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;
7 Cards in this Set
- Front
- Back
|
The right to or ownership of land, and can also be evidence of that ownership |
Title |
|
|
The transfer of title on real estate by gift or sale during one's life, using some form of deed |
Voluntary alienation |
|
|
A written instrument by which an owner intentionally conveys the right, title, or interest in a parcel of real estate to someone else |
deed |
|
|
Statue of Frauds requires |
all Deeds to be in writing
|
|
|
True of False. the owner who transfers the property is referred to as the grantor |
True. the grantor conveys the property. The grantee receives the property from a grantor. Note: A deed is executed (transferred) signed by the onwer (grantor) |
|
|
True or False. To be valid, a deed must be signed by both the grantor (owner) and the grantee (buyer). |
False. The the deed must be signed by all grantors (owners) listed on the deed. Grantees (buyers) are not required to sign the deed. Note: A deed is executed (transferred) signed by the onwer (grantor) |
|
|
In the case of taking out a mortgage, the buyer or the person that takes out the loan is Mortgagor or Mortgagee? |
The Mortgagor, you are taking out the loan and the bank is the Mortgagee because they are recipient of the loan |
