Chapter 4 Flashcards
Transfer Title of Real Property
alienation
The transfer of ownership or an interest in property from one person to another, by any means
Metes and Bounds
A legal description that starts at an easily identifiable point of beginning (POB), then describes the property’s boundaries in terms of bounds (compass directions) and metes (distances), ultimately returning to the point of beginning.
Point of Beginning (POB)
a point in the metes and bounds system that is reasonably easy to locate and tied to a reference point that is well established
Government Rectangular System
Legal description for land referencing principal meridians and baselines designated throughout the country
Description by Reference
A valid legal description that refers to a recorded plat or other publicly recorded document
Testate
when property is distributed from a a valid will to heirs of the person who died
Intestate
when property is distributed without a valid will to heirs of the person who died
Bequest
gift of personal property with a will
Legacy
gift of cash with a will
Devise
gift of real property with a will
Descent
Gift of real property without a will
Beneficiary
Heir of the will
Probate
legal process to distribute an estate
Testattor
the person who made the will
Executor
carries out the will
