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Fl Real Estate > Deeds > Flashcards

Deeds Flashcards

1
Q

Granting clause

A

is section of a deed identifying the property to be conveyed,
the grantor, the grantee, and the grantor’s promise to transfer title to the grantee.

It is also called words of conveyance, and it is needed for a deed to be valid.

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2
Q

Consideration

A

is something of value exchanged by the parties as evidence of agreement to the terms of a contract.

Consideration could be:
Promises
Goods
Services
Usually, consideration is money.

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3
Q

covenant of seisin

A

protection in which the grantor states they hold the title conveyed in the deed. grantor guarantees deed

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4
Q

The habendum clause

A

a necessary clause within a deed that clarifies the type and extent of interest conveyed by the granting clause.

If you see the words “to have and to hold”

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5
Q

Not always essential to the validity of a deed, though it is often required for recording

A

Acknowledgment

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6
Q

words like “sell, give, bargain, convey, and grant” are used for this element

A

Granting Clause

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7
Q

indicates what interest in the property is being conveyed by the grantor

A

Granting Clause

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8
Q

when real estate is gifted, this can be classified as “love and affection”

A

Consideration

Also known as a gift deed

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9
Q

formal declaration that the person signing a document is signing it by choice with a real signature

A

Acknowledgment

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10
Q

specifies both the owner’s rights and the limitations on those rights (i.e. prohibited activities)

A

The habendum clause

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11
Q

is a necessary clause within a deed that clarifies the type and extent of interest conveyed by the granting clause. If you see the words “to have and to hold

A

habendum clause

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12
Q

Quiet enjoyment covenant

A

is a lessee’s right to possess a property without interference from the lessor, previous owner, or anyone else about the claim to the title.

In other words protects you from previous people

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13
Q

Further assurance Covenant

A

is a protection in which a grantor assures that, in the future, they will sign and deliver any conveyance tools needed to obtain a clear title.

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14
Q

Also known as the bargain of sale deed with convenants

A

Special warranty deed

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15
Q

What type of deed Implies that the owner holds the right to convey title but does not warranty against encumbrances

A

Bargain and sale deed

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16
Q

Known as a deed without warranty

A

Bargain & sale deeds

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17
Q

Devise

A

A gift of real property left by a will

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18
Q

devisee

A

The person who receives real property by will

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19
Q

Testate

A

is the name for conditions in which the owner of a property dies having left a valid will.

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20
Q

Intestate

A

is the name for conditions in which the owner of a property dies without having left a valid will.

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21
Q

testator

A

the party who makes a will

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22
Q

suit to quiet title.

A

Serve as a kind of lawsuit against anyone who may want to claim ownership to property when there is a cloud on title

23
Q

Color of title

A

refers to a title transfer that is defective in a way that is unknown to the new owner. A broken chain of title

24
Q

Constructive notice

A

occurs when a property’s ownership is recorded publicly so everyone can discover the contents of recorded documents

25
Q

Actual notice

A

occurs when an individual actually knows of a fact. Actual notice is direct or first-hand knowledge. It can include:

Reading a deed

Searching title records

Physically visiting a property to see who currently has possession

26
Q

Condemnation

A

is the legal process through which the government seizes land from a property owner usually for eminent domain.

27
Q

A restrictive covenant puts restrictions on a property’s:

A

title

28
Q

The doctrine of laches

A

is a legal principle used to bar dated claims. if a neighborhood fails to enforce a deed restriction when the violation happens, they may not be able to enforce it later.

29
Q

easement appurtenant

A

is an easement that exists when two different parties own adjacent parcels of land and one owner has the ability to cross the other’s land. It runs with the land so even if he sells property the next person would have this easement

30
Q

Easement in gross

A

applies to the person or entity, not the specific land. such as a utility co to be allowed to access property for electric lines.

31
Q

What is the difference between easement by prescription and adverse possession?

A

an easement by prescription grants use of the property, whereas adverse possession grants ownership.

32
Q

Mortgagee

A

Is the organization or person who lends money (the lender)

MortgagEE has two “E”s, and so does LEndEr.

33
Q

Mortgagor

A

is the person who takes a loan out from a bank (the borrower)

MOrtgagOr has two “O”’s, and so does bOrrOwer.

34
Q

The vendor is the seller or buyer?.

The vendee is the seller or buyer?.

A

The vendor is the seller.

The vendee is the buyer.

35
Q

Part of deed that defines or limits ownership interest of the grantee

A

Habendum clause

36
Q

encumbrance

A

is a non-possessory interest in a property that burdens the title

37
Q

What must happen to a deed for title to be transferred?

A

Delivery and Acceptance

38
Q

It is also called words of conveyance, and it is needed for a deed to be valid.

A

Granting Clause

39
Q

Abstract of Title vs Chain of title

A

As opposed to a thorough and exhaustive chain of title, an abstract of title is an abbreviated history of a property, including info on any transfers, grants, wills, conveyances, liens, or encumbrances

40
Q

(3) three basic types of public land-use controls

A

PET

Police
Eminent Domain
Tax

41
Q

Name 4 Private Land-Use Restrictions

A

DELL

Deed Restrictions
Easement
Liens
Leases

42
Q

Deed restrictions

A

Also known as restrictive covenants are conditions, and restrictions, or CC&Rs often put in by developer
What are the two

way in which citizens can control how land is used

43
Q

What is the difference between easement in gross and easement appurtenant

A

Easement in gross applies to person not land and will expire when person dies while easement appurtenant applies to land

Here’s a helpful way to remember: People are gross and land is permanent (which kind of rhymes with appurtenant).

44
Q

Easement by necessity

A

If you block off the land from public access they would qualify for easement y necessity to access land

45
Q

Easement by prescription

A

if you use someone land for 20 years without theIr permission and you are loUd notorious and hostile

46
Q

If an encroachment lasts for more than seven years, what may be created?

A

Implied easement

47
Q

What Types of liens are these?

Property tax and special assessment lien
Mortgage lien
Construction lien
Vendor’s lien

A

Specific Liens

48
Q

What type of liens are these ?

Judgment lien
Estate tax lien
Income tax (IRS) lien

A

General liens

49
Q

Vendor’s lien is

A

a specific, involuntary lien that is used when a buyer doesn’t take out a loan but also doesn’t pay the full purchase price of the property. (This is also called a contract for deed.)

50
Q

A subordination agreement

A

is used to demote an existing lien in priority, so that a new lien can be in first position.

51
Q

Involuntary alienation

A

Transfer of title without the owners consent such as a foreclosure

52
Q

Explain how an implied easement and encroachment relate to each other

A

An implied easement is an encroachment that has existed and continues for more than 7 years

53
Q

Voluntary alienation

A

Example would be leaving a property to his son in a will by father

Fl Real Estate (16 decks)

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