Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

A-3 Chapter 3 Title Transfer and Title Insurance > Vocabulary for Title > Flashcards

Vocabulary for Title Flashcards

1
Q

the loss of land due to sudden and violent acts of nature

A

Avulsion

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

a sworn statement that identifies the Grantor, Grantee and states the value of real property; must be signed by both and notarized; buyer records through title company

A

Affidavit of Value

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

acquiring title to real property due to continuous, open and hostile use for a prescribed length of time; involuntary alienation; prescription; owns title, not just use

A

Adverse Possession

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

an individual appointed by the court to handle the estate of a party who dies without a will

A

Administrator

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

facts that are known to be true, actual, knowledge

A

Actual notice

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

signing a legal document before a Notary Public or other authorized person

A

Acknowledgement

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

the gradual build up of land by wind or water

A

Accretion

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

a clause in a loan document calling for the entire balance due and payable when property is sold

A

Alienation Clause

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

when there is no deed or possession; might be a history with a book of copies; lowest claim of Title; and attorney’s opinion after looking over the record

A

Abstract of Title

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

person to person transfer of title

A

Actual Notice

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

the settling of estates by probate after death

A

Administrators Deed

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

signed and witnessed affidavit of value, part of all recorded deeds; helps assessor to assign property tax

A

Affirmation of Value

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

what the notary signs, saying they witnessed the signing and that this is the signature of the person

A

Attest

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

a conveying deed that has 3 covenants but no warranties; frequently used in an operation of law such as Sheriff’s Sale, Trustee, Executor or Treasurer’s deeds

A

Bargain and Sale Deed

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

leaving personal property to an heir through a will; does not apply to real property

A

Bequest

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

a document showing transfer of private property

A

Bill of Sale

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

a conveying deed that is used to transfer real property to ones heirs without going through probate

A

Beneficiary Deed

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

an amenment to a formal will

A

Codicil

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

title that appears valid but due to a hidden fact is actually void

A

Color of Title

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

a term used when a document is recorded or printed in a public document

A

Constructive Notice

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

transfer of title to real property, evidenced by a deed

A

Conveyance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

a deed that corrects an error on a previously recorded deed

A

Correction Deed

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

a promise made between two or more parties usually pertaining to contracts and deeds

A

Covenant

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

promise in a deed by grantor for the protection of grantee, usually found in B&S deeds and Warranty deeds

A

Covenants in a Deed

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

the Grantor promises that he has possession of the property and has the right to convey it

A

Covenant of Seizin

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

a promise that the grantee has the highest claim to ownership

A

Covenant of Quiet Enjoyment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

the Grantor promises that he has revealed all items that burden the property

A

Covenant against Encumbrances

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

this general category includes bargain and sale, special warranty and warranty deeds

A

Conveying Deeds

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

the recorded history of title on one property

A

Chain of Title

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

any document , claim, unreleased lien or encumbrance that casts doubt on the title

A

Cloud on Title

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
31
Q

both parties must be required to do something; most contracts require $$ value and this is called valuable….

A

Consideration

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
32
Q

transfer of title using a deed

A

Conveyance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
33
Q

a document signed by either party to disavow any interest in a property; denies a community interest so used with a husband and wife

A

Disclaimer Deed

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
34
Q

the conveyance of real property through a will

A

Devise

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
35
Q

one who receives property through a will

A

Devisee

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
36
Q

the person who transfers real property through a will

A

Devisor

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
37
Q

distribution of property to heirs when one dies intestate with heirs but no will; subject to probate

A

Descent

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
38
Q

the legal written document used to transfer ownership of real property; must have competent and identifiable grantor, granting clause, legal description, legal consideration, acknowledge signature by grantor and delivery to grantee

A

Deed

39
Q

must be done during the grantor’s lifetime and can be done “actual” or through a third party like a title company

A

Delivery of Deed

40
Q

the method used to show one’s proof of ownership

A

Evidence of Title

41
Q

the gradual wearing away of the soil by acts of wind or water

A

Erosion

42
Q

a written will that is signed and witnessed; aka conventional

A

Formal Will

43
Q

the person who conveys an interest in real property via deed

A

Grantor

44
Q

the person who receives an interest in real property via a deed

A

Grantee

45
Q

the transferring of real property by a deed

A

Grant

46
Q

the words in a deed that state “I hereby grant and convey”

A

Granting Clause

47
Q

love and affection in exchange for real property

A

Good consideration

48
Q

a deed that is conveyed with love and affection as the consideration

A

Gift Deed

49
Q

a conveying deed in which the grantor states that he or she will forever guarantee the title of real property; 3 covenants, 2 warranties; highest and best

