Chapter 21 - Estates, Transfers, and Titles

Question 1

The condensed history of a tile to a particular parcel of real estate, consisting of a summary of the original grand and all subsequent conveyances and encumbrances affecting the property and a certification by the abstracter that the history is complete and accurate.

Answer 1

abstract of title

Question 2

A formal declaration before notary public or other authorized public officer that authenticates signatures on a document for the purpose of recording.

Answer 2

acknowledgement

Question 3

Express information of fact; that which is known; direct knowledge.

Answer 3

actual notice

Question 4

The actual, visible, hostile, notorious, exclusive, and continuous possession of another’s land under a claim of title. Possession for a statutory period may be a means of acquiring title.

Answer 4

adverse possession

Question 5

A writing based on a lawyer’s reading of an abstract of title that specifies any title defects and names the legal titleholder as the lawyer interprets it; states whether a seller may convey good title.

Answer 5

attorney’s opinion of title

Question 6

A deed that carries with it no warranties against liens or other encumbrances but that does imply that the grantor has the right to convey title; a bargain and sales deed.

Answer 6

bargain and sale deed OR deed without warranty

Question 7

The succession of conveyances from some accepted starting point, whereby the present hold of real property derives the title.

Answer 7

chain of title

Question 8

A supplement or an addition to a will, executed with the same formalities as a will, that normally does not revoke the entire will.

Answer 8

codicil

Question 9

A statement of the terms and conditions on which a title insurance underwriter is willing to insure a title insurance policy.

Answer 9

title commitment

Question 10

Notice given to the world by recorded documents. Al people are charged with knowledge of such documents and their contents, whether or not they actually have examined then. Possession of property also is considered constructive notice that the person in possession has than interest in the property.

Answer 10

constructive notice

Question 11

A person who has died.

Answer 11

decedent

Question 12

A written instrument that, when executed and delivered, conveys title to or an interest in real estate.

Answer 12

deed

Question 13

A form of deed by which real state is conveyed to a trustee. Conveys property into a trust.

Answer 13

deed in trust

Question 14

A deed that carries with it no warranties against liens or other encumbrances but that does imply that the grantor has the right to convey title; a bargain and sales deed.

Answer 14

deed without warranty

Question 15

Title passes when the grantor delivers the deed and the grantee accepts it. The deed may be delivered personally or two a third-party escrow agent; recordation by the county clerk creates an assumption of delivery and acceptance.

Answer 15

delivery and acceptance

Question 16

Proof of ownership of property, commonly a title insurance policy or an abstract of title with an attorney’s opinion of title.

Answer 16

evidence of title

Question 17

A written instrument disposing of property on the death of the maker. The testator must be of legal age and sound mind, and not subject to undue influence. The document must be signed and witnessed; also knows as a witnessed will.

Answer 17

formal will

Question 18

A deed in which the grantor fully warrants good clear title to the premises. Used in most real estate deed transfers, a warranty deed offers the greatest protection of any deed; a warranty deed.

Answer 18

general warranty deed

Question 19

Title that cannot be defeated by a superior claim, set aside, or made void.

Answer 19

good and indefeasible title

Question 20

Words in a deed of conveyance that state the grantor’s intention to convey the property at the present time. This clause generally is worded as “convey and warrant,” “grant, bargain, and sell,” or “remise, release, and quitclaim.”

Answer 20

granting clause

Question 21

Public record books that are maintained in the county clerk’s office that list all the recorded instruments and reference the volume and page where the exact documents can be found.

Answer 21

grantor/grantee indices

Question 22

The part of a deed beginning with the words “to have and to hold,” following the granting clause and defining the extent of ownership the grantor is conveying.

Answer 22

habendum clause

Question 23

One who might inherit or succeed to an interest in land under the state law of descent when the owner dies without leaving a valid will.

Answer 23

heir

Question 24

A will that is written, dated, and signed in the testator’s handwriting but is not witnessed.

Answer 24

holographic will

Question 25

The condition of a property owner who dies without leaving a valid will. Title to the property will pass to the heirs as provided in the state laws of descent.

Answer 25

intestate

Question 26

The act of transferring property to another. Alienation may be voluntary, such as by gift or sale, or involuntary, as through eminent domain or adverse possession.

Answer 26

voluntary OR involuntary alienation

Question 27

A person signing a document swears before a notary that the information in the document is true and correct and signs the document in the presence of the notary.

Answer 27

jurat

Question 28

A document providing for the transfer of title so property owned by the deceased, called the testator.

Answer 28

last will and testament OR will

Question 29

In Texas, a tract of land that was granted to a settler by the Mexican government; a league consist of 6.919 square miles. Grants or patents from the Republic or State of Texas were called surveys.

Answer 29

league

Question 30

Good and clear title, reasonably free from the risk of litigation over possible defects.

Answer 30

marketable title

Question 31

The order in which unpaid debts or obligations will be satisfied if the property goes through a court sale.

Answer 31

priority

Question 32

The legal process by which a court determines who will inherit a decedent’s property and what the estate’s assets are; literally means “to prove.”

Answer 32

probate

Question 33

A conveyance by which the grantor transfers whatever interest she has in the real estate, without warranties or obligations.

Answer 33

quitclaim deed

Question 34

The act of entering documents affecting or conveying interest n real estate in the county clear’s records. Until it is recorded, a deed or mortgage is generally is not effective against subsequent purchasers or mortgages.

Answer 34

recording

Question 35

A deed in which the grantor warrants, or guarantees, the title only against defects arising during her tenure and ownership of the property and not against defects existing before that time, generally using the language, “by, through or under the grantor but not otherwise.”

Answer 35

special warranty deed

Question 36

The substitution of on creditor for another, with the substituted person succeeding to the legal rights and claims of the original claimant. Subrogation is used by title insurers to acquire the purchaser’s rights to sue to recover any claims they have paid.

Answer 36

subrogation

Question 37

A court action intended to establish or settle the title to a particular property, especially when a could on the title exists.

Answer 37

suit to quiet title

Question 38

Having made and left a valid will.

Answer 38

testate

Question 39

A person who makes a last will and testament.

Answer 39

testator

Question 40

The right to or ownership of land. 2) The evidence of ownership of land.

Answer 40

title

Question 41

A policy insuring the owner or mortgagee against loss by reason of defect in the title to a parcel of real estate, or other encumbrances, defects, and matters specifically excluded by the policy.

Answer 41

title insurance

Question 42

An examination of the public records to determine what, if any, defects are in the chain of title; usually performed by a title company or abstracter.

Answer 42

title search

Question 43

A deed executed by a trustee conveying land held in a trust.

Answer 43

trustee’s deed

Question 44

The act of transferring property to another. Alienation may be voluntary, such as by gift or sale, or involuntary, as through eminent domain or adverse possession.

Answer 44

voluntary or involuntary alienation

Question 45

The part of the deed in which the seller warrants the title conveyed to the buyer.

Answer 45

warranty clause

Question 46

Financial instrument for a loan.

Answer 46

deed of trust

Question 47

A gift of real property by will. The donor is the devisor and the recipient is the devisee.

Answer 47

devise

Question 48

Acquisition of property through inheritance laws when there is no will.

Answer 48

descent