Unit 7 Transfer Of Title

Question 1

The right to for ownership of land, and can also be evidence of that ownership is a?

Answer 1

Title

Question 2

The transfer of the title to real estate by gift or sale during one’s life, using some form of a deed. To create a valid deed, the great war person who transfers the title must be of legal age in legally competent to execute or sign the deed. A deed executed by minor is voidable the grantee must be identifiable with a signature. This is known as?

Answer 2

Voluntary alienation

Question 3

A deed can only signed/executed by the ?

Answer 3

Grantor

Question 4

Delivery of the deed and acceptance by the grantee to pass title are the requirements for a

Answer 4

Valid Deed

Question 5

Habendum Clause; when it is necessary to define or explain the ownership to be enjoyed by the grantee, habendum clause may follow the granting clause. Addendum class begins with the words

Answer 5

To have and hold

Question 6

This type of power of attorney is created only for specific act or acts. It is the only power of attorney allowing home purchasing. What type a power of attorney are we referring to?

Answer 6

Special power of attorney

Question 7

This is a formal declaration under oath that the person who signed a written documentation does so voluntarily and that the signature is genuine with a notary republic to verify the individuals identity. This is known as?

Answer 7

acknowledgment

Question 8

A title is not considered transferred into the deed to the property is actually delivered to an excepted by the?

Answer 8

Grantee

Question 9

General warranty deed
Special warranty deed
bargain and sale deed
quitclaim deed

Types of

Answer 9

Deeds

Question 10

General warranty deed provides the greatest

Answer 10

Protection to the bar because the grantor is legally bound by certain covenants or warranties

Question 11

This type of the contains two basic warranties one the grantor receive the title. That the property was not encumbered during the time the route or held the title, except as otherwise noted in the deed. What type of deed is being referred?

Answer 11

Special warranty deed

Question 12

This type of deed warranties covenant against encumbrances further assurance, quiet of enjoyment and a basic warranty forever. What type of deed is this?

Answer 12

General warranty

Question 13

This type a D contains no express warranties against encumbrances, but it does imply that the grantor holds title in possession of the property. What type of deed is this?

Answer 13

Bargain and sale deed

Question 14

This type of deed provides a grantee with the least protection of any deed. It carries no no convenants or warranty and generally conveys only whatever interest the grantor may have when the deed is delivered. What type of deed is this?

Answer 14

Quitclaim deed

Question 15

One, Common characteristic of deeds executed pursuant to court order his that the full consideration is usually stated in the deed. Instead of “$10 and other valuable consideration” for example, the deed would list the

Answer 15

Actual sale price

Question 16

Involuntary transfers are usually carried out by operation of law. ( such as condemnation, foreclosures of mortgage loans, or a sale to satisfy delinquent taxes or mortgage liens. These are all examples of

Answer 16

Involuntary alienation

Question 17

The acronym nacho; 
Notorious-known by others . Adverse - against the true owners right of possession 
Continuous-uninterrupted
Hostile-without the true owner's consent
Open-obvious to anyone who looks

Usually the possession by claimant must have the NACHO. This is referring to what type of possession

Answer 17

Adverse possession

Question 18

When a person dies ownership of real estate passes to
A. the co-owner by virtue of joint tenancy with right of survivorship or a tenancy by entirety he.
B.The party or parties name in the Valid will.
C. The statutory errors determined by the states law of decedent and distribution.

When the title passes by Will or descendent, the estate must go through a judicial process called

Answer 18

Probate

Question 19

The gift of real property by Will is known as device, and a person who receives real property will be known as

Answer 19

Devisee