Wisconsin Real Estate License Wisconsin Real Estate License Property Ownership and Transfer Questions and Answers 2 — Questions and Answers
Question 1: Under Wisconsin law, which type of deed provides the greatest protection to the buyer?
- Quitclaim deed
- Bargain and sale deed
- General warranty deed (Correct answer)
- Special warranty deed
Correct answer: General warranty deed
A general warranty deed guarantees the title against all defects, even those arising before the grantor owned the property, offering the highest level of buyer protection.
Question 2: In Wisconsin, what is the primary purpose of recording a deed with the Register of Deeds?
- To transfer legal ownership
- To provide constructive notice to the public (Correct answer)
- To satisfy the statute of frauds
- To create a valid contract
Correct answer: To provide constructive notice to the public
Recording a deed provides constructive notice to the world that a transfer of ownership has occurred, protecting the grantee against subsequent claims.
Question 3: Which of the following best describes tenancy by the entirety in Wisconsin?
- Ownership by two or more unrelated individuals
- Ownership by a married couple with right of survivorship (Correct answer)
- Ownership by a business partnership
- Ownership held in a living trust
Correct answer: Ownership by a married couple with right of survivorship
Tenancy by the entirety is a form of co-ownership available only to married couples in Wisconsin, featuring an automatic right of survivorship.
Question 4: A Wisconsin property owner dies without a will and has no surviving spouse or children. Under intestate succession, who inherits the real property?
- The state of Wisconsin immediately
- The owner's parents, if living (Correct answer)
- The county where the property is located
- The owner's nearest business partner
Correct answer: The owner's parents, if living
Under Wisconsin's intestate succession statutes, if there is no surviving spouse or descendants, the decedent's parents inherit the estate.
Question 5: What is the statute of limitations for adverse possession claims in Wisconsin?
- 5 years
- 10 years
- 20 years (Correct answer)
- 30 years
Correct answer: 20 years
Wisconsin requires continuous, open, notorious, hostile, and exclusive possession for 20 years to establish an adverse possession claim.
Question 6: Which document is used in Wisconsin to transfer real property ownership at a tax foreclosure sale?
- Sheriff's deed
- Tax deed (Correct answer)
- Trustee's deed
- Executor's deed
Correct answer: Tax deed
A tax deed is issued by the county to convey property acquired through tax foreclosure proceedings in Wisconsin.
Wisconsin Real Estate License Wisconsin Real Estate License Property Ownership and Transfer Questions and Answers 2
Under Wisconsin law, which type of deed provides the greatest protection to the buyer?