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Definition
Section of a deed that names the parties to the deed and the date of the deed.
Premises contains the Granting Clause.
Necessary words used to convey the property; grants, bargains and sells. |
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The type of interest and rights to be enjoyed by the grantee or lessee
To have and to hold; forever for fee simple, for the life, for life estate. |
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Definition
| promise that the grantor owns the property and has the right to convey title |
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Term
| Covenant against encumbrances |
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Definition
the property is free from liens or other emcumbrances except as noted in the deed.
Give the Grantee notice of all emcumbrances associated with the property |
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Definition
Statutory Deed
A type of deed that will effectively convey any present interest, claim or title to real property tyhat the seller(grantor) may own.
Utilizes verbage remise, release and quitclaiml. |
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Definition
Statutory Deed
A type of deed in which title is transferred and a limited number or warranties are made respecting title to or use of the property.
Out of state property owner selling property at auction.
Seller does not purchase title insurance. |
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Statutory Deed
Deed in which grantor (seller) does not warrant the title in any way or manner except against acts by the grantor or the grantor's rep.
Only assumes title for the periods property was owned by the lender.
Foreclosure |
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Statutory Deed
An instrument of conveyance containing the strongest and most comprehensive promises of further assurance possible for a grantor (seller) to convey to the grantee (buyer)
Quite Enjoyment peaceful possession undisturbed by claims against title
Further Assurance guarantee title in future.
Warranty Forever. |
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Definition
| Benefits an adjacent parcel of land. allows owner of neoghbors property right to cross |
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Definition
Benefits individual or business and is not related to adjacent parcel.
Utility Easement |
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Definition
| allow property owners to enter and exit land locked property. |
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Term
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Definition
| Longtime usage.20 years of open and continuous use. |
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Term
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Definition
| unauthorized use of anothers property. Fence or garage beyond boundary without consent |
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Definition
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Term
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| Tenant pays fixed rent plus building expenses |
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| Rent based on gross sales of tenant |
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| Rent will change graduated at set times based on an index |
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Definition
| Long term lease on the land. Tenant may erect a building |
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Term
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Definition
Mortgage Lien - Bank
Vendor's Lien - Purchase Money Mortgage from Vendor so Vendee can purchase property |
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| Involuntary Liens w/o consent |
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Definition
Judgement Lien
Property Tax Lien
Federal Income Tax Lien
Special Assessment
State Intangilble Tax Lien
Construction Lien
Estate Tax Lien |
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| Involuntary Liens w consent |
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Definition
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Term
| Deed Voluntary Alienation |
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Definition
| written instrument used to convey an interest in real property |
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Term
| Will Voluntary Alienation |
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Definition
Testate, indicates the decedent prepared a will before death and conveyed property according to such will
Gift of real property is a DEVISE recipient is DEVISEE |
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Definition
| Transfer of title from any level of government to a private party whether by patent, deed or other conveyance. |
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Definition
| A person who holds vested ownership rights in property. |
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Term
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Definition
| Beneficial interest in real estate that implies that an individual will receive legal title at a future date. |
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Term
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Definition
| The act of transferring ownership, title or an interst in real property from one person to another whether voluntary (with owners control and consent, Deed or Will) or involuntary. |
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Definition
| indicates decedent prepared a will before death. |
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Term
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Definition
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Term
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Definition
| Recipient of real property gift. |
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Term
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Definition
| Gift of personal property |
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Term
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Definition
| Recipient of personal property gift. |
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Term
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Definition
Dies without a will
Property passes to decendants known as heirs. |
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Definition
| Government takes property of an owner that dies intestate without heirs. |
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Term
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Definition
True owner fails to maintain possession and property is siezed by another.
HOTCAN
Hostile Possession - without owners permission.
Open Possession - no attempt to conceal
Taxes - Paid on property by possessor.
Claim of Title - even if imperfect
Adverse Possession for at least 7 years
Notorious and flagrant possession. |
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Definition
| Right to take land from an owner through legal process know as comdemnation as long as it is for public purposes. Involuntary Alienation |
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Term
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Definition
| Direct knowlege acquired in the course of a transaction. Verbal conyenance of lien on property is considered actual notice. |
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Term
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Definition
| AKA - Legal Notice. Recording the information in pubilc record. |
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Term
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Definition
| Actions Pending - Notice recoreded in public record (constructive notice) of a pending legal action that involves real estate. |
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Term
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Definition
| Complete successive record of a property's ownership. |
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Term
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Definition
examination of all of the pubilc records to determine whether any defects exist in the chain of title.
Root of title limited to 30 years. |
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Term
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Definition
| Summary report of what the title search found in the public record. |
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Term
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Definition
| contract that protects the policyholder from losses arising from defects in the title. |
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Term
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Definition
| Issued for the total purchase price. One time premium and is not transferrable. |
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Term
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Definition
| Issued for unpaid mortgage amount. Assignable to the new mortgagee. |
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Term
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Definition
| Written instrument that conveys title to real property. |
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Term
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Definition
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Term
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Definition
New owner receiving title
Buyer |
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Term
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Definition
CEDDING
Comsideration Value or Good
Execution (signed by competent grantor and two witnesses)
Description of Property
Delivery and Acceptance Voluntary
Interset or estate being conveyed (Habendum Clause)
Names of Grantee and Grantor
Granting and other appropriate clauses. |
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Term
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Definition
Deeds that provide a short form of deed in which covenants or warranties mentioned are implied to exist just as if they were writtne out in complete detail.
Quitclaim
Bargain and Sale
Special Warranty
General Warranty |
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Term
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Definition
Owner my be unable to sign deed.
Personal Rep Deed
Guardian's Deed
Committee's Deed |
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Term
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Definition
Government - PET
Police Power
Eminent Domain
Right of Taxation
Private - DELL
Deed Restrictions
Easments
Leases
Liens |
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Term
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Definition
| Broadest Power of Government to limit or regulate property owners. Zoning, Codes and Standards. |
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Term
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Definition
Most common and broadest restriction to private proerty owenship. Restrict particular property.
Restrictive Conenants affect entire sub. |
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Term
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Definition
Names and Signatures
Legal Capacity of Lessor and Lessee
Consideration
Term of Tenancy
Property Identification. |
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Term
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Definition
| Occurs when a lessee (tenant) assigns to another person all of the remainder of the lease. |
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Term
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Definition
| Another is let part of an existing lease. |
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Term
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Definition
| Holder of a prior lien (Lien with an earlier date) agress to allow a junior lien holder's interest to move ahead of the prior lien. |
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Term
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Definition
| The formal decaration before a notary by teh grantor that the signing is a free act. |
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Term
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Definition
| A legal writ obtained to prevent removal of property that is expected to be used to satisfy a judgement. |
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