unit 6

Question 1

What is the act of conveying ownership of real estate from one party to another?

Answer 1

alienation

Question 2

what is a private grant?

Answer 2

it is from individuals to individuals using a deed

Question 3

what is a public grant?

Answer 3

this is from the government to individuals using a land patent

Question 4

what is a dedication

Answer 4

this is from individuals to the government by recording a plat

Question 5

do deeds need to be recorded for title transfer?

Answer 5

no it doesn not the title transfers upon acceptance by the grantee
but it should be recorded

Question 6

What are the essential elements of a valid deed?

Answer 6

competent grantor
execution byt he grantors
identifiable grantee
Legal description of the land
consideration
Word of Covneyance
devlivery to and acceptance by the grantee

Question 7

What is a general warranty deed?

Answer 7

includes the most promises or covenants

greatest protection for the grantee (buyer)

Question 8

What is a special (limited) warranty deed?

Answer 8

grantor warrants title agianst the grantors actions, but not those of earlier owners of the property
grantor only warrants title against defects that may have arisen during grantors ownership, not those of earlier property owners

Question 9

What is a quitclaim deed?

Answer 9

this is the problem solver deed
least liabitilty for the grantor/seller
no covenants or warranties

Question 10

What is probate?

Answer 10

it is the process of distributing all of a deceased person’s assets

Question 11

adverse possession is:

Answer 11

ownership recognized by the courts after open continuous exvlusive acual and notorius possession of anothers land for a certain period set by state law