How Real Estate May Be Acquired

Question 1

Define will?

Answer 1

a written document that provides the transfer of title to property owned by the deceased

Question 2

Define intestate?

Answer 2

The condition of a property owner who dies without leaving a valid will.

Question 3

How is ownership divided in community property within the CA law of intestate succession?

Answer 3

If there is a surviving spouse:
1/2 already belongs to surviving spouse
Remaining 1/2 goes to surviving spouse after decedent’s liabilities have been paid

Question 4

How is ownership divided in separate within the CA law of intestate succession?

Answer 4

If there is a surviving spouse and no child:
- surviving spouse takes 1/2 or relative

If there is a surviving spouse and one child
- surviving spouse takes 1/2
- child takes 1/2

If there is a surviving spouse and more than one child
- surviving spouse takes 1/3
- children divide 2/3 equally

Question 5

Define witnessed will?

Answer 5

A written document normally prepared by an attorney, witnessed by a third party and signed by the testator.

Question 6

Define holographic will

Answer 6

A will that is written, dated, and signed in the testator’s handwriting but not witnessed.

Question 7

Define accession

Answer 7

the process of improvement or addition to property through natural or manufactured means

Question 8

Define accretion

Answer 8

the gradual and imperceptible increase of land by the deposit of soil washed up naturally from a river, lake, or sea

Question 9

Define reclition

Answer 9

An increase of the land by permanent withdrawal of the ocean or a river

Question 10

Define adverse possession and list out the ONCHA requirements.

Answer 10

a method of acquiring title to real property by occupying the property against the interest of the true owner and fulfilling other statutory requirements

• Open
• Notorious
• Continuous
• Hostile
• Adverse to the interests of the real owner for 5 years

Question 11

List out the ways to transfer real estate

Answer 11

• private grant
• public grant
• public dedication
• alienation by law
• execution of sale
• forfeiture
• bankruptcy
• marriage

Question 12

Define grant deed

Answer 12

grantor warrants to grantee that he has previously conveyed the estate and will convey any title to property he may later acquired

Question 13

dgift deed

Answer 13

a deed in which the consideration is “love and affection”

Question 14

define quitclaim deed

Answer 14

grantor transfers whatever interest in real estate without warranties or obligations

Question 15

define warranty deed

Answer 15

a deed in which the grantor fully warrants good clear title to the premises