Chapter 3.C

Bargain and Sale Deed

A deed conveying real property without covenants.

Executor's deed

A legal deed to real property given by an executor of an estate

Property survey

A survey will disclose the boundary lines, easements, encroachments and improvements on the property.

A mode of acquiring property that involves the addition of value to property through labor or the addition of new materials is known as what...?

Accession

A person who owns a property on a river delta also takes ownership of any additional land that builds up along that riverbank due to natural deposits or man-made deposits is an example of what...?

Accession

Alluvion is caused by a process known as what...?

Accretion

A formal declaration before a duly authorized officer by a person who has executed an instrument that such execution is the person's act and deed is known as what...?

Acknowledgement

Consideration

Anything of value promised to another when making a contract

A sudden and perceptible loss or addition to land by the action of water, or a sudden change in the bed or course of a stream is known as what...?

Avulsion

Grantee

Buyer

The covenant that states "that the said premises are free from encumbrances", meaning what is being sold to the buyer, is known as what...?

Clear and marketable title

Legal description (schedule A)

Consists of the written words which delineate a specific piece of real property

An appropriation of land to some public use, made by the owner, and accepted for such use by or on behalf of the public is known as what...?

Dedication

Legal policy mandates that a deed to real property be a matter of public record; therefore, subsequent to .................., a deed must be properly recorded.

Delivery and acceptance

As a real estate agent, where should you search to find any records of violations on a property...?

Department of buildings

This consists of the written words which delineate a specific piece of real property?

Description

A person or institution appointed by a testator to carry out the terms of their will is known as a/an...?

Executor

What type of deed is typically delivered by a 3rd party...?

Full covenant and warranty deed

Acris

Gives you access to all of the recorded documents on property. Ex- last recorded deed, mortgage on property, etc.

John is selling his house to Abby for $345,000. John is known as who in the transaction...?

Grantor

Habendum Clause

Is a clause in a deed or lease that defines the type of interest and rights to be enjoyed by the grantee or lessee

Quitclaim Deed

Is a legal instrument by which the owner of a piece of real property (grantor), transfer his or her interest to a recipient (grantee).

Adverse Possession

Is a process by which premises can change ownership by using property for a period of time without paying for it

Full Covenant and Warranty Deed

Is a type of property deed with 4 warranties: 1.) The purchaser has full possession of the property 2.) There are no liens and encumbrances 3.) There are no hostile claims to the property title 4.) Warranty of title

Acknowledgment

Is the declaration used to authenticate legal instruments, which may give the instrument legal validity, and works to prevent the recording of false instruments or fraudulent executions.

A supreme title to land which was originally acquired within the United States of America by a treaty is known as what...?

Land patent

Delivery & Acceptance

Legal policy mandates that a deed to real property be a matter of public record; therefore, subsequent to delivery and acceptance, a deed must be properly recorded.

Involuntary Alienation

Loss of property through attachment, condemnation, foreclosure, sale of taxes or other involuntary transfer of title.

Chris wants to research a property on the Department of Finance (ACRIS) website. Besides using the property's address, how else can Chris search to find information about the property...?

Lot and Block

A legal description, as found in the Schedule A, is described using what...?

Metes and bounds

Lot & Block

Method of identifying legal description of property.

Which part of a deed describes the facts of the transaction...?

Premises

A term that is used for a gift of land that is from the government is known as what...?

Public grant

This type of deed can be used when an owner of a property is looking to transfer the property to a company he/she owns?

Quitclaim

Which is NOT an essential part of deed..?

Recording

The statement "AND the party of the first part covenants has not done or suffered anything whereby the said premises have been encumbered in any way whatever, except as aforesaid." is typically found in what type of deed...?

Referee's deed

A section of a deed that may refer to a plat map, which includes the block and lot number of a particular piece of property is known as what...?

Reference to a Plat

The New York General Obligations Law Section 5-703 refers to what...?

Statue of Frauds

John is looking to purchase a property but first wants to verify the size of the lot. What document should John request from the owner that shows the exact size of the lot and house...?

Survey

The process by which a parcel of land is measured and its area ascertained is referred to as what...?

Survey

Conveyance

The act of transferring legal title of the property from one person to another

Executor

The fiduciary named by the maker of a will to carry out the directions of the will

The type of deed is typically determined by what...?

The quality of title in a transaction

Voluntary Alienation

Transfer of title to an asset with the consent of the owner.

In New York State, what is required to be recorded along with the deed...?

Transfer tax return

Referee's deed

Used to convey real property sold pursuant to a judicial order, in an action for the foreclosure of a mortgage of for partition

Grantor

seller