Title - Types of Deeds Flashcards
1
Q
General Warranty Deed
A
Grantor Guarantees that he holds 6 covenants of title (3 present & 3 Future)
- Present Covenants:
- Seisin
- Right to Convey
- Against Encumbrances
- Future Covenants:
- Quiet Enjoyment
- Warranty
- Further assistance
2
Q
Covenant of Seisin & when does breach occur?
A
- Grantor owns the land as described in the deed
- Breach - Grantor is not the owner of the prop.
3
Q
Covenant of the right to convey
A
- Grantor has the right to transfer the prop
- Breach - Grantor is not the owner of the prop.
4
Q
Covenant against encumbrances
A
- The deed contains no undisclosed encumbrances
- Breach - Prop. is encumbered by mortg., lease, easement, or covenant not spcified in the deed
5
Q
Covenant of Quiet Enjoyment
A
- Grantee’s poss. will not be interfered with by 3d paerty’s claim for title
6
Q
Covenant of warranty
A
- Guarantees that the grantor will defend against a 3d party’s claim for title
7
Q
Covenant for futher assistances
A
- Guarantees that the grantor will do whatever is nec. to perfect title should it turn out to be defective
- Covenant not recog. in all states
8
Q
When must a breach of a present covenant occur?
A
- Can only be breached at the time of closing
9
Q
When must a breach of a future covenant occur?
A
- Can occur at closing or anytime afterward
10
Q
When is there a breach of a future covenant?
A
When grantee has been sued or evicted by someone with a valid superior interest
- Grantor is not required to defend against 3d party’s wrongful claim or eviction
11
Q
What is a quitclaim deed?
A
Purchaser is taking the property as is
- No covenants of title
- Purchaser can’t sue on a quitclaim deed
12
Q
What is a special warranty deed?
A
Contains the same covenants of title as General Warranty Deed
- BUT only warrants against defects arising during the time the grantor has title
