Chapter 9 Flashcards
1
Q
Earnest money deposit
A
an option enables a buyer to hold on to the property briefly while obtaining the additional deposit funds.
2
Q
Grant Deed
A
The grantor has not previously conveyed title to the property to another person
The property is free of any encumbrances except those the grantee already knows about.
3
Q
The 5 basic coventants
A
Seizen, against encumbrances, quiet enjoyment, further assurance, warranty forever
4
Q
quitclaim deed
A
transfers real and potential interests in a property, whether an interest is known to exist or not
5
Q
accession
A
the gain or loss of property through natural causes
6
Q
condemnation
A
if an owner does not voluntarily transfer property, the government has the right to force the property transfer through a legal process
