Wisconsin Real Estate License FREE Wisconsin Real Estate License Property Ownership and Transfer Questions and Answers 2

Question 1

Under Wisconsin law, which type of deed provides the LEAST protection to the buyer?

Accepted Answer

Quitclaim deed

Answer

General warranty deed

Answer

Special warranty deed

Answer

Bargain and sale deed

Question 2

Which of the following is required for a valid deed transfer in Wisconsin?

Accepted Answer

Delivery and acceptance of the deed

Answer

Recording at the Register of Deeds office

Answer

Consideration of at least one dollar

Answer

Notarization by two witnesses

Question 3

In Wisconsin, a life estate measured by the life of someone other than the life tenant is called what?

Accepted Answer

Life estate pur autre vie

Answer

Estate for years

Answer

Remainder estate

Answer

Fee simple determinable

Question 4

Which Wisconsin statute governs the formal requirements for transferring real property?

Accepted Answer

Statute of Frauds

Answer

Uniform Commercial Code

Answer

Wisconsin Fair Dealership Law

Answer

Wisconsin Consumer Act

Question 5

A married couple in Wisconsin who each own an undivided one-half interest with right of survivorship hold title as what?

Accepted Answer

Marital property (community property)

Answer

Tenants in common

Answer

Joint tenants

Answer

Tenants by the entirety

Question 6

What is the primary purpose of recording a deed with the Wisconsin Register of Deeds?

Accepted Answer

To provide constructive notice to the public of the ownership change

Answer

To make the transfer legally valid between buyer and seller

Answer

To satisfy federal tax reporting requirements

Answer

To activate the buyer's homestead exemption