Chap 49 Real Property

Question 1

the sale of land

Answer 1

is a two step process. the first step is the formation and signing of a contract of sale and the second step is the preparation and execution of a deed

Question 2

types of deeds

Answer 2

general warranty
limited warrant
quit claim

Question 3

general warranty deed

Answer 3

warrants that the grantor, as well as all predecessors in title, have done nothing to adversely affect title to the property

Question 4

typical warranties in a general warranty deed are

Answer 4

warranty of title
warranty of quiet enjoyment
warranty against encumbrances

Question 5

warranty of title

Answer 5

grantor warrants that he has good title to the property i.e. he is well seized of the property

Question 6

warranty of quiet enjoyment

Answer 6

grantor warrants that no one will disturb the grantees right to quietly enjoy the property (i.e. no one besides the grantor will claim to have a right to possession of the property or disturb the grantees right of possession of the property

Question 7

warranty against encumbrances

Answer 7

grantor warrants that there are no easements, restrictions, liens, etc on the property unless otherwise excepted

Question 8

limited warranty deed

Answer 8

grantor only warrants that he did nothing to adversely affect the title of the property

Question 9

quit claim deed

Answer 9

grantor makes no warranties and only conveys such title as he may have (which in fact may be none). often used when making a gift of real property, or in divorce actions where the property is being conveyed to one of the parties pursuant to a divorce decree

Question 10

formalities of a deed

Answer 10

must be in writing
must be signed by the grantor
must be witnessed by two witnesses in most states
grantors signature must be notarized
for best protection must be recorded