Deeds

Question 1

Fee Simple

Answer 1

Absolute ownership of real property

• unconditional power during his life
• property descends to heirs upon death

Question 2

Habendum

Answer 2

The “to have and to hold” clause that defines or limits the quantity of the estate granted in the deed

Question 3

Alienation

Answer 3

Transferring property to another, as the transfer of property and possessions of lands, by gift or sale, from one person to another

Question 4

Trust Deed

Answer 4

A conveyance of real estate to a third person to be held for the benefit of another

Question 5

Devisee

Answer 5

A person who inherits real estate through a will

Question 6

Warranty Deed

Answer 6

A deed that contains s covenant that the grantor will protect the grantee against any and all claims

1. That he has title to the property and the power to convey it
2. That his title is good against claims by others
3. That the property is free of encumbrances except as specified
4. That he will perform whatever else is necessary to make the title good
5. That he will forever defend the rights of the grantee

Question 7

Quitclaim Deed

Answer 7

A deed that conveys only the grantor’s rights or interest in real estate, without stating their nature and with no warranties of ownership

*often used to remove a possible cloud from the title

Question 8

Covenant of Seizin

Answer 8

Warranty by the grantor that he has title to the property and the power to covey it

Question 9

Covenant of quiet enjoyment

Answer 9

Warranty by the grantor that his title is good against claims by others

Question 10

Covenant against encumbrances

Answer 10

Warranty by grantor that the property is free of encumbrances except as specified (ex: outstanding mortgage loans, unpaid taxes, easements, deed restrictions, mechanics liens or leases)

Question 11

Covenant of further assurances

Answer 11

Warranty by grantor that he will perform whatever else is necessary to make the title good

Question 12

Covenant of warranty forever

Answer 12

Warranty by the grantor that he will forever defend the rights of the grantee

Question 13

Cloud on title (title defect)

Answer 13

A circumstance in which the public records are not perfectly clear about who owns or has rights to certain property rights. If valid, this will affect or impair the owner’s title.

*should be cleared before closing

Question 14

Deed requirements

Answer 14

1. A legally competent grantor
2. A designated grantee
3. Consideration
4. Words of conveyance
5. The interest being conveyed
6. A description of the property
7. Grantor’s signature
8. Delivery of the deed and acceptance