Ch 9 Section 3 Alienation, Wills, and Deeds Flashcards
Alienation
Term referring to any type of transfer of ownership of real property
- can b accomplished voluntarily by a deed or will, or involuntarily by adverse possession or intestate succession.
May occur by means of deeds, wills, dedications, and public grants
Voluntary Alienation
Deed of conveyance
the most common method of acquiring title to real property and is a written instrument used to transfer title voluntary from one party to another
Will
a written instrument whereby an individual (testator) provides for the transfer of title to property to another after his ( the testators) death
Dedication
is the free transfer ( no compensation ) of privately owned land to a governing body with the stipulation that it be used for public purposes
Public grant
is a transfer of title from the government to an individual
Special deed
known as a patent deed is used for a public grant
Descent & distribution, adverse possession, unintentional dedication of land for public use, accession, estoppel, foreclosure, eminent domain, escheat are apart of what alienation
involuntary
Decent and Distribution
refers to the acquisition of an estate by inheritance when an heir succeeds to the property by operation of law
Adverse possession
The acquisition of title to real property owned by someone else by opens, notorious, hostile, and continuous possession for a statutory period of time
Unintentional dedication of land for public use
owners who allow public access to or though, their private property will erect barriers at regular intervals (such as once a year) just to evidence the fact that the public right to use the property is merely a license and not a right or interest in the property itself.
Title by accession
the acquisition of additional land and/or improvements under certain unusual circumstances.
The action of a stream or river takes soil from owners property
Erosion
soil from owners property and adds it to another’s property
accretion
Alluvion
- soil deposits
- rain moves soil down to another’s property, so first looses land and second property gains
Avulsion
the sudden removal of large amounts of soil by an act of nature such as an earthquake or mudslide
Title (deed) by estoppel
legal principle whereby a person may obtain title to real property over the apparent owner, because the apparent owner has failed to act in such a manner as to put everyone on notice as to his rights in the property.
Foreclosure
Due to unpaid debts (mortgage loans, property taxes and other liens) also results in the transfer of ownership of real property without the owner’s consent
Power of eminent domain
Permits governments and quasi-public corporations and utility companies to take private land for public use through a condemnation suit results in involuntary alienation of real property
Escheats
Considered a form of involuntary alienation
Testate succession
Indicating the existence of a valid will
Intestate succession
Vary from state to state, every state has passed as set of laws dealing with the descent and distribution of real and personal property belonging to those who die without will
Probate
Is the formal, legal process by which a court reviews the distribution of a deceased persons date.
Executor
A person named in the will who executes, or carries out the wishes of the testator, acting as his personal representative
Administrator
Person appointed b the court to carry out the terms of the will in the event there is no executor or oversee the distribution of assets of a person who dies intestate
Testator
Or maker (one who makes a will) must be of sound mind and of legal age
A gift of real property by will is known as
Devise
A person who receives property by will is a
Devisee
A gift of personal property by will is known as a
Bequest
Codicil
Modification of , or addition to, an already existing will
Holographic will
One that is written in the testators own handwriting, but is not witness or acknowledge
Nuncupative will is a ________ will
Oral
What does the most common form of voluntary alienation involve ?
Deeds
Deed
A written instrument whereby a property owner conveys tittle to another
What requirements create a valid legally enforceable deed?
- grantor
- grantee
- consideration
- words of conveyance
- legal description
-reservations, exceptions ,and restrictions - Signature of the grantor
- Delivery and acceptance (Torrens system only)
Grantor or grantors
Must be identified and must be of age and of sound mind.
Words of conveyance
Distinguish it from a mortgage instrument, such as “i hereby grant and convey….”
Legal description
Generally required although in the case of a condominium the postal address may be sufficient once the fall legal description is in the recorded declaration
Reservation
A right retained by the grantor
Exception
When the grantor retains fee title to a part of the land
Deed restriction
Imposed by the original developer
Acknowledgment
Declaration made before an authorized officer, usually a notary, by a person who is voluntarily signing a formal, written document
Covenants
Are warrants or unconditional promises contained in contracts
- found in leases, mortgages, contracts for deed, deeds, etc.
Frequently used covenants include:
- of seisin
- of quiet enjoyment
- against encumbrances
- of warranty forever
- of further assurances
- against grantors acts
Covenant of seisin
Is an assurance by the grantor to the grantee that the grantor has the estate of title in the quantity that the grantor claims to convey
Covenant of quiet enjoyment
Arises from the grantor’s assurance that the grantee shall enjoy possession of the property in piece and without disturbance by hostile claimants
Covenant against encumbrances
Grantors guarantee that there are no encumbrances against the property except those specifically disclosed
Covenant of warranty
Assures the grantee of possession and continuance of title transferred to the grantee, “the grantee will forever warrant the title to said premises…”
Covenant of further assurance
The grantors promise to do such further acts as might required in the future to guarantee or perfect the title of the grantee
Covenant against grantors acts
Used in special warranty deeds in which the grantor is a fiduciary such as an executor, trustee, or guardian.
Certain customary clauses in deed that have come to be required, they are the:
-Premise Clause
- Habendum Clause
- Testimonium Clause
Premises Clause or granting clause
Contains the words of conveyance, states the names of the parties involved, the extent of ownership, recites the consideration and legally describes the property
Habendum Clause
“To have and to hold clause”
That follows the granting clause and indicates the type of estate or interest the deed is conveying, such as fee simple estate, a life estate
Testimonium clause
The parties to these present have hereunto set their hands and seals … is the conclusion of a deed
Types of deed in common use today :
- General warranty
-Special warranty - Bargain and sale deed
- Quitclaim deed
- Correction deed
General warrant deed
Conveyance by which the grantor fully warrants, or guarantees, clear title to the real estate being sold
Special Warranty deed
Is a conveyance by which the grantor guarantees the title he is conveying only against defects arising during the tenure of his ownership guardianship and not against previous defects in title
Bargain and sale deed
Conveyance by which the grantor conveys property but does not agree to warrant or defend the title in any way
Quitclaim deed
Conveyance by which the grantor transfers and releases any interest he might have in the property
Correction Deed
Any type of deed used to correct a mistake in prior deed
Types of deed
- Deed of trust
- deed in trust
- guardians deed
- deed in foreclosure
- deed in partition
- Patent deed
Deed of trust / trust deed
Used to convey title to a third party trustee to be held as security for a debt
Deed in trust
Conveys real property to a trustee
Guardians deed
Is executed on behalf of a person who lacks legal capacity to convey title, such as a minor or any person judged incompetent by the courts
Deed in foreclosure
May also be called a referee’s deed ( when foreclose is undertaken by a private mortgagee) or a tax deed or sheriffs deed, when property is sold to pay taxes
Deed in partition
Is issued by a court when property is sold at a partition sale for the purpose of diving a joint tenancy or tenancy in common ownership
Patent deed
Is a deed used to convey title to real estate from the United States Government to an individual
