Transfer of Title

Question 1

Title

Answer 1

The legal right of an ownership interest in a property. It is evidence of ownership and lawful possession.

Question 2

Acknowledgement

Answer 2

A formal declaration made before a duly authorized officer, usually a notary public, by a person who has signed a document.

Question 3

Adverse Possession

Answer 3

the actual, visible, hostile, notorious, exclusive, and continuous possession of another’s land under a claim of title. Possession for a statutory period may be a means of acquiring title.

Question 4

Bargain & Sales Deed

Answer 4

A deed that carries with it no warranties against liens or other encumbrances but that does imply that the grantor has the right to convey title. The grantor may add warranties to the deed at his or her discretion

Question 5

Deed

Answer 5

A written instrument that, when executed and delivered, conveys title to or an interest in real estate.

Question 6

Deed in Trust

Answer 6

An instrument that grants a trustee full power to sell, mortgage, and subdivide a parcel of real estate. The beneficiary controls the trustee’s use of these powers under the provisions of the trust agreement.

Question 7

Devise

Answer 7

A gift of real property by will. The donor is the devisor, and the recipient is the devisee.

Question 8

General Warranty Deed

Answer 8

A deed to the premises. It is used in most real estate deed transfers and offers the greatest protection of any deed.

Question 9

Grantee

Answer 9

A person who receives a conveyance of real property from a grantor

Question 10

Granting Clause

Answer 10

Words in a deed of conveyance that state the grantor’s intention to convey the property at the present time. This clause is generally worded as “convey and warrant,” “grant,” “grant, bargain, and sell,” or the like.

Question 11

Grantor

Answer 11

The person transferring title to or an interest in real property to a grantee

Question 12

Habendum Clause

Answer 12

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.

Question 13

Intestate

Answer 13

The condition of a property owner who dies without leaving a valid will. Title to the property will pass to the decedent’s heirs as provided in the state law of descent

Question 14

Involuntary Alienation

Answer 14

The act of involuntarily transferring property to another, such as through eminent domain or adverse possession

Question 15

Power of Attorney

Answer 15

the specific written authority to execute legal instruments or perform other designated acts for another person

Question 16

Probate

Answer 16

A legal process by which a court determines who will inherit a decedent’s property and what the estate’s assets are

Question 17

Quitclaim Deed

Answer 17

A conveyance by which grantors transfer whatever interest they have in the real estate, without warranties or obligations

Question 18

Special Warranty Deed

Answer 18

A deed in which grantors warrant, or guarantee, the title only against defects arising during the period of their tenure and ownership of the property and not against defects existing before that time, generally using the language, “by, through or under the grantor but not otherwise.”

Question 19

Testate

Answer 19

Having made and left a valid will

Question 20

Testator

Answer 20

A person who has made a valid will. A woman is often called the testatrix, although testator can be used for either gender.

Question 21

Title

Answer 21

The legal right of an ownership interest in a property. It is evidence of ownership and lawful possession

Question 22

Transfer Tax

Answer 22

Tax stamps required to be affixed to a deed by state and/or local law

Question 23

Trustees Deed

Answer 23

A deed executed by a trustee conveying land held in a trust.

Question 24

Voluntary Alienation

Answer 24

The act of voluntarily transferring property to another such as by gift or sale.

Question 25

Will

Answer 25

A written document, properly witnessed, providing for the transfer of title to property owned by the deceased, called the testator.