Module 5 · 8% of exam
Transfer of Property
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California DRE Salesperson Exam

Transfer of Property

This module covers 8% of the California DRE Salesperson exam, about 12 questions. Master deeds, title, escrow, foreclosure, and the legal mechanics of how property changes hands.

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Transfer of Property
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Key concepts
Grant deed vs. quitclaim deed
Grant deed: two implied warranties: the grantor has not previously conveyed title and there are no undisclosed encumbrances. Quitclaim: conveys whatever interest the grantor has, no warranties.
Actual vs. constructive notice
Actual notice: direct knowledge. Constructive notice: knowledge the law presumes from recording or visible possession. Recording protects against subsequent purchasers.
Adverse possession in California
5 years of continuous, open, hostile, actual, exclusive possession plus payment of property taxes. Successful claim transfers title by operation of law.
Escrow and closing
Neutral third party holds funds and documents until all conditions are met. Proration splits ongoing expenses (taxes, rent, HOA) between buyer and seller at close of escrow.
CLTA vs. ALTA title insurance
CLTA (standard): protects against recorded defects. ALTA (extended): also covers unrecorded defects like survey errors and mechanic's liens. Lenders require ALTA.
Foreclosure types
Non-judicial (trustee's sale): faster, no court, used with deeds of trust. Judicial: court-supervised, used with mortgages, allows deficiency judgment.
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Module 5 · Transfer of Property

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