CP Real Property Law Flashcards

In California, title to real property held by two unmarried co-owners with equal shares and a right of survivorship is called:

Answer: Joint tenancy

Joint tenancy in California conveys equal shares with a right of survivorship, meaning a deceased co-owner's share automatically passes to the surviving co-owner(s).

California's primary document used to transfer real property from a seller to a buyer is a:

Answer: Grant deed

A grant deed is the most common instrument for conveying real property in California; it implies covenants of title by the grantor.

Under California's homestead exemption, the primary purpose is to:

Answer: Protect a portion of a homeowner's equity from general creditors in forced sale

California's homestead exemption (CCP § 704.710 et seq.) protects a specified amount of a debtor's home equity from execution by unsecured creditors.

A deed of trust in California differs from a mortgage in that:

Answer: A deed of trust involves three parties (trustor, trustee, beneficiary) and allows non-judicial foreclosure

A California deed of trust involves a trustor (borrower), trustee, and beneficiary (lender), and permits non-judicial (trustee's sale) foreclosure under Civil Code § 2924.

Which California statute governs residential landlord-tenant relationships, including security deposit limits?

Answer: California Civil Code § 1940 et seq.

California Civil Code § 1940 et seq. governs residential tenancies, including security deposit limits (generally two months' rent for unfurnished units).

In California real estate transactions, escrow closes when:

Answer: The deed is recorded and funds are disbursed to the seller

Escrow closes in California when the grant deed is recorded and the escrow holder disburses the funds to the seller.