Deeds and Transfer: Terms Flashcards
Acknowledge
The legal process of having the signature on a contract or other legal document verified by a notary public
Actual Delivery
The grantor Actually hands or send the deed to the grantee. If mailed it should be sent by registered mail
Administrator
A person appointed by the court to carry out the terms of the will
Bargain and Sale Deed
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
Bequest or Legacy
A gift of personal property given in a will
Codicil
An addition or change to an existing will
Constructive Delivery
The process of transferring a deed from the grantor to the grantee by recording the deed at the county recorder’s office
Covenant against encumbrances
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
Covenant of Further Assurance
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
Covenant of Quiet Enjoyment
The grantor guarantees that the grantee has rights to the property free of interference from acts or claims of third parties
Covenant of Seizin
The grantor state that he/she holds title and has the right to convey it
Covenant of Warranty Forever
The grantor will bear the expense of defending the grantee’s title if any person asserts a rightful claim to the property
Descent
The laws by which the court determines ownership of property of a person who has died intestate, but who has heirs.
Deed
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
Delivery
The process of the grantor giving the deed to the grantee
Devise (devisor/devisee)
A gift of real property given in a will. The testator is the “devisor,” the one who receives the gift is the “devisee”
Exceptions and reservations clause
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
Executor or Executrix
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
Formal will
Most valid form of a will, usually prepared by an attorney. It is the least likely form of a will to be challenged.
General or Full Warranty Deed
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
Gift Deed
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.
Grant Deed
A type of deed used in some states which contains limited warranties. The grantor usually also provides title insurance
Grantee
One who receives property or property rights from a grantor.
Grantor
one who conveys property or property rights to a grantee
Habendum Clause (“Subject to”, “to have and to hold” clause)
defines and limits the estate which the grantee will receive when the property is transferred
Holographic Will
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
Intestate
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.)
Testate
A person who dies leaving a will is said to have died testate.
Nuncupative Will
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
Patent Deed/ Public Grant
Used by the government to convey public property to private individuals
Personal Representative
A term used in Utah for the Administrator or Executor of the will
Recording
A form of delivery of a deed, also known as constructive delivery or notice
Quit Claim Deed
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
Special Warranty Deed
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.
Testator/Testatrix
A person who made a will
Third Party Delivery
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.
Title
An abstract term denoting ownership; not a document
