CH3 Definitions Ownership Transfer, And Description Of Real Property And Accompanying Rights Flashcards
Compilation of all title owners
Chain of title/record
exclusive land grant made by a sovereign entity with respect to a particular tract of land. Land title acquired from the controlling government in the form of a quitclaim deed.
Patent
Delivery of possession through a ceremony like livery of seisin
Feoffment
Conveyance of reality whereby title to or an interest in real property is transferred from one party to another.
Deed
Previous to the execution of conveyance, the grantor had not conveyed the same estate to another, and that the estate is free of encumbrances
Grant deed
A release, the grantor merely passes to the grantee whatever title, right or interest he or she may have had at the moment of signing the conveyance
Quitclaim deed
The grantor assures the grantee that he or she has good title and can be held liable for deficiencies that are not declared.
Warranty deed
Grants to another the right of a particular use of a property
Easement deed
Charge, security, or encumbrance on a property to secure a debt
Lien
Legal title + Equitable Title
Perfect Title
First party deeds the land to a trustee, who holds the deed in trust for the third party under the condition that the third perform their obligations.
Deed of Trust
contractual arrangement in which a third party receives and disburses documents for the primary transacting parties, with the disbursement dependent on conditions agreed to by the transacting parties.
Escrow
A collection and chronological summary of any instruments or documents of record affecting rights in a property.
Abstract
Any position or element from which angular measurements are determined.
Reference datum
Special boundary lines that may be created by people or by nature and identified by elevation.
Contour boundaries
Datum determined at a given location by the average of the hourly tide readings over an 18.6 year period.
Mean sea level datum
Limited land adjustment act for the relief of persons who had built improvements on National Forest System land because of title error in a survey by private or government survey.
Small Tracts Act
Relief to landowners who were adjacent to lands under the administration of the secretary of agriculture. If the lands (other than lands obtained by exchange) are lacking in title or color of title, they can be reconveyed.
Public Law 120
Laws enacted by state legislatures
Statutes
Beginning of description
Point of commencement
Beginning point of a parcel description in metes and bounds
Point of beginning
Lines run with the anticipation of becoming a newly created boundary
Provisional line
Monument referred to in a conveyance description and is often interpreted to mean a call for an adjoined or abuttal property
Record monument or legal monument
The angle measured clockwise from the meridian (north or south line) to the line being described.
Azimuth
Monument referred to in a conveyance description and is often interpreted to mean a call for an adjoined or abuttal property
Record monument or legal monument