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51 Cards in this Set
- Front
- Back
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Transferring real property from one person to another |
Alienation |
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A way of referring to ownership, not an actual printed document |
Title |
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The printed document that conveys ownership |
Deed |
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The transfer of real property through a will |
Devise |
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The conveyance of real property to someone for a certain period of time) such as a lease) |
Demise |
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Individual making a will |
Testator |
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Transfer of personal property by a will |
Bequeath |
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A will that is written, dated and signed in the testators handwritting but not witnessed |
Holographic will |
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A supplement to a will that does not revoke the original |
Codicil |
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An oral will and usually done when a person is near death |
Nuncupative will |
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Using a property without the consent of the owner |
Adverse possession |
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Statutory time period for adverse possession |
10 years |
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The adverse possessor can make a claim for |
Ownership |
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In a easement by prescription the only claim can be for |
Use |
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If a person dies without a will or heirs the property is dispersed according to |
Laws of descent |
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A contract is not valid unless you have a |
Legal description |
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Title passes upon |
Delivery and acceptance of the deed |
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Occurs when the transaction is recorded |
Closing |
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The only signature required on the deed |
The grantor |
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Who acknowledges a deed |
A notary |
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What does the tee acknowledgement mean |
Signers are properly identified Signing without duress |
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What are two exceptions to contracts being in writing |
Broker to broker agreements Leases less than one year |
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When must a deed be signed by the grantee |
When taking title as WROS |
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What are the two types of consideration |
Valuable-money, gold, silver Good-love and affection |
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When does the title pass |
Upon delivery and acceptance of the deed |
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Mechanics liens must be filed in what time frame |
Within 120 days of competition of the job and revert back to when the first person was on the job |
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Document that accompanies the deed to the recorders office |
Affidavit of property value |
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What does the Chain of Title list |
Previous owners, not liens and encumbrances |
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What doc, not used in AZ, lists the previous owners and liens and encumbrances |
Cert of title |
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The act of recording gives what kind of notice |
Constructive or legal notice |
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The succession of property owners is called |
Chain of title |
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The best evidence of marketable title is |
Title insurance policy |
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If the chain of title is broken it is called |
Gap in chain |
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The best deed for a grantee to have |
General warranty deed |
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What type of deed is given at a mortgage foreclosure sale |
Sheriffs deed/bargain and sale deed |
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What type of deed offers no protection |
Quitclaim deed |
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What type of deed must a spouse sign if the other spouse wants to buy property as sole and separate |
Disclaimer deed |
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What type of deed offers only implied warranties |
Bargain and sale |
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What type of deed imposes the most liability on the grantor |
General warranty deed |
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Providing that the person who signs a deed signed it voluntarily and is in fact who he says he is |
Acknowledgement |
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Receiving something of value in exchange for real property |
Valuable consideration |
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The act of transferring ownership from one person to another |
Alienation |
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The proper recording of a document gives |
Constructive notice |
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A gift of land to the public |
Dedication |
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What are four methods of transferring title |
Voluntary, involuntary, will and descent |
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What are 2 ways to give notice of ownership of land |
Recording the docs in a public record Visibly occupying the land |
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What type of deed would you receive at a tax foreclosure sale |
Treasurers deed |
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The typical wording in a habendem clause would be |
To have and to hold |
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The law that requires the deed to be in writing is called the |
Statute of frauds |
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The guarantee of the grantors ownership is called |
Covenant of seisin |
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What type of notice is provided by the recording of a deed in the public record |
Constructive notice/ legal notice |
