Transfer of Real Property

Question 1

Two terms that define the actions that are required to effect a transfer of title by deed

Answer 1

Special warranty deed

Question 2

The person conveying the title of a property to someone else (can also mean the person creating a power of attorney)

Answer 2

Delivery and acceptance

Question 3

A person who drafts a will

Answer 3

Testator

Question 4

Intestate

Answer 4

Without a will

Question 5

Type of deed that provides the strongest and broadest form of guarantee of title

Answer 5

Full covenant and warranty

Question 6

Type of deed that may come with or without covenants of warranty

Answer 6

Bargain and sale

Question 7

Type of deed that releases any rights of the grantor to the property, but doesn’t offer any warranties to the grantee

Answer 7

Quitclaim

Question 8

A type of involuntary alienation that allows someone to claim someone else’s property by using it for an extended period of time

Answer 8

Adverse possession

Question 9

The legal process used to determine the validity of a will and to ensure that the will accurately reflects the deceased person’s wishes, or to properly disburse assets of an individual who died intestate

Answer 9

Probate

Question 10

Cloud on a title

Answer 10

Title defect

Question 11

The individual who conveys the ownership rights of real property

Answer 11

Grantor

Question 12

A deed given by court order selling property to satisfy a judgment

Answer 12

Referee’s deed

Question 13

The person to whom a deed is given

Answer 13

Grantee

Question 14

Legally specified allocation of a deceased person’s assets when that person died intestate (without a will)

Answer 14

Intestate succession law

Question 15

The reversion of property to the state or county, as provide by state law, in cases where a decedent dies intestate without heirs capable of inheriting , or when the property is abandoned

Answer 15

Escheat

Question 16

Land formed by accretion

Answer 16

Alluvion

Question 17

Land added by the gradual action of water

Answer 17

Accretion

Question 18

The sudden loss of land due to the action of water

Answer 18

Avulsion

Question 19

Gradual recession of water which uncovers land that usually belongs to the riparian owner

Answer 19

Reliction

Question 20

Separation of ownership (may be voluntary, as in a sale of the property, or involuntary, as in a foreclosure)

Answer 20

Alienation

Question 21

A policy that protects the insured against loss or damage due to defects in title

Answer 21

Title insurance

Question 22

The part of a title insurance policy that sets forth all encumbrances and defects that are not insured

Answer 22

Schedule of exceptions

Question 23

That part of a deed beginning with the words “to have and to hold,” following the granting clause and defining the extent of ownership the grantor is conveying

Answer 23

Habendum

Question 24

Anything of value (e.g., money, services, goods, promise) given to induce another person to enter into a contract

Answer 24

Consideration

Question 25

Words in a deed of conveyance that state the grantor’s intention to convey the property at the present time (generally worded as “convey and warrant”; “grant”; “grant, bargain, and sell”; etc.)

Answer 25

Granting clause