Unit 6: Transfer Of Title Flashcards
Title
The right to or ownership of the land; it represents the owners bundle of legal rights.
It also serves as evidence of that ownership
What is voluntary alienation?
The legal term for the transfer of title during the property owners lifetime.
(Owner chooses to transfer title by making it a gift or by selling it)
What is a deed?
A document by which an owner of real estate conveys the right, title, or interest owned in the parcel of real estate to some else.
When it comes to a deed what does the statute of frauds state?
That all deeds must be in writing
The owner who transfers the property is referred to as the…..
Grantor
The person who receives the property is called the….
Grantee
What are the requirements for a valid deed?
Grantor
Grantee
Statement of consideration
Granting clause- conveyance
Habendum clause
Legal description of the property
Delivery & Acceptance
To be valid a deed must…
Be signed by a grantor
Name a grantee
A deed executives by a minor is generally…
Voidable
What is a granting clause?
Words of conveyance that states the grantors intention to convey the property.
“I.E I, Allison Klein, revise, release, alienate, and convey”
What is a habendum clause?
When it is necessary to define or explain the ownership to be enjoyed by the grantee.
The Habendum clause begins with the words…
To have and to hold
What is an acknowledgement?
A formal declaration under the oath that the person who signs a written document does so voluntarily and that the signature is genuine.
Made before a notary public.
A ________ is not considered transferred until the deed to the property is actually delivered and accepted but the grantee
Title
Title is said to pass when a deed is…
Delivered and accepted.
