Transfer of Title

Question 1

voluntary alienation

Answer 1

transfer of title made by gift, sale, or exchange

Question 2

involuntary alienation

Answer 2

title transferred without owner’s consent
(foreclosure, land used for public use, owner dies)

Question 3

adverse possession

Answer 3

another form of involuntary alienation

owner loses land to someone else who has some claim to the land

Question 4

intestate

Answer 4

without having left a will

Question 5

testate

Answer 5

having left a will

Question 6

probate

Answer 6

legal process by which a court determines who inherits the property of a deceased person

Question 7

administrator

Answer 7

person appointed by the court to administer the estate of a deceased person who left no will

Question 8

last will and testament

Answer 8

instrument made by owner to voluntarily convey title to owner’s property after their death

Question 9

testator

Answer 9

a person who has made a will

Question 10

legal requirements for making a will

Answer 10

1. person must be of legal age and of sound mind
2. will must be witnessed by two people

Question 11

descent

Answer 11

the succession to the estate property by inheritance, or by any act of law

Question 12

heirs

Answer 12

person legally entitled to the property of another on that person’s death

Question 13

inverse condemnation

Answer 13

when governmental requirements have taken any rights to use and/or develop on a property

Question 14

five types of involuntary alienation

Answer 14

1. escheat
2. eminent domain
3. foreclosure
4. court action
5. adverse possession

Question 15

escheat

Answer 15

a form on involuntary alienation in which the government takes ownership of estate assets or unclaimed property

Question 16

holographic will

Answer 16

will handwritten with no witnesses

legal in NJ

Question 17

will vs deed

Answer 17

a deed conveys present interest in real estate during lifetime of grantor, will doesn’t start until after owner’s death