Unit 6 Flashcards
The owner who transfers title is called the grantor, and the person who acquires title is called the grantee.
True
A title is not considered transferred until the deed is actually delivered to and accepted by the grantee. The grantor must deliver the deed to the grantee personally.
False
In order to establish title by adverse possession, there must be proof of an exclusive, nonpermissive use that is ONCHA—open, notorious, continuous, hostile, and adverse to the true owner’s interest—for the statutorily prescribed period.
True
Title to property may be transferred without the owner’s consent by involuntary alienation.
True
The person who makes a will is called a testator.
True
An oral will is called a holographic will.
False
When conveying interests in real estate using a quitclaim deed, the extent of promises given by the grantor to the grantee are
None
A grantee who wants to obtain merchantable title via a valid deed should make sure the deed has all of the following EXCEPT
a recording stamp after closing.
Title to real estate may be transferred during a person’s lifetime by
involuntary alienation.
When a corporation transfers ownership of property, the deed must be signed by
an authorized officer.
In legal terminology, the property owner is
the devisor, grantor, lessor, and mortgagor.
Real estate that is inherited from a person who died testate is called
a devise.
A modification to a will is called
a codicil.
All of the following are true of deeds EXCEPT
they guarantee ownership.
Any limitations or reservations that a grantor intends to make part of a conveyance of real estate should be
included in the deed.
Which of the following would convey an owner’s interest in real property?
Deed
An individual who makes a claim to certain property, takes possession of it, and most important, uses it, and takes title away from an owner who fails to use or inspect the property for a period of years
has acquired the title through adverse possession.
The person who makes a will is called
the testator.
A valid deed must have
recital of consideration.
Title to property may be transferred without the owner’s consent by
involuntary alienation.
A form authorizing one person to execute documents for another is called
a power of attorney.
Eminent domain and escheat are two examples of
involuntary alienation.
The type of deed that imposes the least liability on the grantor is
a quitclaim deed.
A bank wants to convey title to a foreclosed property but does not want to give any title warranties or have any future claims or liabilities. Which type of deed should the bank use?
Quitclaim deed
