Chapter 5 Methods of Transferring Property

Person appointed by the court to settle the estate.

Administrator

in order to get adverse possession you need to prove HI OCEAN. 7 years with color title. 20 years without color of title. State property: 21 years and 30 years. Hostile Intentional Open Continuous Exclusive Actual Notorious

Adverse Possession

The act of witnessing the person sign the document

Attestation

Grantor hold title and possession of the property and there are no express warranties against encumbrances.

Bargain and sale deed

Used to give property to the government

Cession Deed

the record of property ownership does not include liens and encumbrances

Chain of Title

Something wrong with the title something not right. Incorrect information on the deed. Claims of ownership Invalid transfer of the deed

Cloud on Title

Deed - the instrument that conveys title of a property from a grantor to a grantee Title - The right to ownership or the ownership of the land.

Deed Vs Title

i get paid with ever deal! In writing Grantor must be competent Property Description Words of Conveyance Execution Delivery and Acceptance

Essential elements of a deed

requited to be affixed to deeds and coveyances before being recorded. $500 per $1 value. $89,500/$500 = $179

Excise Tax

The strongest Protection form of guarantee of title. Covenant to seisin Covenant of right to convey Covenant against Covenant against encumbrances Covenant against quiet enjoyment Covenant of quiet enjoyment Covenant of Warranty Grantees right to recovery Sell Real Estate Quickly with full confidence

General Warranty Deed

Clause in a deed or lease that defines the type of interest and right and rights to be enjoyed by the grantee/lessee

Habendum Clause

A handwritten wil

Holographic Will

Transfer of title of a property and usually by operation of Law Escheat , Eminent Domain Foreclosure Adverse possession

Involuntary Alienation

State Law determines how property will pass if someone dies without a will.

Laws of Decent and Distribution

Deed was to old. Aimt to extinguish old defects in the title. Titles without conflict for 30 years , then the claims are extinguished.

Marketable Title Act

By Deed By Descent By Escheat By Will By Adverse possession By Condemnation under eminent domain.

Methods of transferring title

Acknowledgement Date Consideration Seal Witnessing Recordeed

Non Essential Elements of a deed

Oral will that cannot contradict a written rule.

Nuncupative will

Quitting your claim. Contains no warranties Mostly used to clear a defect Used in foreclousure and spousal interest upon divorce.

Outclaim Deed

established by certificate of title , doe not reveal unrecorded liens or rights of parties in possession.

Proof of ownership

Provides the least protection of any deed. Carries no covenants or warranties

Quit Claim Deed

Confirmation Deed Release Deed Deed of Surrender Deed of Gift Bargain and sale Deed Guardians Deed Committees Deed

Special Purpose Deeds

Warranty that the grantor received title Warranty that property was unencumbered by the grantor Limited to the claims only in the time which the Grantor held title.

Special Warranty Deed

How to assure you are getting good title.

Title Assurance and Title insurance

The Connor Act certain real estate documents are not valid against 3rd parties until recorded. Purchase and option contracts Deeds Mortage Instruments Assignments of instruments Leases more than three years Easements Restrictive Covenants Register of deeds office Original returned to owner Indexed by grantor and grantee Original returned to owner.

Title Recordation

Is the voluntary transfer of tittle to real estate by gift or sale using a form of deed.

Voluntary Alienation

The substitution of one creditor for another. (title insurers to sue from the injured party to recover paid claims)

subrogation