(Ch. 12) Vocab (Deeds) Flashcards
A deed given by a administrator
Administrator’s Deed
The right of an owner or tenant legally in the possession to the use of property without interference from the landlord, or grantor, or anyone claiming through him
Quiet Enjoyment
An instrument in writing, duly executed and delivered by the grantor, that conveys to the grantee some right, title or interest in or to real estate
Deed
The transferring of real property from one person to another
Alienation
Deed given by borrower to trustee to be held pending fulfillment of an obligation
Deed of Trust
A deed containing no warranties or covenants, which relinquishes any interest, title or claim in property the grantor may have, if any.
Quitclaim Deed
A deed used to convey title to real property, which may or may not include warranties; if any, they are generally limited to assertion by the grantor that he has possession of the property.
Bargain And Sale Deed
The act by which the deed takes effect and passes title.
Delivery and Acceptance
A transfer tax that must be paid by the seller upon passing of title
Realty Transfer Fee
A deed which supports a conveyance of property, but does not carry with it all of the warranties found in a warranty deed
Bargain And Sale Deed W/C/A/G
A deed provision that withholds some right or interest that otherwise would pass with the deed. For example, a grantor may wish to withhold from the deed sub-surface rights.
Exception
Any conditions revealed by a title search which may affect or impair the owner’s title to property because of their apparent or probable validity.
Cloud on Title
A right retained by grantor in conveying property
Reservation
The one considered to offer the purchaser of real estate the greatest protection of any deed. Guarantees the title against defects existing before the grantor acquired title or arising during the grantor’s period of ownership
Full Covenant and Warranty Deed
Possession of real property by one entitled thereto; a warranty that at the time of delivery of a deed the grantor actually has the right capacity to convey good legal title; also “seized”
Seisin
The transfer of the title of the land from one to another; an instrument which carries from one person to another an interest in land.
Conveyance
The purchaser; the person to whom an interest in realty is conveyed by deed
Grantee
A deed in which the grantor warrants title only against defects occurring during the grantor’s ownership
Special Warranty Deed
A deed used to cover a prior erroneous deed; indeed of confirmation; a reformation deed
Correction Deed
The seller; the person who conveys an interest in realty by deed
Grantor
written promise by a company that, if you find a fault in something they have sold you within a certain time, they will repair it or replace it free of charge
Warranties
An agreement written into deeds and other instruments which promises or guarantees that something shall or shall not be done; an agreement stipulating certain use or non use of property
Covenant
A deed in which the grantor fully warrants a good clear title to the property; a deed that contains covenants of title
Warranty Deed
The portion of a deed beginning “to have and to hold” which usually follows the granting clause and explains or limits the estate granted
Habendum Clause