Unit 9 Exam Questions and
Answers
1. Understanding Title and Transfer Correct Answer: The word "title" used in a real estate
context is very ditterent from that of a car title. There is no one piece of paper which is a title the way a
car title is used for the sale of an automobile. Instead the word "Title" refers to the collection of rights that
a person has in the ownership of real property.
Transfer of ownership (of title) is done by deed or operation of law. It is done voluntarily or involuntarily.
When the deed is issued and all parts of it are properly executed, the new owner will have the same
rights as the previous owner to the property.
Alienation Correct Answer: means transfer when used as a real estate term.
Voluntary alienation means the grantor (owner of the property) had a choice and made the decision to
transfer his property to someone else.
Involuntary alienation Correct Answer: means the grantor (owner of the property) did not have a choice;
that the law determined that the property would be transferred as in eminent domain or other
government interferences.
Eminent domain means the taking of private property for public good, such as the taking of a home so a
new highway could be built. Eminent domain will be discussed in more detail later in the course.
2. Voluntary Alienation Correct Answer: There are two ways to voluntarily transfer real property,
by deed or by will.
A grantor transfers his property by deed when the property is sold or when the grantor wishes to give a
gift of property to another. The quality of the ownership will depend on the quality of the deed, which
will be discussed shortly. In order for a deed to be valid, the transfer must occur during the grantor's
lifetime. If the transfer occurs after the death of the grantor, the transfer is made by will.
A grantor conveys (transfers) his property to another through a will. The person making the will is called
the testator and the person receiving the property is called the devisee. Real property given in a will is a
,Unit 9 Exam Questions and
Answers
devise and personal property in a will is a bequest. The person receiving the bequest is a beneficiary.
Here are the players Correct Answer:
* Grantor gives to the Grantee a Deed
,Unit 9 Exam Questions and
Answers
Testator makes a will
Devisor gives to a Devisee a Devise
Testator gives to a Beneficiary a Bequest.
3. Essential Elements of a Valid Will Correct Answer: A will is a written instrument
(paper) that describes how the testator (will maker) wishes to have his world goods- real and
personal property disbursed. It is considered by the court to be the testator's final wishes for
distribution.
If a person dies with a will he/she dies "Testate".
If a person dies without a will he/she dies
"Intestate". The maker of a will is a testator.
Essentials of a Valid Will
In order for a will to be valid, certain items must be in place Correct Answer:
The testator must be of legal age. (18 or
older) The testator must be of sound
mind.
The will must have the proper wording.
There can be no undue influence, menace or duress from others on the
testator. There must be the correct number of witnesses as determined
by the state.
A holographic will is a will that is written, dated and signed in the testator's own handwriting but not
witnessed.
Probate means Correct Answer: a formal court hearing to establish the validity of a will after the death of
,Unit 9 Exam Questions and
Answers
the individual. This is usually a lengthy and sometimes costly procedure. Having a will does not avoid
probate, but it does establish the person or persons to whom the testator wishes to leave his/her
property.
4. Transfer by Involuntary Alienation Correct Answer: There are four ways that property is
transferred by involuntary
alienation. These are
Foreclosure
Answers
1. Understanding Title and Transfer Correct Answer: The word "title" used in a real estate
context is very ditterent from that of a car title. There is no one piece of paper which is a title the way a
car title is used for the sale of an automobile. Instead the word "Title" refers to the collection of rights that
a person has in the ownership of real property.
Transfer of ownership (of title) is done by deed or operation of law. It is done voluntarily or involuntarily.
When the deed is issued and all parts of it are properly executed, the new owner will have the same
rights as the previous owner to the property.
Alienation Correct Answer: means transfer when used as a real estate term.
Voluntary alienation means the grantor (owner of the property) had a choice and made the decision to
transfer his property to someone else.
Involuntary alienation Correct Answer: means the grantor (owner of the property) did not have a choice;
that the law determined that the property would be transferred as in eminent domain or other
government interferences.
Eminent domain means the taking of private property for public good, such as the taking of a home so a
new highway could be built. Eminent domain will be discussed in more detail later in the course.
2. Voluntary Alienation Correct Answer: There are two ways to voluntarily transfer real property,
by deed or by will.
A grantor transfers his property by deed when the property is sold or when the grantor wishes to give a
gift of property to another. The quality of the ownership will depend on the quality of the deed, which
will be discussed shortly. In order for a deed to be valid, the transfer must occur during the grantor's
lifetime. If the transfer occurs after the death of the grantor, the transfer is made by will.
A grantor conveys (transfers) his property to another through a will. The person making the will is called
the testator and the person receiving the property is called the devisee. Real property given in a will is a
,Unit 9 Exam Questions and
Answers
devise and personal property in a will is a bequest. The person receiving the bequest is a beneficiary.
Here are the players Correct Answer:
* Grantor gives to the Grantee a Deed
,Unit 9 Exam Questions and
Answers
Testator makes a will
Devisor gives to a Devisee a Devise
Testator gives to a Beneficiary a Bequest.
3. Essential Elements of a Valid Will Correct Answer: A will is a written instrument
(paper) that describes how the testator (will maker) wishes to have his world goods- real and
personal property disbursed. It is considered by the court to be the testator's final wishes for
distribution.
If a person dies with a will he/she dies "Testate".
If a person dies without a will he/she dies
"Intestate". The maker of a will is a testator.
Essentials of a Valid Will
In order for a will to be valid, certain items must be in place Correct Answer:
The testator must be of legal age. (18 or
older) The testator must be of sound
mind.
The will must have the proper wording.
There can be no undue influence, menace or duress from others on the
testator. There must be the correct number of witnesses as determined
by the state.
A holographic will is a will that is written, dated and signed in the testator's own handwriting but not
witnessed.
Probate means Correct Answer: a formal court hearing to establish the validity of a will after the death of
,Unit 9 Exam Questions and
Answers
the individual. This is usually a lengthy and sometimes costly procedure. Having a will does not avoid
probate, but it does establish the person or persons to whom the testator wishes to leave his/her
property.
4. Transfer by Involuntary Alienation Correct Answer: There are four ways that property is
transferred by involuntary
alienation. These are
Foreclosure
