Chapter 14: Transfer of Title- Wills, Descent, and Deeds

Three methods to transfer property

1. By will or by descent 2. By voluntary alienation (deeds) 3. By involuntary alienation (foreclosure, condemnation, adverse possession)

Three major types of deeds

1. General warranty deed 2. Special warranty deed 3. Quitclaim deed

Special Warranty Deed

A deed in which will convey the property, but does not carry with it all of the warranties found in a general warranty deed. Thus the grantor limits his liability to defects arising only after he acquired title, and during his time of ownership. This type of deed is frequently used by fiduciaries such as trust companies or guardians

Quitclaim Deed

A deed that provides the least protection to the purchaser; it does not contain warranties of any kind. It conveys only the grantor's present right, title or interest in the property, if any, when the deed is delivered

Bargain and Sale Deed

A deed used to convey title to real property, which usually does not include warranties; if any, they are generally an assertion by the grantor that he has possession of the property.

Instestate

A person who dies without a will, or with one which is defective in form

Executor

A personal representative appointed by a testator to carry out the provisions and duties specified in the will

codicil

A supplement or addition to a will that adds or subtracts or qualifies the provisions of the will, in which both the will and the codicil to a will are formal written instruments signed by the maker and declared to be his last will and testament in the presence of atleast two witnesses

Probate

An action of the court to determine the validity and legality of a last will and testament.

Covenant

An agreement written into deeds and other instruments which promises or guarantees that something shall or shall not be done; an agreement stipulating certain uses or non-uses of property

Holographic will

An unwitnessed will that is written entirely in the handwriting of the person under whose name it appears; not valid in Hawaii

General Warranty Deed

It is one of the most commonly used in Hawaii to transfer title Considered to offer purchaser of real estate the greatest protection The grantor warrants or guarantees the title against any defects that existed before the grantor acquired title, or that arose during the grantor's period of ownership

Nominal Consideration

One bearing no relation to the real value of the contract. an example is a property which is deeded for $10.00.

Seisin

Possession of real property by one entitled thereto; a warranty that at the time of delivery of a deed, the grantor actually has the right and capacity to convey good legal title; also called "seizen."

Conveyance Tax

Tax paid by seller upon transfer of deed

Devisee

The person receiving the gift of the devise, from a will

Decedent

The person who died or passes

Habendum Clause

The portion of a deed beginning "to have and to hold," which usually follows the granting clause, and explains or limits the estate granted.

Escheat

The reverting of property to the State when heirs capable of inheriting are lacking; or the property is abandoned

Quiet enjoyment

The right of an owner or tenant legally in possession to the use of property without interference from the landlord, or grantor, or anyone claiming through him.

Alienation

The transferring of real property from one person to another; to transfer

Testate

To die with a valid will

Deed

Voluntary alienation; The common means of transferring title to real property from one person to another, by gift or sale, is a voluntary transfer; instrument used for this purpose is the deed It is a written legal instrument, duly signed and delivered whereby the owner of the land (grantor) conveys to another (grantee) some right, title, or interest in the real estate An instrument in writing, duly executed and delivered by the grantor that conveys to the grantee some right or interest in or to real estate

Devise

When the decedent leaves a gift of real estate by will

Administrator

a man who has been appointed by the court to settle an estate A representative appointed by the court to perform the functions of the will