A

General Warranty Deed

50
Q

“to have and to hold”; might convey a part and not whole;sets forth or limits the interest in the title

A

Habendum Clause

51
Q

a will written and signed but not witnessed

A

Holographic Will

52
Q

a person who dies without a will

A

Intestate

53
Q

the transferring of ownership against one’s will; can be by natural causes or by operation of law

A

Involuntary alienation

54
Q

money or personal property left to another through a will

A

Legacy

55
Q

one who receives money or personal property though a will

A

Legatee

56
Q

one who gives money or personal property through a will

A

Legator

57
Q

the lawful claim to ownership

A

Legal Title

58
Q

an extended coverage or BROAD form coverage of Title Insurance policy purchased for the Lender; is assumable; void after loan is paid; does not insure against gaps in title or items in public record; does insure against questions of survey, mechanics liens and parties in possession

A

Lender’s Policy

59
Q

an ancient ceremony of handing over title, sometime using real soil

A

Livery of Seizen

60
Q

an oral will that is witnessed like a deathbed autterance ; not used in AZ

A

Nuncupative Will

61
Q

a Title Insurance policy purchased for the benefit of the buyer; valid as long as buyer owns property; not transferable upon future sale; protects against hidden defects (forgery), incorrect status or title company error

A

Owner’s Policy

62
Q

The instrument used by a Sovreign Power to transfer real property to an individual

A

Patent Deed

63
Q

an appointed individual authorized to settle an estate

A

Personal Representative

64
Q

use of land that is adverse but lawful

A

Prescription

65
Q

a court action to remove a cloud on title and create marketable title

A

Quiet Title Suit

66
Q

A deed which releases any or all interest one may have in real property; this deed stops something; often used to remove cloud on title; releases interest, does not convey title

A

Quit Claim Deed

67
Q

the gaining of land due to subsidence of water of a non-naviagable stream

A

Reliction

68
Q

deed given by sheriff at the completion of a mortgage foreclosure sale

A

Sheriff’s Deed

69
Q

a conveying deed in which the grantor guarantees the title of real property only as long as he has owned it; 3 covenants, 1 warranty; limiting liability

A

Special Warranty Deed

70
Q

having dies with a will; requires probate

A

Testate

71
Q

a deed given by the trustee to convey property out of trust; a bankruptcy sale would use this deed; also a trustees sale

A

Trustees Deed

72
Q

the party who signs the Trust Deed; the borrower in a trust deed

A

Trustee

73
Q

the legal proof of real property ownership

A

Title

74
Q

insurance in a real estate transaction that protects the parties against Trust defects

A

Trustee Insurance

75
Q

a registration system that accurately determines ownership and claims to real property; not used in AZ which uses Title Insurance

A

Torrens System

76
Q

something of monetary value given in exchange for real property

A

Valuable Consideration

77
Q

the grantor guarantees forever the title conveyed

A

Warranty Forever

78
Q

the grantor promises to deliver all necessary documents in order to convey clear title; to perfect the title when necessary

A

Warranty of Further Assurance

79
Q

an unrecorded document that creates a gap in the chain of title

A

Wild Deed

80
Q

quit claim, disclaimer, correction and fiduciary deeds are this kind of deed

A

Releasing Deed

81
Q

is recordation of deed mandatory?

A

No but it enforces it and established chain of title

82
Q

this trumps a recorded deed with no possession

A

Possession with unrecorded deed

83
Q

these are not insured with any Title Insurance

A

Gaps in Chain of Title or Items in Public Record

84
Q

an exchange of right of title for money

A

Subrogation

85
Q

a person who researches public record, tells the status of title and produces a preliminary title report

A

Title Examiner

86
Q

a place that holds all title notices, reports etc

A

Title Plant

87
Q

a commitment to title with schedule A and B

A

Preliminary title report (PTR)

88
Q

involuntary due to nature; examples are accretion, alluvial deposits, reliction

A

Acquisition of land

89
Q

deposits of dirt

A

Alluvial deposits

90
Q

gaining dirt through receding waters only if navigable in AZ

A

Reliction

91
Q

involuntary alienation by property tax foreclosure

A

Treasurers Deed

92
Q

involuntary alienation with no will or no heirs; held by county; goes to state after 5 years due to abandonment

A

Escheat

93
Q

involuntary alienation due to government; must provide fair compensation

A

Eminent Domain

94
Q

continuous adverse possession by different owners; owner A= 3 yrs; owner B=3 yrs; owner c=6 yrs; combined = 10 years

A

Tacking

A-3 Chapter 3 Title Transfer and Title Insurance (1 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions