Chapter 2 - Estates, Transfers, and Titles Flashcards
abandonment
the intentional and voluntary relinquishment of any ownership interest (such as an easement) or possession of real property
accession
the acquiring of additional property
actual notice
it is notice that is actually and expressly given or implied
adverse possession
a method of acquiring title to real property, through possession of the property for a statutory period under certain conditions, by a person other than the owner
affirmation, affidavit, verification
many different types of statements made before a professional witness
community property
property acquired by husband and/or wife during marriage that is not acquired as separate property.
constructive notice
documents filed with the county recorder in such a way as to be considered open notice to the world
corporation
a legal entity, sanctioned by the state, with rights and liabilities, distinct and apart from those of the person’s composing it
dedication
the giving of private land by it’s owner for a public use; most commonly, the developer who goes it to the city
delivery
the ACT of receiving a deed.
encroachment
an unlawful intrusion onto another onto another’s property by making improvements to real property (swimming pool built across property line)
escheat
the reverting of private property to the state when there are no valid heirs
fee simple defeasible estate
a fee estate that is subject to particular limitations imposed by the grantor of the estate
freehold estate
an estate of indeterminable duration (fee simple or life estate)
general and limited partnerships
a voluntary association between two or more people to carry on a business with general and limited partners
grant deed
a deed using the word “grant” or like words containing warranties against prior conveyances and encumbrances. this is the most commonly used deed in california
holographic will
a handwritten expression of a persons desires as to the disposition of his or her property after death
intestate succession
a process of law by which the state lays out the correct succession of inheritance when a person dies without leaving a valid will
joint tenancy
undivided ownership of a property interest by two or more persons, each of whom has a right to an equal share in the interest and a right of ownership
life estate
an estate or interest in real property that is held for the duration of the life of some certain person. it may be the person holding title to the estate or some other person.
notary public
a person authorized by the state to witness the signatures of persons executing documents, sign the certificate, and affix the official seal.
prescription
the means of acquiring interest in land, usually an easement, by continued use.
probate
the court procedure of proving that a will is valid
quitclaim deed
a deed to relinquish any interest in property that the grantor may have, without any warranty of title or interest.
recording
placing a document in the official records of the county
remainder
an estate that is transferred to a third party (anyone other than the grantor) upon death of the life estate holder
reversion
an estate that reverts back to the grantor after the life of the tenant expires
severalty
an estate of single entity held by a single person alone
tenancy in common
co ownership of property by two or more persons who hold undivided interest, without right of survivorship. the interest need not be equal.
witnessed will
a formal expression of a persons desires, witnessed by others, as to the disposition of his or her property after death
