Chapter 7 - Transfer of Title & Title Records

Question 1

Bargain and Sale Deed

Answer 1

Any deed that recites a consideration and purports to convey the real estate; a bargain and sale deed with a covenant against the grantor’s act is one in which the grantor warrants that grantor has done nothing to harm or cloud the title.

Question 2

Deed

Answer 2

A written instrument which when properly executed and delivered conveys title to real property from one person (grantor) to another (grantee).

Question 3

Grant Deed

Answer 3

A limited warranty deed using the word “grant” or like words that assures a grantee that the grantor has not already conveyed the land to another and that the estate is free from encumbrances placed by the grantor.

Question 4

Grantee

Answer 4

A person to whom a grant is made.

Question 5

Grantor

Answer 5

A person who transfers his or her interest in property to another by grant.

Question 6

Quitclaim Deed

Answer 6

A deed to relinquish any interest in property which the grantor may have, without any warranty of title or interest.

Question 7

Sheriff’s Deed

Answer 7

A deed given by court order in connection with the sale of a property to satisfy a judgment.

Question 8

Special Warranty Deed

Answer 8

A deed in which the grantor warrants or guarantees the title only against defects arising during the grantor’s ownership of the property and not against defects existing before the time of the grantor’s ownership.

Question 9

Voluntary Alienation

Answer 9

Transfer of title to an asset with the consent of the owner.

Question 10

Warranty Deed

Answer 10

A deed used to convey real property which contains warranties of title and quiet possession, and the grantor thus agrees to defend the premises against the lawful claims of third persons.

Question 11

Acknowledgment

Answer 11

A formal declaration made before an authorized person, e.g., a notary public, by a person who has executed an instrument stating that the execution was his or her free act.

Question 12

Consideration

Answer 12

Anything given or promised by a party to induce another to enter into a contract, e.g., money, personal services, or even love and affection.

Question 13

Grant

Answer 13

A technical legal term in a deed of conveyance bestowing an interest in real property to another. The words “convey” and “transfer” have the same effect.

Question 14

Grantee

Answer 14

A person who receives title to real property by deed.

Question 15

Grantor

Answer 15

A person who conveys title to real property by deed.

Question 16

Habendum Clause

Answer 16

The “to have and to hold” clause which may be found in a deed.

Question 17

Legal Description

Answer 17

A land description recognized by law; a description by which property can be definitely located by reference to government surveys or approved recorded maps.

Question 18

Acceptance

Answer 18

The act of agreeing or consenting to the terms of an offer thereby establishing the “meeting of the minds” that is an essential element of a contract.

Question 19

Acknowledgment

Answer 19

A formal declaration made before an authorized person, e.g., a notary public, by a person who has executed an instrument stating that the execution was his or her free act.

Question 20

Recording

Answer 20

The process of placing a document on file with a designated public official for public notice. This public official is usually a county officer known as the County Recorder who designates the fact that a document has been presented for recording by placing a recording stamp upon it indicating the time of day and the date when it was officially place on file. Documents filed with the Recorder are considered to be placed on open notice to the general public of that county.

Question 21

Adverse Possession

Answer 21

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 of record.

Question 22

Eminent Domain

Answer 22

The right of the government to acquire property for necessary public or quasi-public use by condition; the owner must be fairly compensated.

Question 23

Escheat

Answer 23

The reverting of property to the State when heirs capable of inheriting are lacking.

Question 24

Involuntary Alienation

Answer 24

The transfer of title to real property as a result of a lien foreclosure sale, adverse possession, the filing of a petition in bankruptcy, or condemnation under power of eminent domain or upon the death of the titleholder, to the State when there are no heirs.

Question 25

hostile possession

Answer 25

that is against the owner’s wishes and without their consent

Question 26

actual possession

Answer 26

in regard to use of the property (for example: occupy a home, build and use a shed on a portion of the property)

Question 27

exclusive possession

Answer 27

where the trespasser is the sole person using the property

Question 28

open and notorious

Answer 28

possession and use of the property as an owner, without concealing his occupancy

Question 29

continuous possession

Answer 29

for 21 years

At 21 years, Pennsylvania’s statutory period is very long compared to most states. In some states is as low as five years.

