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Definition
| Right to ownership of the land; it represents the owner's bundle of legal rights. Also serves as evidence of ownership. |
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Term
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Definition
| Legal term for the transfer of title during the property owner's lifetime. |
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Term
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Definition
| Document by which an owner of real estate conveys the right, title, or interest owned in the parcel of real estate to someone else. |
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Definition
| The owner who is transferring property. |
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Term
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Definition
| The person receiving the property from a Grantor. |
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Term
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Definition
| Words or conveyance in a deed that states the grantor's intention to convey the property. |
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Term
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Definition
| May follow the granting clause in a deed. Begins with the words "to have and to hold." |
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Term
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Definition
| Formal declaration under oath that the person who signs a written document does so voluntarily and that the signature is genuine. |
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Term
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Definition
| Provides the greatest protection to the buyer because the grantor is legally bound by certain covenants or warranties. |
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Term
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Definition
Contains two basic warranties:
1. That the grantor received title.
2. That the property was not encumbered during the time the grantor held title, except as otherwise noted in the deed. |
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Term
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Definition
| Contains no express warranties against encumbrances, but it does imply that the grantor holds title and possession of the property. |
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Term
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Definition
| Provides the guarantee with the lease protection of any deed. It carries no covenants or warranties and generally conveys only whatever interest the grantor may have when the deed is deliveredd |
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Term
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Definition
| The means by which a trustor conveys real estate to a trustee for the benefit of a beneficiary. |
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Term
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Definition
| Used by a trustee to return title to the trustor. |
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Term
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Definition
| Deed executed by a trustee. |
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Term
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Definition
| Payable when the deed is recorded. |
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Term
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Definition
| Title transferred without the owner's consent. |
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Term
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Definition
| Die without a valid will. |
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Term
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Definition
| Another form of involuntary transfer. An individual makes claim to a property, takes possession by excluding the true owner. |
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Term
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Definition
1. Open
2. Notorious
3. Continuous
4. Hostile
5. Adverse |
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Term
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Definition
| Formal judicial process where successor of property is recognized, claims against the property will be satisfied, etc. |
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Term
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Definition
| The gift of property by will. |
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