Chapter 10

Question 1

legal term used for transferring title to real estate

Answer 1

Alienation

Question 2

Transferring title to real estate by the will and consent of the owner

Answer 2

Voluntary alienation

Question 3

Transferring title to real estate without the will and consent of the owner

Answer 3

involuntary alienation

Question 4

person dies leaving a will

Answer 4

testate

Question 5

person who makes the will

Answer 5

Testator(male) Testatrix (female)

Question 6

Disposition of real property under a will

Answer 6

Devise

Question 7

disposition of personal property under a will

Answer 7

bequest

Question 8

party receiving personal property by will

Answer 8

beneficiary

Question 9

party receiving real property by will

Answer 9

devisee

Question 10

the legal process of determining a will’s validity, paying the debts of the estate, and distributing the estate’s remaining assets

Answer 10

Probate

Question 11

person named in a will as a person to oversee the administration of a will’s provision

Answer 11

executor(male) executrix (female)

Question 12

a will created in the testator’s own handwriting and not witnessed

Answer 12

holographic will

Question 13

is an amendment or addition to a will

Answer 13

codicil

Question 14

a will created orally by a person who is near death

Answer 14

nuncupative

Question 15

Requirements of wills (6)

Answer 15

1) Legal age
2) sound mind
3) writing and signed
4) free will
5) Last will
6) Witnessed

Question 16

a person who dies without a will

Answer 16

intestate

Question 17

government powers to take private land for the public good through the process of condemnation

Answer 17

Eminent Domain

Question 18

when a person dies without a will and has no heirs, the property will pass to the state through the government power

Answer 18

Escheat

Question 19

A method of acquiring title to real property by using the property without the owner’s consent and following statutory requirement

Answer 19

Adverse possession

Question 20

Requirements of adverse possession: (4)

Answer 20

1) Use
2) Hostile
3) Open
4) Exclusive

Question 21

Acquiring additions to real estate as a result of adding a fixture or of accretion

Answer 21

Accession

Question 22

A tax on the transfer of real property that is assessed by state and local law. The seller in the real estate transaction is usually required to pay the tax

Answer 22

Transfer tax

Question 23

A written instrument that transfers title to real property from one owner (the grantor) to another (the grantee)

Answer 23

deed

Question 24

A type of deed that provides the greatest protection to the grantee because the grantor provides various covenants (guarantees) that the title being given is good.

Answer 24

General Warranty Deed

Question 25

A guarantee in a deed that the grantor has the power and authority to convey title.

Answer 25

Seisin (Seizin)

Question 26

Gives assurance that there are no encumbrances on the property except those stated in the deed

Answer 26

covenant against encumbrances

Question 27

A guarantee in a deed that the title being given is good against third parties

Answer 27

Quiet enjoyment

Question 28

A guarantee in a deed by which the grantor promises to perform any reasonable acts necessary to correct defects in the title being given

Answer 28

further assurance

Question 29

A guarantee given in a deed that gives assurance that the grantor will pay for expenses to defend the title against claims by third parties

Answer 29

Warranty Forever

Question 30

A deed that limits the guarantee given by the grantor to encumbrances acquired while title was held by the grantor

Answer 30

Special Warranty Deed

Question 31

A deed that may come with or without guarantees.

Answer 31

Bargain and Sale deed.

Question 32

A deed that conveys whatever interest, if any, is held by the grantor and does not provide the grantee with any guarantees

Answer 32

Quitclaim deed

Question 33

Grantors provide assurance only that there were no encumbrances on the property while they held title

Answer 33

Grant Deed

Question 34

The party who gives an ownership interest in property

Answer 34

Grantor

Question 35

The party receiving the property

Answer 35

Grantee

Question 36

States the grantor's intention to transfer title and the type of ownership interest conveyed.

Answer 36

Granting Clause (Words of conveyance)

Question 37

A clause in a deed that defines on limits the estate being granted

Answer 37

Habendum Clause

Question 38

A voluntary state before a notary of officer of the court by a person who signed a document that indicates that the signature is genuine and made by the signer's free will

Answer 38

Acknowledgment

Question 39

The time at which title to real estate passes, when a deed is delivered to and accepted by the grantee

Answer 39

Delivery and acceptance