Ch 2, California Real Estate Principles 15th Edition Walt Huber

Quiteclaim Deed

A deed to relinquish any interest in property that the grantor may have without any warranty of title of interest.

Grant Deed

A deed using the word "grant," or like words, containing warranties against prior conveyances and encumbrances. This is the most commonly used deed in California.

Fee Simple Defeasible Estate

A fee estate that is subject to particular limitations imposed bu the grantor of the estate.

Witnessed Will

A formal expression of a person's desires, witnessed by others, as to the disposition of his or her property after death.

Holographic Will

A handwritten expression of a person's desires as to the disposition of his or her property after death.

Corporation

A legal entity, sanctioned by the state, with rights and liabilities, distinct and apart from those of the persons composing it.

Adverse Possession

A method of acquiring title to real property, through possession of the property for a statutory period under certain conditions, by a person other than the owner.

Intestate Succession

A process of law by which the state lays out the correct succession of inheritance when a person dies without leaving a valid will.

General and Limited Partnerships

A voluntary association between two or more peopled to carry on a business with general and limited partners.

Severalty

An estate of a single entity help by a single person alone.

Freehold Estate

An estate of indeterminable duration, e.g, fee simple or life estate.

Life Estate

An estate or interest in real property which is held for the duration of the life of some certain person.

Remainder

An estate that is transferred to a third party (anyone other than the grantor) upon the death of the life estate holder.

Reversion

An estate that reverts back to the grantor after the life of the tenant expires.

Encroachment

An unlawful intrusion on another's property by making improvements to real property, e.g., a swimming pool built across a property line.

Tenancy in Common

Co-ownership of property by two or more persons who hold undivided interest, without right of survivorship. The interests need not be equal.

Constructive Notice

Documents filed with the County Recorder in such a way as to be considered open notice to the world.

Actual Notice

It is notice that is actually and expressly given or implied.

Affirmation, Affidavit, Verification

Many different types of statements made before a professional witness.

Recording

Placing a document in the official records of the county.

Community Property

Property acquired by husband and/or wife during marriage that is not acquired as separate property. Each spouse has equal rights of management, alienation and disposition.

Accession

The acquiring of additional property.

Delivery

The act of receiving a deed.

Probate

The court procedure of proving that a will is valid.

Dedication

The giving of private land by its owner for a public use; most commonly, the developer who gives it to the city.

Abandonment

The intentional and voluntary relinquishment of any ownership interest (such as easement) or possession of real property.

Prescription

The means of acquiring interests in land, usually an easement, by continued use.

Escheat

The reverting of private property to the state when there are no valid heirs.

Joint Tenancy

Undivided ownership of a property interest by two of more persons, each of whom has a right to an equal share in the interest and a right of survivorship.