CHAMPIONS PRINCIPLES OF REAL ESTATE 2

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CHAMPIONS PRINCIPLES OF REAL ESTATE 2

(TEXAS) 2025 QUESTIONS AND ANSWERS .

• You want this one. Purchase title insurance either by grantor or

grantee. Insured against loss resulting from defects of the title - correct answer - you want this one. Purchase title insurance either by grantor or grantee. Insured against loss resulting from defects of the title

• Types of changes in the ownership of the property - correct

answer - changes in property may be: involuntary or voluntary

• Voluntary Alienation - correct answer - transfer of title with the

grantor's consent

• The absence of force - correct answer - proves the conveyance

is voluntary

• Interstate Succession - correct answer - dying without a valid

will

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• Given by the grantor or grantee. Something of value given in

exchange for a conveyance. It can be money, personal property, ie $10 - correct answer - given by the grantor or grantee. Something of value given in exchange for a conveyance. It can be money, personal property, ie $10

• Covenant of Quiet Enjoyment - correct answer - grantor

promises the grantee interrupted use of the property

• Quitclaim Deed - correct answer - A deed with no guarantees

or warranties - it offers the buyer the least protection - can be used to correct or cure a defect or cloud on title

• Lispendens - correct answer - pending lawsuits affecting the

property

• Final rule mandates the use of 2 disclosures that help the

consumer in understanding the key features, costs and risk: 3

pages loan estimate & closing disclosure forms. - correct answer - final rule mandates the use of 2 disclosures that help

the consumer in understanding the key features, costs and risk:

• pages loan estimate & closing disclosure forms. 2 / 3

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• Closure Disclosure (CD) - correct answer - is always

compared to the loan estimate

• RESPA (Real Estate Settlement Procedures Act) - correct

answer - implements Consumer Federal Protection Bureau

• Interstate Land Sale Full disclosure Act - correct answer -

1968 Passed by congress to protect consumers from fraud in the sale or lease of land

• Consideration - correct answer - something of value.

Grantee gives to the grantor

• Reservation in a deed - correct answer - sell one part but

retain a piece

• Title commitment - correct answer - statement of title at a

moment of time

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