Chapter 9 Flashcards
What does the word, “title” mean?
Title means ownership
What does legal title mean?
Legal title means a person owns the property and has the deed
What are the two ways to voluntarily alienate from title? (This is a fancy way to say sell/transfer/convey your property).
A deed and a will
What are the four ways to involuntarily alienate from title?
- Descent 2. Escheat to the state 3. Adverse possession 4. Eminent domain
Which of the four ways to involuntarily alienate from title is described as when a person dies intestate, (without a will) and all the property the deceased person owned at the time of death passes, descends, to the deceased person’s legal descendants?
Descent
What kind of notice is also called legal notice and means recording documents in public records?
Constructive notice
What is chain of title?
A chain of title is the complete successive record of a property’s ownership. It is a list of owners from beginning to end
What is an abstract of title?
An abstract of title is a search of the recorded documents concerning a parcel of property. It is a list of everything that has been recorded on the property
How would someone know that a title was clear of clouds and was marketable or merchantable?
- If they had title insurance 2. If they had an opinion of title from an attorney
What clause in a deed is a promise the grantor owns the property and has the right to convey the property to the grantee?
The covenant of seisin
On a deed, who is the grantor and who is the grantee?
The grantor is the seller and the grantee is the buyer.
Which deed is used to clear clouds on a title in the form of easements?
Quitclaim deed
If a cloud on a title can’t be cleared by ordinary means, how could it be cleared?
Go to court
What is the best deed?
A general warranty deed
What are the four special purpose deeds?
- Personal representative’s deed 2. Guardian’s deed 3. Committee’s deed 4. Tax deed
Which special purpose deed is used when an individual is either appointed by will or by order of court to settle the estate of a deceased person?
A personal representative’s deed
Which deed is used to convey property TO a minor?
Any deed can be used
Which deed is used to convey property OF a minor?
A guardian’s deed
What are the three types of encumbrances, (also called clouds) on a title?
- An easement 2. An encroachment 3. A lien
Which type of encumbrance is an implied easement?
An encroachment
Which easement allows the water company to dig up a property owners yard to install a water pipe?
An easement in gross
What is an encroachment?
An encroachment is the unauthorized use of another’s property. An example would be a fence
Which easement is acquired by continually using another person’s real property and is created after 20 years of uninterrupted use?
An easement by prescription
Which easement is created when a landowner subdivides land, conveying part of it in a way that makes it landlocked, and the court makes the landowner build a road and give that new homeowner access to their property by driving through the landowner’s property?
An easement by necessity
Which liens are superior? (list them in order)
- Property taxes 2. Special assessment taxes 3. Federal estate taxes
What is a restrictive covenant?
Restrictive covenants are recorded by the developer such as everyone having a blue mailbox or a brown door. Restrictive covenants must be followed by the entire subdivision
What are deed restrictions?
Deed restrictions are private restrictions placed in a deed that are placed by the owner and affect the next owners
If everyone in the neighborhood cannot build a house over 1,500 square feet, is that a deed restriction or a restrictive covenant?
Restrictive covenant
