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29 Cards in this Set
- Front
- Back
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Special warranty deed |
Remise release alienate convey |
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Bargain and sale |
Not used in wv -doesn't contain a warranty it's implied not expressed (written) |
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Quit claim deed |
No express (written) warranty not implied just used to fix clerical administrative errors |
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Deed final |
After delivery and acceptance |
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Bargain and sale deed |
Granting clause contains grants bargains sells grants and releases |
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Gift deed |
Needs signature of grantor (trick question) |
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Deed of trust |
Frequently called mortgages wv |
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Lien |
Financial encumberance |
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Deed of trust |
Trustor is borrower- trustee is appoints by lender- beneficiary is lender (bank) |
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Reconveyance deed |
When you pay back loan from deed of trust bank reconveys deed back to you they release the deed of trust |
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Trustees deed |
If you trustor didn't pay back your loan the bank sells your deed off |
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Deed executed pursuant according to court order |
Convey title of property by court order or will |
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Def executed by court order |
Would list actual amount of price |
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Transfer tax |
Normally paid by seller |
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Involuntary alienation |
Title transfer without owners permission |
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Adverse possession |
Continous hostile open for prescribed period -take possession of property from owner |
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Abstract of title |
Summary of all info for marketable title you need an opinion letter |
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Action to quiet title |
Link missing in chain judge fixes it |
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Actual notice |
Thats my house |
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Certificate of title |
Attorneys opinion letter |
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Constructive notice |
Recording document at courthouse |
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Financing statement |
UCC 1 combining real and personal property for financing |
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Inquiry notice |
Further investigation you can't find at courthouse |
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Marketable title |
Saleable |
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Security agreement |
Goes hand in hand wih ucc1 |
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Subrogation |
Insurance company to go get anyo causing harm |
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Suit to quiet title |
Judge eliminates action to quiet title |
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Title insurance |
Most common proof of ownership |
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Torrens system |
3rd method of marketable title |
