Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
37 Cards in this Set
- Front
- Back
involuntary alienation
|
individual relenquiches title to real property against their will
|
|
voluntary alienation
|
valid deed delivered by the grantor to the grantee while both are alive.
|
|
deed/conveyance
|
document used to convey title legally to real property.
|
|
Essential elements of a valid deed:
|
in writing, mentally competent grantor, 18 yo., competent or incompeternt grantee, grantor named with certainty, grantee alive, adresses, description of property, consideration, words of conveyence, execution, acknowledgement, delivery and acceptance
|
|
grantor
|
person conveying the title
|
|
grantee
|
the person receiving the title
|
|
consideration
|
something of value
|
|
words of conveyence
|
grantors intention to transfer title to grantee.
"has given, granted, bargained, sold.." OR "grants and releases" |
|
habendum clause
|
describes the estate granted and always must agree with the granting clause.
"to have and to hold" |
|
execution
|
signed by grantors only...grantee signs if assuming a mortgage
|
|
acknowledgement
|
Grantor appears before public officer...signing the deed was a voluntary act.
|
|
delivery and acceptance
|
grantor delivers and grantee accepts
|
|
Forms of deeds:
|
Full covenant and warranty deed, bargain and sale deed, quitclaim deed, judicial deed
|
|
Covenents
|
of seisin (has title), of right to convey (legal/has title), against encumbrances (no others), quiet enjoyment (no defect in title), further assurances (correct defect), of warranty** (grantor will defend the title against claims)
|
|
Bargain and sale deed
|
Implied representation on thepart of the grantor that she has a substantial title and possession of the property. May or may not have warranty!!
|
|
quitclaim deed
|
no warranties! releases/conveys to the grantee interest.mostly used to remove a cloud
|
|
referee's deed
|
court ordered judicial deed
|
|
Property descriptions are:
|
metes and bounds, reference/lot and block/plat, or monument
|
|
metes and bounds (land surveyor)
|
metes-distance from A to B
Bounds- direction from A to B |
|
reference to a plat
|
refers to a map and lot number as part of recorded subdivision
|
|
Methods of transfering title are _______descent or ________descent, ______by deed, or _________posession.
|
Intestate , testate, dedication, adverse
|
|
Intestate descent (if no will)
|
spouse, kids, parents, siblings...
|
|
testate descent (has will)
|
executor/executrix carries out wishes
|
|
probate
|
judicial determination of validity of will
|
|
Gifts:
devise---> bequest--> |
devisee (real prop)
beneficiary/legatee (pers. prop) |
|
Formal/witnessed will
|
signed by testator with 2 witnesses
|
|
holographic will
|
written in handwritting of the peron whose signature it bears. no witness neededd.
|
|
oral/nuncupative will
|
only valid for armed forces during war or at sea..peronal prop.
|
|
codicil
|
supplement or addendum to will to add/change some bequest
|
|
dedication
|
land or easement to land is given for use by public. statutiry or common law (can be express/implied)
|
|
dedication by deed
|
quitclaim deed giving a parcel of land to a municipality.
|
|
public grant
|
grant of power, license, or real property to a private individual(s). conveyed with a land patent
|
|
adverse possession
|
possession without permission for 10 continuous years and reasonable legal basis
|
|
accretion
|
land built up pver water by sand, silt or gravel
|
|
avulsion
|
land loss by sudden change in watercourse (doesn't change boundary line)
|
|
reliction
|
increase in land by water receeding
|
|
right of accession
|
owner keeps all land produces and has
|