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19 Cards in this Set

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  • Back
What is the definiton of a Deed?
It is the instrument by which title is transferred. The original K for sale is merged into the deed. Deed becomes binding instrument (i.e. anything left out of the deed is unenforceable)
What are the types of Deeds?
1. Warranty Deed
2. Quitclaim Deed
What is a Warranty Deed?
A deed that conveys one or more of the covenants of title.
What is a Quitclaim Deed?
It doesn't convey any covenants, it merely conveys any right grantor has in property. (Common Law release)
What are the necessary elements of a Deed?
1. IDENTIFICATION of the parties
2. Grantor's SIGNATURE
3. Present INTENT to convey
4. DESCRIPTION of the land
What happens if the grantor's signature is forged?
The deed is invalid
What is some of the language you should look for to show the INTENT to convey?
"I hereby grant and convey", "I convey", or "I grant". Some still use "bargain and sale" language.

Note: Avoid testamentary language like "I Leave To..."
What are the types of clauses of transfer?
1. Habendum
2. Reddendum
What is a Habendum Clause?
It limits the estate conveyed "to have & to hold" language.
What is a Reddendum Clause?
It includes any reservations the graantor wishes to retain.
When is the description of the land, in a deed, sufficient?
If the particular tract at issue matches teh description and no other property could match it.
What are the types of Descriptions of land?
1. Metes & Bounds
2. Plat or Map
3. Rectangular Survey System
Define the Metes & Bounds type of description.
Describes the shape and location of land from a starting point readily identified (landmarks and/or monuments) and uses distance and angles to trace boundaries back to the starting point. (MUST CLOSE)
What is the hierarchy of landmarks used in Metes & Bounds descriptions?
1. Natural Monuments (trees, rivers, lakes)
2. Artificial Monuments (highways, bldgs, markers)
3. Adjacent tracts or boundaries
4. Courses of directions
5. Distance
6. Quantity of Area
7. Place names
What is a Plat or Map description?
A recording map or diagram of parcel where lots of lots located, once approved recorded (must be done by P.S.)
How can owner indicate an easement on a Plat or Map?
If the owner desires to establish easements/restrictions, he can do so by indicating the same on teh plat and by spelling out the easements and restrictions by legends on the plat.
What is the Rectangular Survey System description method?
It is based on square townships (1x1 squares), six miles on a side, and square sections described according to range and township. They are numbered starting at top right, snakes.
What are the elements of the execution of the deed?
1. Signed by Grantor
2. Attestation (witnesses)
3. Delivery
Is an undelivered deed void?
Yes, an undelivered deed is void and passes no title to teh grantee or his successors even if they are bona fide purchasers.