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36 Cards in this Set

  • Front
  • Back
Mortgage Lien
specific voluntary
Mechanics Lien
specific involuntary
Confession of Judgment
amicable judgment; explanation of rights
satisfaction of judgement
filed when property is sold to satisfy a judgement
attachments
court retains custody of property to prevent debtor from conveying it while court suit is being decided
Lis Pendens
notice in public record of a possible future lien against a parcel of real estate as a result of a lawsuit
Federal Estate & State Inheritance Taxes
General, Involuntary
Municipal Utilities
Specific, Involuntary
Commercial Real Estate Broker Lien
Enables real estate brokers to place a specific involuntary lien against property for non-payment of services; applies only to commercial transactions
Domestic Support Lien
(deadbeat parent law) Makes overdue child support obligations a general involuntary lien on all real estate owned by the person obligated to pay support
Surety Bail Bond Lien
Specific, Voluntary
Corporation Franchise Tax Lien
General, Involuntary
IRS Tax Lien
General, Involuntary
Judgement
General, Involuntary lien; the result of a lawsuit that gives the sheriff permission to seize & sell personal and real property to satisfy a debt.
A written instrument by which an owner of real estate intentionally conveys to another the owner's rights, title, or interest in a parcel of real estate
Deed


Grantor
The owner conveying property
Grantee
One acquiring title/property
"I own" fee simple title with power to convey
covenant of Seisin
free of encumbrances except those stated in deed
covenant against encumbrances
3rd party claims (peaceable possession)
covenant of quiet enjoyment
will make good the title
covenant of further assurance
no time limit. if the title fails, i will compensate you for losses "back to the Indians"
covenant of warranty forever
Trust deed
means by which a TRUSTOR conveys real estate to a TRUSTEE for the BENEFIT OF A BENEFICIARY
Deed IN Trust
puts real property into a trust; trustor conveys PROPERTY into a trust to be held by a trustee for the benefit of a beneficiary
Deed OF Trust
conveys title to trustee to hold as security enabling the truster to pledge the actual real estate as security for a loan; serves the same purpose as a loan
Trustee's Deed
executed by a trustee to convey property out of a trust
when an adverse user can tack on his period of time of use to that of prior adverse occupants
tacking
Person who died having a will
Testate
Intestate
Person who died without a will
Devise
gift of real property in a will
Devisor
Giver of real property in a will
Devisee
Recipient of real property through a will
Heir
one who takes property through the law of descent
Legacy/Bequest
personal property given through a will
Beneficiary
a person receiving personal property through a will
Probate is a legal process by which
a court determines the assets of the deceased person & who will inherit the property