Question 30

Devise

Answer 30

A gift or disposal of real property by last will and testament.

Question 31

Devisee

Answer 31

One who receives a gift of real property by will.

Question 32

Devisor

Answer 32

One who disposes of real property by will.

Question 33

Intestate

Answer 33

A person who dies having made no will, or one which is defective in form, is said to have died intestate, in which case the estate descends to the heirs at law or next of kin.

Question 34

Probate

Answer 34

The official proving of a will. The legal process wherein the estate of a decedent is administered.

Question 35

Testate

Answer 35

Having made a valid will before one dies.

Question 36

Testator

Answer 36

One who makes a will.

Question 37

Actual Notice

Answer 37

Express or implied knowledge of a fact.

Question 38

Constructive Notice

Answer 38

Notice of the condition of title to real property given by the official records of a government entity which does not require actual knowledge of the information.

Question 39

Recording

Answer 39

The process of placing a document on file with a designated public official for public notice. This public official is usually a county officer known as the County Recorder who designates the fact that a document has been presented for recording by placing a recording stamp upon it indicating the time of day and the date when it was officially place on file. Documents filed with the Recorder are considered to be placed on open notice to the general public of that county.

Question 40

Equitable Lien or
Judgement Lein

Answer 40

A lien on property imposed by a court in order to achieve fairness, particularly when someone has possession of property which he/she holds for another.

Question 41

General Lien

Answer 41

A lien on all of the property of a debtor.

Question 42

Involuntary Lien

Answer 42

A lien imposed against property without consent of an owner; example – taxes, special assessments, federal income tax liens, etc.

Question 43

Mechanic’s Lien

Answer 43

A security interest in the title to property for the benefit of those who have supplied labor or materials that improve the property.

Question 44

Specific Lien

Answer 44

A lien that attaches to one specific property only.

Question 45

Statutory Lien

Answer 45

A charge or claim upon property that arises by virtue of specific statutes that address the relationship between the property owner and the party given the ability to place the lien.

Question 46

Voluntary Lien

Answer 46

Any lien placed on property with consent of, or as a result of, the voluntary act of the owner.

Question 47

Chain of Title

Answer 47

A history of conveyances and encumbrances affecting the title from the time the original patent was granted, or as far back as records are available, used to determine how title came to be vested in current owner.

Question 48

Abstract of Title

Answer 48

A summary or digest of all transfers, conveyances, legal proceedings, and any other facts relied on as evidence of title, showing continuity of ownership, together with any other elements of record which may impair title.

Question 49

Opinion of Title

Answer 49

An attorney’s written evaluation of the condition of the title to a parcel of land after examination of the abstract of title.

Question 50

Marketable Title

Answer 50

Title which a reasonable purchaser, informed as to the facts and their legal importance and acting with reasonable care, would be willing and ought to accept.

Question 51

Certificate of Title

Answer 51

A written opinion by an attorney that ownership of a particular parcel of land is as stated in the certificate.

Question 52

Title Insurance

Answer 52

Insurance to protect a real property owner or lender up to a specified amount against certain types of loses, e.g., defective or unmarketable title.

Question 53

Cloud on Title

Answer 53

A claim, encumbrance or condition which impairs the title to real property until disproved or eliminated as for example through a quitclaim deed or quiet title legal action.

Question 54

Uniform Commercial Code

Answer 54

Establishes a unified and comprehensive method for regulation of security transactions in personal property, superseding the existing statutes on chattel mortgages, conditional sales, trust receipts, assignment of accounts receivable and others in this field.

UCC-1 is a lien on property used as collateral for a loan. UCC-1 lien must be recorded in the real estate records just like any other lien or mortgage.