Deeds and Transfer: Terms

Question 1

Acknowledge

Answer 1

The legal process of having the signature on a contract or other legal document verified by a notary public

Question 2

Actual Delivery

Answer 2

The grantor Actually hands or send the deed to the grantee. If mailed it should be sent by registered mail

Question 3

Administrator

Answer 3

A person appointed by the court to carry out the terms of the will

Question 4

Bargain and Sale Deed

Answer 4

Similar to the Quit Claim Deed except it implies that the grantor has an interest in the property. It is seldom used in Utah, but is utilized in other states

Question 5

Bequest or Legacy

Answer 5

A gift of personal property given in a will

Question 6

Codicil

Answer 6

An addition or change to an existing will

Question 7

Constructive Delivery

Answer 7

The process of transferring a deed from the grantor to the grantee by recording the deed at the county recorder’s office

Question 8

Covenant against encumbrances

Answer 8

This covenant in a deed assures the grantee that the title has no liens or encumbrances except those that have been revealed by the grantor

Question 9

Covenant of Further Assurance

Answer 9

Should anyone make a claim against the title after the transfer of the deed, the grantor promises to perform any acts necessary to perfect the title

Question 10

Covenant of Quiet Enjoyment

Answer 10

The grantor guarantees that the grantee has rights to the property free of interference from acts or claims of third parties

Question 11

Covenant of Seizin

Answer 11

The grantor state that he/she holds title and has the right to convey it

Question 12

Covenant of Warranty Forever

Answer 12

The grantor will bear the expense of defending the grantee’s title if any person asserts a rightful claim to the property

Question 13

Descent

Answer 13

The laws by which the court determines ownership of property of a person who has died intestate, but who has heirs.

Question 14

Deed

Answer 14

The evidence of ownership of all the real property which is inside the property boundaries as defined by the property description in the deed. A deed is considered corporeal, or tangible

Question 15

Delivery

Answer 15

The process of the grantor giving the deed to the grantee

Question 16

Devise (devisor/devisee)

Answer 16

A gift of real property given in a will. The testator is the “devisor,” the one who receives the gift is the “devisee”

Question 17

Exceptions and reservations clause

Answer 17

In a deed, it indicates rights in the real property which will not be conveyed to the grantee. This is another name for the habendum clause

Question 18

Executor or Executrix

Answer 18

A person or persons named in a will to carry out the terms of the will. In Utah, this is called a personal representative. Executor: Male Executrix:female

Question 19

Formal will

Answer 19

Most valid form of a will, usually prepared by an attorney. It is the least likely form of a will to be challenged.

Question 20

General or Full Warranty Deed

Answer 20

Th most complete transfer of ownership with the greatest protection and include the following 5 warranties: Covenant of Seizin, Covenant Against Encumbrances, Covenant of Quiet Enjoyment, Covenant of Further Assurance, Covenant of Warranty Forever

Question 21

Gift Deed

Answer 21

A transfer of ownership made for love and affection. Creditors of the donor could still use the property for payment of the grantor’s debts if it can be shown that the donor was insolvent and transferred the property to evade creditors.

Question 22

Grant Deed

Answer 22

A type of deed used in some states which contains limited warranties. The grantor usually also provides title insurance

Question 23

Grantee

Answer 23

One who receives property or property rights from a grantor.

Question 24

Grantor

Answer 24

one who conveys property or property rights to a grantee

Question 25

Habendum Clause (“Subject to”, “to have and to hold” clause)

Answer 25

defines and limits the estate which the grantee will receive when the property is transferred

Question 26

Holographic Will

Answer 26

A Handwritten will. It is written entirely in the handwriting of the testator and need not be witnessed. It should be dated, and it can pass both real and personal property

Question 27

Intestate

Answer 27

A person who dies and does not leave a will is said to have died intestate. Their assets will be distributed according to the State’s intestate succession law (sometimes called the law of descent.)

Question 28

Testate

Answer 28

A person who dies leaving a will is said to have died testate.

Question 29

Nuncupative Will

Answer 29

Oral Will, written down by someone and witnessed by (typically) 3 non beneficiaries. It can only convey personal property and must be signed by all the witnesses

Question 30

Patent Deed/ Public Grant

Answer 30

Used by the government to convey public property to private individuals

Question 31

Personal Representative

Answer 31

A term used in Utah for the Administrator or Executor of the will

Question 32

Recording

Answer 32

A form of delivery of a deed, also known as constructive delivery or notice

Question 33

Quit Claim Deed

Answer 33

A deed that conveys all interest in a property which the grantor may or may not have, and gives no warranties as to the condition of title. It’s primary use is to remove clouds from the title

Question 34

Special Warranty Deed

Answer 34

Warrants only against defects arising during the period of the grantor’s ownership. Contains only two covenants: The covenant of seizing and the covenant against encumbrances.

Question 35

Testator/Testatrix

Answer 35

A person who made a will

Question 36

Third Party Delivery

Answer 36

Delivery of the deed is accomplished by a disinterested party who has written, acknowledged instructions from the grantor. It is also called a deed in escrow.

Question 37

Title

Answer 37

An abstract term denoting ownership; not a document