FREE Wisconsin Real Estate License Property Ownership and Transfer Questions and Answers Flashcards
6 cards from real Wisconsin Real Estate License practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 FREE Wisconsin Real Estate License Property Ownership and Transfer Questions and Answers flashcards as text
Which type of co-ownership in Wisconsin does NOT include the right of survivorship by default?
Answer: Tenancy in common
Tenancy in common does not include a right of survivorship, so a deceased tenant's share passes through their estate.
In Wisconsin, an easement that benefits a particular parcel of land is classified as what?
Answer: Easement appurtenant
An easement appurtenant is attached to and benefits a specific parcel of land, transferring automatically with ownership.
Under Wisconsin's transfer by death deed statute, when does the transfer become effective?
Answer: Upon the death of the owner
A transfer on death deed in Wisconsin becomes effective only upon the death of the owner and is revocable until that time.
Which of the following would cause a property transfer to be considered an involuntary alienation in Wisconsin?
Answer: Foreclosure sale by the lender
Foreclosure is an involuntary alienation because the property is transferred against the owner's wishes to satisfy a debt.
What distinguishes a general warranty deed from a special warranty deed in Wisconsin?
Answer: A general warranty deed warrants title against all defects, past and present
A general warranty deed warrants title against all defects arising at any time, while a special warranty deed only covers the grantor's period of ownership.
In Wisconsin, which document is used to remove a cloud on title caused by a paid-off mortgage?
Answer: Satisfaction of mortgage
A satisfaction of mortgage is recorded to publicly show that the mortgage debt has been fully paid and the lien is released.