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18 Cards in this Set

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title

the right to ownership of the land

voluntary alienation

transfer of title during the property owner's lifetime



deed

document by which an owner of real estate conveys the right title or interested owned in the parcel of real estate to someone else

grantor

the owner who is transferring the property. Must be of legal age 18.

grantee

person who is receiving the property from the grantor

granting clause

words of conveyance that states the grantor's intention to convey the property

habendum clause

define or explain the ownership to be enjoyed by the grantee.

general warranty deed

provides greatest protection to the buyer because the grantor is legally bound by certain covenants or waranties

special warranty deed

contains two basic warranties


1. the grantor receive the title


2. the property was not encumbered during the time the grantor held title, unless noted



bargain and sale deed

contains no warranty

quite claim deed

provides the grantee with the least protection of any deed. Carries no covenants or warranties.

deed of trust

trustor conveys real estate to a trustee for the benefit of ta beneficiary

reconveyance deed

use by a trustee to return title to the trustor.

trustee's deed

is use when a trustee conveys real estate held in the trust to anyone other than the trustor

transfer tax

tax impose when real estate is convey

involuntary alienation

involuntary transfers usually carried out by law such as foreclosure.

intestate

when a person dies without a will, the tile to real estate passes to their heirs.

adverse possession

involuntary transfer