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19 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Owner/ grantor |
The person who is conveying an interest in the land to someone else |
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Decedent |
A dead person |
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Testate and Intestate |
A decedent who dies testate has a will. One who dies without a will is considered intestate |
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Heirs |
People who inherit real property from a decedent who did not have a will. Identified by statute in each state. Usually goes to,spouse or children. But can go to grandchildren parents or siblings if no spouse or children. Living people do not have heirs only heirs apparent |
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Devise and Devisees |
To devise is to pass real property by will. The person receiving the property is a devisee. Devisees Re beneficiaries under a will. Will dies not create any interest until testator dies. |
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Bequest and Bequeath |
To bequeath is to pass personal property down through a will. The personal property is called a bequest. |
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Issue |
A person's lineal descendants all the way down the line. Includes children grandchildren and all lineal descendants until the bioogical line dies out. |
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Ancestors |
A person's biological forebearers including parents, grand parents and all other lineal forebearers. |
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Collaterals |
All blood relatives other than issue or ancestor. Includes cousins siblings nieces aunts uncle nephews. |
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Escheat |
When a decedent has no heirs or divisees the interest of the land "escheats" (passes) to the state. |
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Convey(ance) |
Person conveys land when that person transfers it to some one else. The land can be conveyed by sale or by gift. The transaction is a conveyance. |
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Fee simple |
Most common possessory estate. It has no inherent ending and does not end naturally. Owner can keep estate forever. Sell or gift it to someone else who can keep it forever. Devise it to someone to keep forever. If they die intestate their heirs inherit the land. Any future owners have same privileges of previous owner. |
If you see the words and his or her heirs in a conveyance you will know that the estate being conveyed is a fee simple. |
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Words of Purchase |
Words to the grantee. They tell you who is receiving the interest. Identify the grantee. They do not tell you what kind of estate A is receiving. |
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Words of limitation |
Tell you what kind of limitation (of any) is inherent in the estate. Tell you whether the estate will end naturally and if so when. |
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"And his/her heirs" |
Fee simple |
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And the heirs of his/her body |
Fee tail. |
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Vested Subject to open |
Given to a class of people and that class could grown |
"To A's Children" A is still alive. It means they can have more children. |
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Gestation Rule |
Child is alive from the time the child is conceived. |
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The unborn widow |
No living person may have a widow or widower. |
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