate the grantee.

C) guarantees that the title will be good against the title claims of third parties.

D) warrants that she is the owner and has the right to convey title to the property.

C) guarantees that the title will be good against the title claims of third parties.

Which of these types of deeds merely implies, but does not specifically warrant, that the grantor holds good title to the property?

A) Special warranty

B) Quitclaim

C) Trustee’s

D) Bargain and sale

D) Bargain and sale

Step 1: A man decided to convey his property to a woman. Step 2: The man signed a deed transferring title to the woman. Step 3: The man gave the signed deed to the woman, who accepted it. Step 4: The woman took the deed to the county recorder’s office and had it recorded. At which step did title to the property actually transfer or pass to the woman?

A) Step 1

B) Step 2

C) Step 3

D) Step 4

C) Step 3

A woman signed a deed transferring ownership of her property to a man. To provide evidence that the woman’s signature was genuine, she executed a declaration before a notary. This declaration is called an:

A) affidavit.

B) acknowledgment.

C) affirmation.

D) estoppel.

B) acknowledgment.

A woman bought acreage in a distant county, never went to see the acreage, and did not use the land. A man moved his mobile home onto the land, had a well drilled for water, and lived there for 22 years. The man may become the owner of the land if he has complied with the state law regarding:

A) requirements for a valid conveyance.

B) avulsion.

C) voluntary alienation.

D) adverse possession.

D) adverse possession.

What do the terms condemnation and escheat have in common?

A) They are examples of involuntary alienation.

B) They are examples of voluntary alienation.

C) They are processes used in adverse possession claims.

D) They are methods of transferring title by descent.

A) They are examples of involuntary alienation.

A deed contains a guarantee that the grantor will compensate the grantee for any loss resulting from the title’s failure in the future. This is an example of:

A) warranty forever.

B) further assurance.

C) quiet enjoyment.

D) seisin.

A) warranty forever.

Which of these documents transfers title to real estate after the death of the owner?

A) Warranty deed

B) Will

C) Special warranty deed

D) Trustee’s deed

B) Will

For Illinois courts to recognize a will, the will must:

A) be handwritten.

B) have no amendments.

C) be modified by codicil.

D) have two witnesses.

D) have two witnesses.

In Illinois, how many years are required to acquire title by adverse possession?

A) 5

B) 20

C) 7

D) 30

B) 20

Which of these statements is TRUE regarding the execution of a valid will in Illinois?

A) The testator must be at least 21 years old and of sound mind.

B) The will must be witnessed by three people.

C) The will must be in writing, signed, and witnessed by two people.

D) The will must be notarized.

C) The will must be in writing, signed, and witnessed by two people.

In Illinois, the state transfer tax is:

A) customarily paid by the buyer.

B) computed on the sales price less the amount of any existing mortgage to which the property remains subject.

C) not required if the actual total consideration is less than $500.

D) assessed at the rate of $1 per $1,000 of sales price.

B) computed on the sales price less the amount of any existing mortgage to which the property remains subject.

Which deed requires the Illinois transfer tax?

A) Deeds between relatives

B) A deed conveying a property owned by a charitable institution

C) A deed conveying a property owned by a government body

D) Deeds for property valued at less than $100

A) Deeds between relatives

In Illinois, when a person dies without a valid will and with no heirs, what happens to the property?

A) It is sold at auction

B) It escheats to the state

C) It escheats to the Illinois county it lies in

D) It is foreclosed

C) It escheats to the Illinois county it lies in

The gift of real property by will is called:

A) a devise.

B) a testate.

C) an implied estate.

D) a descent.

A) a devise.