Conveyancing Trivia Quiz

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Conveyancing in law is the transfer of legal title of real property from an individual to another. It can also be referred to as the granting of an encumbrance such as a mortgage or alien. Sales of land are governed by the laws and practices of the jurisdiction in which the land is located. The legal requirement in all jurisdictions is that contracts for the sale of land must be in writing.

Questions and Answers

1.

In an exchange of contract, how many copies of a contract of sale is expected to be signed?
- A.
  
  2
- B.
  
  3
- C.
  
  4
- D.
  
  1
Correct Answer
A. 2
2.

Can contracts be exchanged by mail?
- A.
  
  No, it's not acceptable
- B.
  
  It depends on the distance between the two parties
- C.
  
  Yes, it's allowed
- D.
  
  It depends on other factors like signature
Correct Answer
C. Yes, it's allowed
3.

When is the contract said to be complete and binding?
- A.
  
  Immediately the signatures are attached
- B.
  
  As soon as both parties agree
- C.
  
  After the contract has been sent to the other party
- D.
  
  Immediately both parties receive their copies of the contract signed by other party
Correct Answer
D. Immediately both parties receive their copies of the contract signed by other party
4.

Generally, an exchange by electronic means is best described by which of the following?
- A.
  
  Allowed
- B.
  
  Insufficient
- C.
  
  Advisable
- D.
  
  Totally prohibited
Correct Answer
B. Insufficient
5.

Which of the following is the most important duty of the buyer?
- A.
  
  To sign the contract
- B.
  
  To ensure that the seller has the right to sell
- C.
  
  To pay the amount stipulated
- D.
  
  To comply by all laws as must the seller
Correct Answer
B. To ensure that the seller has the right to sell
6.

Conveyancing in England and Wales is mostly done by who?
- A.
  
  Broker
- B.
  
  Solicitor
- C.
  
  Expert
- D.
  
  Agent
Correct Answer
B. Solicitor
7.

What is the disadvantage of carrying out conveyancing by yourself?
- A.
  
  The necessary stamps would not be easily gotten
- B.
  
  It takes more time for approval
- C.
  
  It is labour intensive
- D.
  
  It goes under more scrutiny
Correct Answer
C. It is labour intensive
8.

Must conveyancing be carried out by a local solicitor?
- A.
  
  Yes
- B.
  
  No
- C.
  
  It depends
- D.
  
  If the law says so
Correct Answer
B. No
9.

Which of the following is expected to carry out searches, and pre-contract inquiries?
- A.
  
  Solicitor
- B.
  
  Broker
- C.
  
  Agent
- D.
  
  Buyer
Correct Answer
A. Solicitor
10.

On average, it takes how long for the conveyancing transaction to be completed?
- A.
  
  10-12 weeks
- B.
  
  A month
- C.
  
  15 weeks
- D.
  
  9-15 weeks
Correct Answer
A. 10-12 weeks