Legal Descriptions & Deeds

Question 1

Deed

Answer 1

Is an instrument that conveys title to real property, the document that transfers ownership

Question 2

Legal Description

Answer 2

Is an exact way of describing real estate in a contract, deed, mortgage, or other document that is accepted by a court of law. Street address, property tax ID number is not usually acceptable as legal descriptions.

Question 3

Metes and Bounds

Answer 3

A legal description of a parcel of land that begins at a well-marked point and follows the boundaries, using direction and distances around the tract back to the place of beginning. (POB) Point of Beginning.

Question 4

Monuments

Answer 4

A fixed natural or artificial object used to establish real estate boundaries for metes and bounds description.

Question 5

Types of Deeds

Answer 5

Warranty Deed, Bargain and sales deed with covenants against Grantors Acts, Bargain and sale deed, quitclaim Deed

Question 6

Warranty Deed

Answer 6

Or Full covenant and warranty deed. A deed in which the grantor fully warrants good clear title to the premises. This is the greatest protection of any deed.

Question 7

Rectangular Survey System

Answer 7

Not used in New Jersey It involves surveys based on principal meridians.

Question 8

Townships

Answer 8

Land that is surveyed into 36 square miles in area. They are divided into 36 sections of one square mile each. Each square mile contains 640 acres.

Question 9

Bargain and Sale deed with Covenants

Answer 9

The grantor’s covenants that they have done nothing to encumber the property white it is their possession. This is a normal deed used in a transfer of property in New Jersey.

Question 10

Bargain and Sale Deed

Answer 10

Contains no express warranties. However it does imply that the grantor hold title to the property. This is used in foreclosures & tax sales.

Question 11

Quitclaim Deed

Answer 11

Provides the grantee with the least protection of any deed. The grantor only remises, releases, and quitclaims his or her interests in the property to the grantee. It is commonly used in Divorce settlements.

Question 12

Covenant of Seisin

Answer 12

The grantor warrants that he or she is the owner of the property.

Question 13

Covenant against encumbrances

Answer 13

The grantor warrants that the property is free from liens or encumbrances. If the covenant is breached, the grantee may sue for expenses or receive compensation.

Question 14

Covenant of quiet enjoyment

Answer 14

The grantor guarantees that the grantee’s title is good against third parties who might bring court action.

Question 15

Covenant of further assurance

Answer 15

The grantor promises to obtain and deliver any instrument needed in order to make good title.

Question 16

Covenant of warranty forever

Answer 16

The grantor guarantees that if any time in the future the title fails, he or she will compensate the grantee for the loss sustained.

Question 17

Acknowledgement

Answer 17

Is a declaration made by the person who is signing the document.

Question 18

Habendum Clause

Answer 18

It begins with the words ‘To have and to hold’. It’s provisions must agree with those set down in the granting clause.

Question 19

Principal Meridian Lines

Answer 19

Run North & South

Question 20

Base Lines

Answer 20

Run East to West.