Chapter 7 - Transfer of Title

Question 1

**What are the most common types of Deeds?

Answer 1

• *1. GENERAL WARRANTY DEED
  2. SPECIAL WARRANTY DEED
  3. BARGIN AND SALE DEED
  4. QUITCLAIM DEED
  5. DEED OF TRUST
  6. RECONVEYANCE DEED
  7. TRUSTEE’S DEED
  8. DEED EXECUTED PURSUANT TO A COURT ORDER

Question 2

**What is a GENERAL WARRANTY DEED?

Answer 2

A General Warranty deed provides the GREATEST protection to buyer because the grantor is legally bound by certain covenants (promises) or warranties.

Question 3

**The basic warranties in a General Warranty Deed are:

Answer 3

1. COVENANT OF SEISIN - the grantor warrants that they own the property and have the right to convey title to it.
2. COVENANT AGAINST ENCUMBRANCES - warrants that the property is free from liens or encumbrances…
3. COVENANT OF FURTHER ASSURANCES - promises to obtain and deliver any instrument needed to make the title good.
4. COVENANT OF QUIET ENJOYMENT - will be good against any third party who might bring a court action to establish superior title to the property.
5. COVENANT OF WARRANTY FOREVER - promises to compensate the grantee for the loss sustained if the title fails at any time in the future.

Question 4

**A SPECIAL WARRANTY DEED is?

Answer 4

A type of deed that contains two basic warranties:
1. That the grantor received title
2. That the property was not encumbered during the time the grantor held title, except as otherwise noted in the deed.
(does not defend the title against the actions of earlier owners of the property.
GENERALLY CONTAINS WORDS LIKE: GRANTOR REMISES, RELEASES, ALIENATES, AND CONVEYS.

Question 5

**A BARGAIN AND SALE DEED is?

Answer 5

A type of deed that contains NO EXPRESS WARRANTIES against encumbrances, but it DOES IMPLY that the grantor holds title and possession of the property.

Question 6

**A QUITCLAIM DEED is?

Answer 6

A type of deed that provided the grantee with the LEAST PROTECTION of any deed. It carries NO COVENANTS or WARRANTIES and generally conveys only whatever interest the grantor may have when the deed is delivered. (may be used to cure a title defect or ‘cloud on the title’… or to fix a problem).

Question 7

**A person who dies TESTATE has what?

Answer 7

Prepared a WILL.

INTESTATE = without a valid will

Question 8

**A WILL is made by a property owner to convey title to real and personal property….

Answer 8

After the owners death while the TESTATOR, the person who makes the will is alive.

Question 9

**The gift of real property by will is known as a?

Answer 9

DEVISE

and a person who RECEIVES real property by will is known as a DEVISEE.

Question 10

CONVEYANCE is?

Answer 10

A term used to refer to any document that TRANSFERS title to real property. The term is also used in describing the act of transferring.

Question 11

** An ACKNOWLEDGMENT is a formal declaration under oath that the person who signs a written document does so voluntarily and that the signature is genuine. Title is said to pass only when…

Answer 11

A deed is DELIVERED AND ACCEPTED.

Question 12

*** ADVERSE POSSESSION (same as Prescriptive easement) is another means of involuntary transfer. What is it?

Answer 12

When a person makes a claim to certain property, takes exclusive possession of it by excluding the true owner and any other title claimants, and USES IT.
Adverse possession must be ONCHA
Open
Notorious
Continuous
Hostile
Adverse

Question 13

When it’s necessary to define or explain the ownership to be enjoyed by the grantee a________ may follow the granting clause.

Answer 13

HABENDUM CLAUSE

The Habendum clause begins with the words to HAVE AND TO HOLD