Term
A party in a deed who relinquishes interest in real property is called:
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Definition
| The party relinquishing interest in real property in the deed is called the grantor. The grantee is the recipient of the interest in real property in a deed. |
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Term
Which of the following are generally considered essential for a deed to be effective?
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Definition
| Many states vary in statutory requirements for a valid conveyance. However, the naming of a competent grantor in the deed and the requirement of the deed being in writing are generally required in all states. |
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Term
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Definition
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Term
Normally, a deed will be considered valid even if:
I. The grantor's signature was signed by another pursuant to the authority granted by a power of attorney.
II. The grantor lacked legal capacity.
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II only
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I only
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Neither I or II
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Both I and II
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Definition
| A deed is considered valid if signed by another pursuant to the authority granted by a power of attorney. |
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Term
A valid deed must contain:
I. The signature of the grantor.
II. The signature of the grantee.
III. A granting clause.
IV. An acknowledgment.
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Definition
| A valid deed must contain the signature of the grantor and a granting clause. |
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Term
Broker Smith owns residential property and desires to convey ownership interest in the property to his son. Broker Smith may:
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Definition
| The preparation of the deed is a legal undertaking and should be done only by an attorney or officer of the court. |
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Term
Concerning a valid conveyance, which of the following statements is correct?
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Definition
| The conveyance is not valid since the power-of-attorney is only valid during the lifetime of the grantor. |
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