1) Kellie bought a lot and received the deed at closing, but did not record the deed. The seller discovered this and sold the lot to Paul, who did record the deed. Paul is now the lawful owner of the lot according to which law/statue? a) Statue of Frauds b) Statute of Limitations c) NC Marketable Title Act d) NC Connor Act 2) Which of the following is an example of involuntary alienation? a) Sale of home due to job transfer b) Passing of ownership through a will c) Condemnation of land located by the highway d) All of the above. 3) A home sells for $819,225. What amount of excise tax will be charged and to who? a) $1638.45 charged to the buyer b) $1638.45 charged to the seller c) $1639 charged to buyer d) $1639 charged to seller 4) Amy executes a deed of her primary residence to Aiden. Amy keeps the deed in her safe-deposit box. Upon her death, the box is opened and attached to the deed is a note to give the deed to Aiden. Who has title to the home? a) Aiden b) Amy' heir's c) The state d) Aiden's Heirs 5) Which of the following is(are) important factor(s) in determining whether something is a fixture? a) The method of the attachment b) The intention of the party who attached it c) Who owns the item d) all of the above 6) The annual tax bill of a property is $1800. The assessed value is $110,000. What is the tax rate? a) $1.308 b) $1.395 c) $1.449 d) $1.636 7) K owns a lot that measures 300' X 200' and purchases the second lot that adjoins the property on the same street and has a depth of 500' and measures 200,000 square feet. How may front feed does K own? a) 300 b) 500 c) 700 d) 800

Quiz 1-6 plus 20

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