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7 Cards in this Set
- Front
- Back
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Tenancy in Severalty
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owned by one person
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Tenancy in common
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multiple partners own property, no right of survivorship, each owner may have separate deeds or all owners on the same deed
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Joint Tenancy
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special wording required; right of survivorship, title remains with surviving tenants, 4 unities are possession, interest,time, title.
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tenancy by entirety
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husband and wife
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marketable title |
title that is free and clear of liens or title defects, may sell freely
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what does the title insurance insure?
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defects in title of record, defects not disclosed by the record, cost of defending the title
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what is the purpose of the deed
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transfer marketable title (ownership) from grantor to grantee. Deed is evidence of ownership
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