Deeds Flashcards
Claus that defines of limits the quality and quantity of estate being conveyed. (Only with less than free estate)
Habendum clause
Words of conveyance in deed required to convey title to real property- ie: “transfer” “grants” or “releases”
Granting Clause
Promise by the banter to either do something or to not do something in regard to the land
Covenant
A qualification of the estate being granted.
Condition
A deed __________ leaves out, withholds or excepts a part of the real property described on the deed.
Exception
Reduces the rights conveyed by creating a new right in favor of the grantor. ie: keeping part of land for an easement .
Reservation
Essential elements of a deed
1) be in writing
2) have words of conveyance
3) describe the property
4) identify the parties Of the deed
5) be signed by the grantor
6) have a legally competent grantor
7) be delivered
Signing before a notary or other eligible official authorized to take acknowledgment of deeds that the conveyance is voluntary
Acknowledgment
Provides the greatest protection for the grantee and creates greatest liability for grantor. Most desired by grantee.
Warranty Deed (general warrenty deed)
This guarantees the grantor owns and possesses the property, has a fee simple absolute interest, has no conditions restricting the title and has the right to convey the title.
Covenant of Seizure
This guarantees there are no tax liens, mortgages, assessments or other liens except as stated in the deed
Covenant against Encumbrances
Provides the grantor will defend the title against all persons who lawfully claim the title.
Covenant of Warrenty
This warrants that the grantor will perform any additional act or provide any document needed to provide the title promised.
Covenant of further assurance
Warranty that the grantee will not be disturbed by a person with a lien or a better claim to the property.
Covenant of Quiet Enjoyment
Limited Warraty- limit is the convent ts by the grantor.
Special Warranty Deed
Deed states the grantor conveys the real property to the grantee. Provides no warranties.
Bargain & Sale Deed
Creates lease protection of any deed for grantee and entails the least liability for grantor. Passes any interest the signer has but ties him to no warranty.
Quitclaim Deed
Encumbrance, charge, or claim against property, which could make it legally impossible for the owner to convey marketable title.
Cloud on the Title
Enables persons to the public notice concerning documents affecting the title to real estate.
Recording
A purchaser who pays valuable consideration in good faith and has no notice is the existence if another persons claim to the title
Bona Fide Purchaser
When a land owner provides the public with a means of obtaining knowledge of his rights in the land he is providing ___________.
Constructive Notice
A person who has actual knowledge of a fact is said to have
Actual Notice
Requires that a transfer of an interest in real property be evidence in writing
Statute of Frauds
A deed from a minor is
Voidable
A deed will not convey title until it is ____________ to the grantee and accepted.
Delivered
The _________ of seized guarantees the grantor owns and pusses sea the property, has a fee simple absolute interest, has no conditions restricting the title and has the right to convey the title.
Covenant
Also know a a limited warranty deed
Special warranty deed
Effective delivery of a deed depends upon the
Intention of the grantor.
Does a deed need to be recorded to be valid?
No, it’s valid between grantor and grantee.
