LESSON 9: CONVEYANCE OF TITLE Flashcards
Where is information about the title to property stored?
Information about the title is stored in the Clerk and Recorder’s office of the county where the property is located.
Who typically performs title searches for real estate?
Title searches are most commonly done by title insurance companies.
What is a “chain of title”?
The chain of title is the collection of records detailing the history or life story of a property, starting with the original owner (the government) and proceeding through all prior owners down to the current title-holder.
What does “color of title” mean in real estate?
“Color of title” means that a person claims ownership with a document that may have a defect, raising questions about the legitimacy of the title. However, it is sufficient to bring the issue to court if needed.
What is a “quiet title suit”?
A quiet title suit is a legal action filed to resolve problems with the title to property when those issues can’t be fixed by corrective documents.
What is the purpose of a quiet title suit?
The purpose is to settle, once and for all, the issues about the property that are being contested and to “quiet” all claims except those of the party bringing the suit.
What is “voluntary alienation”?
Voluntary alienation refers to the transfer of ownership, interest, or estate in real property from one person to another by mutual consent, often using a deed or other document.
Give an example of voluntary alienation in real estate.
An example is a person transferring property ownership by deed due to a divorce.
What is “involuntary alienation”?
Involuntary alienation occurs when a property interest is transferred without the owner’s cooperation, often due to legal actions like foreclosure or death.
What is “adverse possession”?
Adverse possession is when a person acquires title to another’s property through continuous, hostile occupation without permission, meeting specific state requirements.
What is an “easement by prescription”?
An easement by prescription is the right to use someone else’s property after a continuous and adverse use without permission.
What is “eminent domain”?
Eminent domain is the government’s right to take private property for public use, with just compensation for the owner.
What is “erosion”?
Erosion is the gradual loss of land due to natural causes like wind or water.
What is “escheat”?
Escheat occurs when a person dies without a will or heirs, and the property is transferred to the state.
What is “descent”?
Descent refers to the transfer of property to heirs when someone dies intestate (without a will).
What is “foreclosure”?
Foreclosure is the process by which a lender takes ownership of a property due to the owner’s failure to pay debts, often resulting in a sale.
What is “forfeiture” in real estate?
Forfeiture happens when someone loses title to property for violating conditions in the deed, such as using it for an unintended purpose.
What is “partitioning” in real estate?
Partitioning is a legal process to divide a property owned by two or more people who cannot agree on its use.
What is a “reversion” in real estate?
A reversion is a future interest where property ownership returns to the grantor after a specific period or condition is met.
What is “alienation” in real estate?
Alienation refers to the transfer of an interest in real property.
What does a deed in real estate convey?
A deed transfers ownership of real estate from one party to another.
What must be included for a deed to be legally enforceable?
A deed must identify the grantor and grantee, describe the property, and be signed by the grantor.
What is the legal age for a grantor in Texas to transfer property?
The legal age for a grantor in Texas is 18 years old.
What is “consideration” in a deed?
Consideration refers to what the grantee offers in exchange for the property, such as money or “natural love and affection” in the case of a gift.
What does the phrase “hereby assign, grant, and convey” indicate in a deed?
These are words of conveyance, indicating the intent to transfer property.
What is a common method for describing property in a deed?
Legal descriptions of property are typically given using metes and bounds, government survey, or recorded plats.
Who can sign a deed if the grantor is legally incompetent?
A deed can be signed by someone holding power of attorney or a legal guardian for the grantor.
What is required for a deed to transfer title?
The deed must be delivered to and accepted by the grantee.
What is the “relation back doctrine” in Texas real estate law?
Once a deed is recorded, there is a presumption that delivery occurred, and title is transferred as of the time the deed was given to the escrow agent.
What is a General Warranty Deed?
A General Warranty Deed guarantees that the seller warrants the property back to the beginning of time, with no claims or encumbrances.
What is the difference between a Special Warranty Deed and a General Warranty Deed?
A Special Warranty Deed only covers the period during which the grantor owned the property, whereas a General Warranty Deed covers all prior ownerships.
What is a Bargain and Sale Deed?
A Bargain and Sale Deed transfers property without warranties regarding ownership or encumbrances.
What does a Quitclaim Deed do?
A Quitclaim Deed transfers any interest the grantor may have in the property, but does not guarantee ownership or clear title.
Why would a Quitclaim Deed be used?
It is used to resolve disputes, clear clouds on title, or transfer property between family members or entities.
What is a key disadvantage of using a Quitclaim Deed in a real estate transaction?
A Quitclaim Deed does not guarantee clear title, and should not be used in typical buyer-seller transactions.
What is a Fee Simple Absolute in real estate?
A Fee Simple Absolute is the broadest form of property ownership, allowing the holder to sell or will the property at their discretion.
What is a Life Estate?
A Life Estate grants ownership of property for the duration of a person’s life, typically the recipient of the property.
What is a Fee Simple Defensible?
A Fee Simple Defensible has conditions that, if violated, could cause the property to revert to the original owner or a third party.
