Transfer of Title Flashcards
Unit 22, Page 371
Transfer of Title methods
-Voluntary (during life)- by gift, sale or exchange
-Involuntary (during life)- eminent domain, escheat, foreclosure, adverse possession, erosion, partition
-Will (testate)
-Descent (intestate)
Adverse possession
Losing title to another person who has some claim to the land, takes possession, and most important, USES the land.
Example: Squatter’s rights
Losing title to another person who has some claim to the land, takes possession, and most important, USES the land.
Adverse possession
Dying without a will
Intestate
Intestate
Dying without a will
Dying with a will
Testate
Testate
Dying with a will
Probate
Legal process by which a court determines who inherits the property of a deceased person.
Legal process by which a court determines who inherits the property of a deceased person.
Probate
Executor/Executrix
Person named in a will to oversee its execution
Administrator
Person who is assigned to oversee the distribution of an estate if someone (testator) did not name an executor or died intestate (without a will)
A party who makes a will
Testator/testatrix
Testator/testatrix
A party who makes a will
Devise
The gift of real property by will
The gift of real property by will
Devise
