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19 Cards in this Set
- Front
- Back
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Grant |
The transfer of an interest in title to real estate |
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Grantor |
An individual capable of conveying an interest in real estate |
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Grantee |
An individual acquiring an interest in title to real estate. |
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Grant Deed |
A document used to pass a fee simple interest in real estate from the grantor to another individual, unless a lessor interest is stated |
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Quitclaim Deed |
A document used to convey whatever interest, if any, the grantor may hold in the real estate |
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Common Description |
Description of Real Estate by its street address, AKA it's common address |
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Legal Description |
Description of Real Estate in a deed by its parcel or lot number, or containing the property's metes and bounds description |
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Amanuensis |
An individual who has the oral authority of the grantor to sign a grant deed by their own hand on behalf of the grantor |
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Implied Covanent |
An implied warrant the grantor has not previously conveyed or encumbered their interest in the real estate |
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Emcumbrance |
A claim or lien on title to a parcel of Real estate, such as property taxes, assessment bonds, trust deeds, easements and CC&Rs |
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Remote Grantee |
A future owner of Real estate who later takes title to a property, AKA a successor |
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Subrogation |
The replacement of one person with another in regard to a legal right or obligation |
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Reformation |
A legal process to correct an omission or error in a grant deed by court action |
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Constructive Delivery |
Delivery of a deed occurring when the deed is understood by the grantor and grantee to be delivered by agreement, or when the deed is accepted by a third party for the benefit of the grantee |
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Revocable Transfer on Death Deed (RTDD) |
Any document created to transfer real estate without covenant ot warranty of title to a beneficiary upon the owner's death |
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Security |
Collateral for a debt in the form of a lien imposed on property |
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Documentary Transfer Tax |
A tax imposed on a recorded document when real estate is transferred |
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Void Deed |
A deed that is unenforceable and conveys no interest in real estate |
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Voidable Deed |
A deed that is valid and enforceable until it is challenged due to a defect and declared invalid by a court order |
