Legal Descriptions and Deeds Flashcards
legal description
an exact way of describing real estate in a contract, deed, mortgage, to other document
metes-and-bounds
land description that makes use of boundaries and measurements of land in questions
point of beginning (POB)
a surveyor’s mark at the beginning location for the wide-scale surveying of land
proceeds clockwise
monuments
fixed objects used to establish real estate boundaries
rectangular survey system
based on principal meridians and base lines (longitude and latitude)
townships
principal unit of rectangular survey method (not used in NJ)
square w area of 36miles
sections
portion of township under rectangular survey method
1 square mile area
datum
a point, line, or surface from which elevations are measured
benchmarks
permanent reference point established for the use by surveyors in measuring differences in elevations
sufficient description of condo must include______
- description of land n which building is located
- designation of unit conveyed as listed
- description of common interest conveyed with unit
grantor
the owner (person who has the title to give)
grantee
the new owner of land (who acquires grantor’s land)
most common forms of deed in NJ
- full covenant and warranty deed
- bargain and sale deed (with covenants and grantor’s acts)
- bargain and sale deed (no covenants)
- quitclaim deed
warranty deed
provides greatest protection of any deed; grantor is legally bound by covenants
covenants
agreement written into deeds and other instruments promising performance/nonperformance f certain acts stipulating certain uses/nonuses of the property
bargain and sale deed with covenant
provides the grantee with a covenant that the grantor has not committed any act that would encumber title to the real property being conveyed
bargain and sale deed
contains no express warranties, but implies the grantor holds title to property
quitclaim deed
provides the grantee with the least protection of any deed
carries no covenants or warranties
operates to convey to the seller’s interest in the property to the buyer
granting clause
words that convey the property
habendum clause
defines/explains the ownership to be enjoyed
contains “to have and to hold”
requirements for a valid conveyance
- granter must have legal capacity to execute
- grantee names with reasonable certainty
- recital of consideration
- granting clause
- designation of any limitations on conveyance
consideration
something of value offered by one party and accepted by another as an inducement to perform some act
for a deed to be valid it must contain_____
an adequate description of the real estate conveyed
to be valid, a deed must be signed
by all grantors named in the deed
acknowledgement
declaration made by a person who is signing a document before a notary public/authorized public officer
provides evidence that signature is genuine
delivery and acceptance
actual delivery of the deed by grantor and actual/implied acceptance by grantee
Three rules when corporation convey real estate
- can convey only upon proper resolution is passed by board of directors
- resolution authorizing the sale must be secured from stockholders
- deeds to real estate can be signed only by authorized officer
three methods to describe land
- metes and bounds
- rectangular survey method
- reference to a plat field in county where land is
covenant of seisin
the grantor warrants they own the property and has the legal right to convey it.
covenant against encumberancecs
warrants the property is free from liens or encumbrances outside those stated in the deed
covenant of quiet enjoyment
grantee’s title is good against third parties who might bring court action to establish superior title
covenant of further assurance
grantor promises to deliver instruments needed to make the title good
covenant of warranty forever
grantor will compensate grantee if title fails
township (in NJ)
references towns and boroughs, each which is a separate entity
