Rockwell Exam Real Estate Classes WA Final Exam 1 Questions and 100% Correct Answers With, Exams of Real Estate Management

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A buyer purchases a rental home that is fully furnished. The document used to transfer title to the furniture is: a. quitclaim deed b. bill of sale c. special warranty deed d. general warranty deed - Correct Answer b. bill of sale Deeds transfer title to real estate, a bill of sale is generally needed to transfer title to personal property. Ben receives a life estate in a property, with his nephew Will designated as the remainderman. When Ben dies, what kind of interest does Will receive? A. Fee Simple Estate B. Life Estate C. Remainder Interest D. Reversionary Interest - Correct Answer A. Fee Simple Estate The interest that passes to a designated person upon the death of a life tenant (or other measuring life) is a fee simple estate. Will has a remainder interest only up until the moment Ben dies. Once Ben is dead, Will's interest immediately becomes a fee simple interest. A buyer accepts a general warranty deed from a seller, believing that the seller is the sole owner of the property. The buyer later finds out that the seller is only a co-owner. Has a covenant in the general warranty deed been violated? A. No, the only covenant in a general warranty deed promises that the previous owner didn't encumber the property