Chapter Twelve Flashcards
the actual, open, notorious, hostile, and continuous possession of another’s land under a claim of title. 202
adverse possession
aa formal declaration made before a duly authorized officer, usually a notary public, by a person who has signed a document. 197
acknowledgement
a deed that carries with it no warranties against liens or other encumbrances but that does imply that hte grantor has the right to convey title. The grantor may add warranties to the deed at his or her discretion. 199
bargain and sale deed
a written instrument that, when executed and delivered, conveys title to or an interest in real estate. 17
deed/deed of trust
a gift of real property by will. The donor is the devisor, and the recipient is the devisee. 203
device
a deed in which the grantor fully warrants good, clear title to the premises. Used in most real estate deed transfers, offers the greatest protection of any deed. 198
general warranty deed
a person who receives a transfer of real property from a grantor. 194
grantee
words in a deed of conveyance that state the grantor’s intention to convey the property at the present time. This clause is generally worded as “convey and warrant”; “grant”; “grant, bargain, and sell”; or the like. 196
granting clause
the owner transferring title to of an interest in t=real property to a grantee. 194
grantor
the part of a deed beginning with the words “to have and to hold,” following the granting clause and defining the extent ofownership the grantor is conveying. 196
habendum clause
one who might inherit or succeed to an interest in land under the state law of descent when the owner dies without leaving a valid will. 204
heir
the conditions of a property owner who dies without leaving a valid will. Title to the property will pass to the decedent’s heirs as provided in the state law of descent. 202
intestate
the act of transferring property to another. May be voluntary, such as by gift or sale, or involuntary, as through eminent domain or adverse possession.
alienation/involuntary alienation
a legal process by which a court determines who will inherit a decedent’s property and what the estate’s assets are. 203
probate
a conveyance by which the grantor transfers whatever interest he or she has in the real estate, without warranties or obligations. 207
quitclaim deed
a deed used by a trustee under a deed of trust to return title to the trustor. 200
reconveyance deed
a deed in which the grantor warrants, or guarantees, the title only against defects arising during the period of his or her tenure and ownership of the property and not against defects existing before that time, generally using the language, “by, through, or under the grantor but not otherwise.” 206
special warranty deed
Having made and left a valid will. 202
testate
a person who has made a valid will. 204
testator/testatrix (woman) testator can be used for either gender.
1) the right to ownership or the of land, 2) tthe evidence of ownership of land. 17
title
tax stamps required to be affixed to a deed by state and/or local law. 201
transfer tax
a deed executed by a trustee conveying land held in a trust. 200
trustee’s deed
the act of transferring property to another. Alienation may be voluntary, such as by gift or sale, or involuntary, as through eminent domain or adverse possession.
alienation/voluntary alienation
a written document,properly witnessed, providing for the transfer of title to property owned by the deceased, called the testator. 203-204
will
General Warranty Deed -198
Five covenants: Covenant of seisin, Covenant against encumbrances, Covenant of quiet enjoyment, Covenant of further assurance, Covenant of warranty forever.
Special Warranty Deed - 199
Two warranties: Warranty that grantor received title, and Warranty that property was unencumbered by grantor.
