Closing

Question 1

list (4)

Executing a deed requires

Answer 1

1. writing signed by a grantor
2. unambiguous description of land
3. identification of parties by name or description
4. words of intent to transfer such as “grant”

NOTE: no consideration need (common exam trick!!)

Question 2

does deed delivery require physical possession?

iow: when is a deed considered “delivered”

Answer 2

no

what is required is the present intent to pass title immediately

Question 3

list (3); GQS

types of deeds

Answer 3

1. general warranty deed
2. quitclaim deed
3. special warranty deed

Question 4

general warranty deed

Answer 4

BEST DEED

warrants against all defects in title, including those attributable to grantor’s predecessors

includes the six covenants

Question 5

what is the special warranty deed

Answer 5

has same covenants as general warranty BUT here grantor makes promises only on behalf of himself

Question 6

what covenants in a quitclaim deed

Answer 6

NONE!

grantor not even promising he has good title

WORST deed!!

meant to transfer title but offers no protections

Question 7

what are the six covenants

Answer 7

Present

1. seisin
2. right to convey
3. against encumbrances

Future

1. quiet enjoyment
2. warranty
3. further assurances

Question 8

present covenants are not breached, if ever, until

Answer 8

the time the deed is delivered

Question 9

future covenants are not breached, if ever, until

Answer 9

A grantee possession of land is disturbed by a 3rd party

Question 10

what is covenant of seisin

Answer 10

grantor has BOTH title and possession of the estate or interest they purport to convey, has power to convey

Question 11

list (2)

what is covenant of right to enjoy

Answer 11

1. grantor has power and authority (of sound mind) to convey
2. only need title as proof that grantor is acting as authorized agent of title holder

Question 12

what is covenant against encumbrances

Answer 12

no visible (easement, profits, etc.) or invisible (mortgage etc.) encumbrances against title or interest being conveyed

Question 13

what is covenant of quiet enjoyment

Answer 13

grantee’s possession or enjoyment of land wont be disturbed by a 3rd party with lawful claims of title

Question 14

what is covenant of warranty

Answer 14

grantor promises to defend against reasonable claims of title by a 3rd party and to compensate grantee for any loss sustained by claim of superior title

Question 15

what is covenant to further assurances

Answer 15

grantor promises to do what is needed to perfect grantee’s title if it later turns out to be imperfect