Nat 13 Flashcards
Conveys the grantors interest and warrants title against all claims
Warranty deed
Conveys the grantors interest and warrants title against claims arising only from the grantors actions
Special warranty deed
Conveys the grantors interest but has no expressed warranty
Bargain and sales deed
Releases all of the grantors interest
Quit claim deed
Document signed by one spouse prior to the other spouse acquiring property in order to prevent it from becoming community property
Disclaimer
Explains or defines the title being transferred. “To have and to hold”
Habendum clause
Title that is without cloud or defect
Merchantable title
A summery of the chain of title
Abstract of title
A compleat history of the property
Chain of title
Protects the buyer against certain defects
Owners title policy
A duplicate set of public records maintained by a title company
Title plant
Provides buyer of a business with a list of sellers creditors
Bulk sale affidavit