Sales Agent Guide to Real Estate I-I

Question 1

Deed

Answer 1

The evidence of ownership of all the real property which is inside the property boundaries as defined by the property description in the deed. In a transfer of ownership or sale, the real property is that which exists on the property at the time the sales agreement is signed rather than the date of closing. A deed is considered corporeal, or tangible.

Question 2

Title

Answer 2

An abstract term denoting ownership of real property. An owner holds title and proves it by showing the deed. There is no actual document in real property called a title. Title is considered incorporeal, or intangible.

Question 3

Alienation of Title

Answer 3

A transfer of ownership in any of its forms is an alienation of title. The alienation may be voluntary or involuntary.

Question 4

Essential Elements of a Deed

Answer 4

When someone claims title to property, he must prove his ownership with a valid deed. The following are items which must be incorporated into the deed to make it valid.

Question 5

Intent

Answer 5

The intent of the grantor must be evident. In court, the judge will try to determine what the grantor was attempting to do with his property. The intent is established by each of the other items on this list.

Question 6

Signature

Answer 6

The deed must have the signature of the grantor.