Term
|
Definition
| summary report of what the title search found in public record |
|
|
Term
|
Definition
| formal declaration before a notary public by a grantor that he/she is signing of free will |
|
|
Term
|
Definition
| method of obtaining title to property by occupying it contrary to the interests of the owner |
|
|
Term
|
Definition
| act of transferring ownership, title, or an interest in real property |
|
|
Term
|
Definition
| listing of all previous owners |
|
|
Term
|
Definition
| taking of private property for public purpose under eminent domain |
|
|
Term
|
Definition
| claim based on "unjust enrichment" (party performs labor or delivered materials without compensation) |
|
|
Term
|
Definition
| recording of a document that gives adequate "Notice to All" |
|
|
Term
|
Definition
| written instrument that conveys title to real property |
|
|
Term
|
Definition
| provision placed in deeds to control future uses of property |
|
|
Term
|
Definition
| the right to use another's property for a specific use |
|
|
Term
|
Definition
| gives government the power to take land from the owner through a legal process called condemnation |
|
|
Term
|
Definition
| unauthorized use of another's property |
|
|
Term
|
Definition
| reversion of property to the state when an owner dies without a will or known heirs |
|
|
Term
|
Definition
| covenant under a General Warranty Deed that guarantees the grantor will sign and deliver any legal documents that might be needed to make the title good in the future |
|
|
Term
|
Definition
| claim that may affect all of the properties of a debtor |
|
|
Term
|
Definition
| standard, full-protection deed- |
|
|
Term
|
Definition
| new owner receiving title |
|
|
Term
|
Definition
| provision in deed that specifies 1) names of parties involved, 2) words of conveyance, 3) description of property |
|
|
Term
|
Definition
|
|
Term
|
Definition
| tenant pays fixed rent and the landlord pays all other expenses (taxes, insurance, repairs, etc.) |
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
| 1) issued for unpaid mortgage amount, 2) protects lender against title defects, 3) unlike owners title insurance, lenders title insurance is transferable. |
|
|
Term
|
Definition
| claim on property for payment- |
|
|
Term
|
Definition
| a pending legal action (not a lien) |
|
|
Term
|
Definition
| typically commercial, the tenant pays a fixed rent plus property costs (maintenance and operating expenses) |
|
|
Term
|
Definition
| a list of any defects on the title and an attorneys opinion if the title is marketable. |
|
|
Term
|
Definition
| 1) issued for the total purchase price of the policy, 2) one-time premium is paid when issued, 3) the policy is not transferable. |
|
|
Term
|
Definition
| tenant pays rent based on gross sales received by doing business on leased property |
|
|
Term
|
Definition
| authority of the government to protect the property, life, health, and welfare of its citizens |
|
|
Term
|
Definition
| covenant under a General Warranty Deed that guarantees peaceful possession undisturbed by claims of title |
|
|
Term
|
Definition
| current owner (grantor) signs over to new owner all of his/her rights, title, and interest to the property |
|
|
Term
|
Definition
| conditions placed by developers that affect how land can be used in a subdivision |
|
|
Term
|
Definition
| seller gives buyer the right to "seize" the property |
|
|
Term
|
Definition
| claims that affect only the property designated in the lien |
|
|
Term
|
Definition
|
|
Term
|
Definition
| protects policyholder from losses arising from title defects |
|
|
Term
|
Definition
| examination of all public records to determine whether any defects exist on a title |
|
|
Term
|
Definition
| tenant pays specific rent increases as agreed upon |
|
|
Term
|
Definition
| covenant under a General Warranty Deed that guarantees the Grantor will forever warrant the Grantee's title against defect |
|
|
Term
| Deed conveys (transfers) what? |
|
Definition
|
|
Term
| Personal Representative Deed |
|
Definition
| person appointed by will or court to settle on behalf of a deceased person |
|
|
Term
|
Definition
|
|
Term
|
Definition
| a voluntary transfer of title from one private party to another |
|
|
Term
|
Definition
| a transfer of title from any level of government to a private party |
|
|
Term
| the three most important subcategories of public or governmental limitations on ownership of real property are |
|
Definition
| police power eminent domain taxation |
|
|
Term
| for a deed to be a valid competent |
|
Definition
| grantor and two witnesses must sign the instrument |
|
|
Term
| the sale contract does not specify the type of deed to be delivered use a |
|
Definition
|
|
Term
| the process of taking property under the power of eminent domain is called |
|
Definition
|
|
Term
| the purpose of recording a deed is to |
|
Definition
| give constructive notice of ownership |
|
|
Term
| the provision in the deed that names the parties and contains the granting clause is the |
|
Definition
|
|
Term
| when a lis pendence is filed properly with the County Clerk it becomes a type of |
|
Definition
|
|
Term
|
Definition
| C-consideration E-execution D-description of property D-delivery and acceptance I-interest or estate being conveyed N-names of grantee and grantor G-granting and the other appropriate clauses CEDDING |
|
|
Term
|
Definition
| I have the right to sell have no responsibility on title |
|
|
Term
|
Definition
|
|
Term
|
Definition
| all members of the committee must sign fiduciary disclosure stating that they are working with your best interest in mind |
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
| recipient of real property |
|
|
