Title

Question 1

Abstract of Title

Answer 1

A summary of all conveyance and legal proceedings affecting title to a parcel of real estate

Question 2

Actual Notice

Answer 2

The knowledge one has gained based on what has been actually seen, heard, read, or observed

Question 3

Chain of Title

Answer 3

A series of conveyances, encumbrances, and other instruments affecting the title from the time original patent was granted, or as far back as records are available

Question 4

Constructive Notice

Answer 4

A notice given by a recorded document because a person could have discovered certain facts upon reasonable investigation, and a “reasonable man” in the same situation would have conducted such an investigation

Question 5

Derivative Title

Answer 5

All ownership belonging to the individuals or legal entities and derived from the government’s original title

Question 6

Inquiry Notice

Answer 6

The expected examination of public records and visual inspection for claims and the extent of those claims by anyone acquiring a property or interest

Question 7

Marketable Title

Answer 7

Title that is reasonably free from risk of legal dispute over possible defects

Question 8

Original Title

Answer 8

The title to real estate owned by the country or state

Question 9

Patent

Answer 9

The instrument used when an original title is conveyed by a state or federal government to an individual

Question 10

Quitclaim Deed

Answer 10

A deed to relinquish any interest in property that the grantor may have, but implying no warranties; a deed that transfers only whatever right, title, or interest, if any, the grantor owns, without implying any warranties

Question 11

Title

Answer 11

Gives evidence of the quality, right, and interest in real property, which allows a government, individual, individuals, or legal entity to retain possession of the property

Question 12

Torrens System

Answer 12

A legal system for the registration of land ownership; the Torrens system verifies ownership of land and the status of title, including any encumbrances except tax liens

Question 13

Acknowledgement

Answer 13

The formal declaration by a person executing an instrument that he or she is freely signing it

Question 14

Affidavit of Property Value

Answer 14

A notarized statement signed by buyers and sellers and disclosing the sales price that in most cases must accompany a deed that is to be recorded in Arizona

Question 15

Alienation

Answer 15

The act of transferring real property from one person to another

Question 16

Alienation by Descent

Answer 16

The transfer of one’s property after death in accordance with the laws of descent when a person dies intestate

Question 17

Alienation by Will

Answer 17

The transfer of one’s property after death pursuant to the terms of the decedent’s valid will

Question 18

Bargain and Sale Deed

Answer 18

A deed that contains no covenants, but does imply that the grantor owns the property being conveyed

Question 19

Beneficiary Deed

Answer 19

Conveys an interest in real property to a grantee beneficiary designated by the owner

Question 20

Clouds on Title

Answer 20

A claim or document that affects title to real estate; the actual cloud may ultimately prove invalid, but its existence mars the title

Question 21

Disclaimer Deed

Answer 21

A deed executed by one spouse that denies any interest in the property of the other spouse

Question 22

Exceptions

Answer 22

Limitations on the title, such as easements, mineral rights or deed restrictions, or other encumbrances on the property

Question 23

General Warranty Deed

Answer 23

A deed with covenants whereby the grantor agrees to protect the grantee against any claimant

Question 24

Grantee

Answer 24

The person named in a deed who acquires ownership

Question 25

Granting Clause

Answer 25

Transfers the property rights along with the grantor’s covenants (promises); the wording related to the covenants varies depending upon the type of deed

Question 26

Grantor

Answer 26

The seller or giver in the sale or gift of real property

Question 27

Habendum Clause

Answer 27

The “to have and to hold” clause that defines or limits the quantity of the estate granted in the deed

Question 28

Involuntary Alienation

Answer 28

The transfer of property ownership without the consent of the owner; accomplished by operation of the law

Question 29

Livery of Seisin

Answer 29

A mid-seventeenth century ceremony for the transfer of real property ownership

Question 30

Quitclaim Deed

Answer 30

A deed to relinquish any interest in property that the grantor may have but implying no warranties; a deed that transfers only whatever right, title, or interest, if any, the grantor owns, without implying any warranties

Question 31

Reservations

Answer 31

Uses that the grantor withholds from the title being conveyed for personal use

Question 32

Special Warranty Deed

Answer 32

A deed in which the grantor warrants or guarantees the title only against defects arising during his or her own ownership of the property and not against defects existing before the time of ownership

Question 33

Voluntary Alienation

Answer 33

The transfer of ownership with the consent of the owner