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16 Cards in this Set

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A written legal document by which ownership of real property is transferred from one party to another is a ?

Deed

The two parties to a deed are the ?

Grantor and Grantee

In order to convey title, a deed must be signed by the?

Grantor

Title does not pass to the grantee untill the deed is?

Delivered and accepted

Assurance to the grantee that he will not be disturbed by someone else with a lawful interest is the covenant of ?

Quiet enjoyment

The type of deed considered the best deed for the grantee is the ?

General warranty deed

A deed that conveys whatever interest in the property the grantor holds at the time of the conveyance and contains no covenants or warranties is a?

Quitclaim deed

A deed with warranties that apply only to the period the grantor owned the property is a ?

Special warranty deed

Property owned by one person is said to be owned in?

Severalty

A form of concurrent ownership in which each tenant owns an individual ownership share in the entire property and has no right of survivorship is ?

Tennants in common

A form of concurrent ownership in which all owners have equal share of the property and have rights of survivorship is ?

Joint tenancy

An individual interest in a resort condominium as a tenant in common for at least five times over five years is a?

Time share

A condominium is created by filing a?

Declaration

__?__ does not require co owners to go through probate to obtain title.

Joint tenancy

A person that holds stock in a building owned by a corporation owns the rights to a ?

Cooperative

An owner who fails to inspect her eeal property and give notice to a trespasser might lose the right of ownership through?

Adverse possession