Unit 1-22 review

  1. Indiana code does not require that deeds being recorded include
    Identification of liens
  2. In addition to supply and demand, the other critical component of and economic system is
    Price
  3. Office buildings differ by size and architecture, but do not include
    Low rise
    Mid rise
    Garden office
    Tall rise
    Tall rise
  4. Zoning and building codes fall under
    Local government
  5. Sometimes a contract does not accurately reflect the intentions of the parties because of some mechanical or clerical error in the document. When this happens a legal action called ___ is necessary to correct the contract
    Reformation
  6. Owners of properties abutting a navigable non-moving body of water enjoy ____, but do not own the water or land beneath the water
    Littoral rights of use
  7. Title insurance is issued to protect
    The buyer prior to closing date
  8. ___ means there is a claim against the title such as adverse possession
    Color of title
  9. And land contract is
    Contract where seller agrees to finance the sell of the property in installments
  10. This regulation addressed the disposal of solid and toxic wastes and measures for managing wastes
    Superfund act
  11. If you receive a quitclaim deed from someone who owns the property in fee simple, you will own ___
    The property in fee simple
  12. Which of the following is a legal principle that affect transfer of ownership to property by will
    Law of seisin
    Law of Citus
    Law of Domicile
    Law of Intestater
    Law on Domicile
  13. The components that define tenancy to not include ;choose 1
    How an interest in land is held
    The actual act of holding that interest
    The amount paid for that interest
    The period of time in which a tenant leases the property in return for consideration
    The amount paid for that interest
  14. Which is not a distinguishing characteristic of a life estate
    The owner enjoys full ownership rights during the estate period
    Holders of future interests hold only a revisionary interest
    The estate may be created by agreement between private parties
    The estate may be created by law under prescribed circumstances
    Holders of future interests hold only a revisionary interest
  15. which one is A factor that does not challenge a contracts validity
    Negligence
    Misrepresentation
    Fraud
    Material fact
    Material fact
Author
btknipe
ID
354387
Card Set
Unit 1-22 review
Description
Updated