Nv Base Forward Procedure Q2 2010

Explanation
A valid base refers to a complete and thorough search of all possible options or alternatives. In the context of the given question, "Full search" is the correct answer because it implies conducting a comprehensive search without omitting any potential options. The other options, such as "Half search," "Fourth search," and "No search," do not convey the idea of a complete search and are therefore not valid bases. "None of the above" is also not a valid base as it does not provide any specific method or approach for conducting the search.

Explanation
The given answer is "No" because the base contains exceptions that may affect the title. It states that any easements, covenants, conditions, and restrictions that are of public record and may appear in the public record should be considered. Therefore, using this base would not be advisable as it may have potential issues or restrictions on the title.

Explanation
Yes, if you have a comparable base for a condominium property, you can use it as a base. This means that if you have a similar property with similar characteristics and value, you can use it as a reference point for determining the value of the condominium property in question. Comparables are commonly used in real estate valuation to estimate the market value of a property by comparing it to similar properties that have recently sold.

Explanation
The statement is suggesting that Trustee's Sale Guarantee Bases should never be used as a base. However, the correct answer is False, implying that Trustee's Sale Guarantee Bases can be used as a base.

Explanation
The statement is false because the use of a Lender's Policy is not preferred over the use of an Owner's Policy if both were completed simultaneously. In fact, the opposite is true. An Owner's Policy provides coverage for the homeowner, while a Lender's Policy only protects the lender's interest in the property. Therefore, it is generally recommended for homeowners to obtain an Owner's Policy to ensure they have comprehensive coverage.

Explanation
The given answer is "False" but without any context or specific question, it is not possible to provide an accurate explanation for why the answer is false. More information is needed to provide a meaningful explanation.

Explanation
The given statement is true because when conducting searches on Deeds of Trust, Financing Statements, Mechanic's Liens, Leases, and Offsite Improvement Agreements, it is necessary to include all of them as exceptions. By including these documents as exceptions, any potential issues or encumbrances related to these agreements can be identified and addressed during the search process. Therefore, it is important to search for these documents and consider them as exceptions when conducting searches.

Explanation
The correct answer is true because the question states that "You must specifically address the issue of access in every file" and refers to the Parcel 2 easement procedure. This implies that in every file related to Parcel 2, the issue of access must be specifically addressed. Therefore, it is true that the issue of access must be addressed in every file according to the Parcel 2 easement procedure.

Explanation
The given statement is false. It is necessary to review the requirements for the transaction code in order to ensure that it meets the necessary criteria and performs the desired functions. Neglecting to review the requirements may result in errors or inefficiencies in the code, leading to potential issues or failures in the transaction process. Therefore, it is important to thoroughly review the requirements before implementing a transaction code.

Explanation
The explanation for the given correct answer is that if the vesting shown on the direct base is current and covers 100% interest, and it has been proofed for errors, then it can be used. This implies that the vesting information is reliable and accurate, making the statement true.

Explanation
The statement is false because vesting deeds do need to be scanned in the doc repo. Vesting deeds are legal documents that establish ownership of a property, and it is important to have them stored and accessible in the document repository for reference and verification purposes.

Explanation
The statement suggests that any exceptions related to "temporary" easements should not be considered to determine if the time frame has expired; instead, they should be carried forward. Therefore, the correct answer is False, indicating that exceptions related to temporary easements should not be ignored when determining if the time frame has expired.

Explanation
The statement suggests that all CCR's (presumably referring to Chain Change Requests) should be examined in the chain before and after the base. This implies that when making changes to a chain, it is necessary to consider the impact of all CCRs that come before and after the base. Therefore, the answer "True" indicates that it is indeed necessary to look at all CCRs in the chain prior to the base and after.

Explanation
This statement is false because it is not possible to show all survey matters on a Foreign Base or a First American Base. The statement implies that all survey matters can be displayed on either a foreign base or a first American base, but this is not feasible as survey matters can vary in terms of location, jurisdiction, and other factors. Therefore, it is incorrect to claim that all survey matters can be shown on these specific bases.

Explanation
The explanation for the given correct answer is that the Vesting Deed should be reviewed to find the disclosure of schedule B items. The schedule B items should then be shown using the recording information provided in the Vesting Deed. This implies that the statement is true.