Conveying title

Non-essentials

Grantor or Grantee's address

In addition to being in writing, the deed must have the following essential elements:

Grantor/grantee Act of conveyance (granting clause) Consideration Legal description Limitations and "subject to" clause Signature of the grantor Acknowledgment/recording Delivery and acceptance

According to the Pennsylvania law of descent and distribution, if a person dies intestate, to whom or what does title to the deceased person's property pass?

Heirs

A handwritten will by the testator

Holographic will

These are considered the heirs of both biological parents and can inherit from either parent if paternity can be legally established.

Illegitimate children

Convenant of right to convey

The grantor has the capacity and right to convey title.

Covenant of Seisin

The grantor owns the title specified in the deed.

Covenant of warranty

The grantor promises to protect and defend the title against lawful claims made by others- this is the most important covenant

Covenant for further assurances

The grantor promises to provide any additional assurances that the grantee reasonably requires and will perform any acts necessary to correct any defects in the title being conveyed.

executor

The person appointed to carry out the provisions of the will

acknowledgeable

an oath of a subscribing witness, such as a notary public

A deed must include evidence that something of value (usually money) is being exchanged also known as ....

consideration

Referee's deed

contains no covenant or warranties but does imply ownership (seisin). A referee's deed is used in bankruptcy proceedings and foreclosures

Which four of these options are true of a dedication by deed?

-Can be used for green spaces or easements -Benefits the community and the landowner -Voluntarily given by the owner -Potential use as a tax write-off

6 convenants of Full covenant & warranty deed

1. covenant of seisin (ownership) 2. covenant of right to convey 3. covenant against encumbrances 4. covenant of quiet enjoyment 5. covenant for further assurances 6. covenant of warranty

operation of law

A contract is discharged by a court because it is in the best interest of society

Trustee's Deed

A deed executed by a trustee conveying land held in a trust.

Executor's Deed

A deed executed by an executor to convey title to real property owned by a decedent who left a valid will.

Why would someone give a gift/title of real property?

A parent may give property to a child A corporation may gift property to a community A person may gift property in a will An ex-spouse may gift interest to joint property using a quitclaim deed

A legal description in a deed may contain any or all of the following:

A street address (this won't suffice as a complete legal description and must also include one of the following types of legal descriptions) A metes-and-bounds property description A plat reference or lot and block number A tax assessor number A monument

Which one of these clauses in a deed meets the requirements for act of conveyance?

Does hereby bargain, grant, deed, and convey

Your client is selling his late mother's home. This is likely the type of deed he'll use to convey ownership.

Executor's deed

(T or F?) The deed must be officially accepted by the grantee.

False

(T or F?) The grantee must appear before a public officer.

False

(T or F?) The grantee must state that the deed is accepted.

False

(T or F?) A public official must deliver the deed to the grantee.

False answer : an attorney, real estate broker, or the title company issuing the title must deliver

As a real estate professional, you'd most likely want your buyer to receive this type of deed for the most trouble-free title.

General warrenty

What elements are essential for a deed to be valid?

In writing Names and positively identifies the grantor Includes the grantor's signature(grantee's does not need to be included/essential) Names a grantor who is legally competent and has reached the age of majority(grantee competence not essential) Includes an adequate legal description Names a grantee who is living

Acknowledgment is a key element to a deed. Why should a grantee always receive an acknowledged deed?

It provides the grantee title protection against other purchasers of the same property from the grantor.

A deed is said to be an instrument of conveyance. What does this mean?

It's a written document used to convey property title from one person or entity to another.

Dedication by Deed

Land that has been put aside for a public use by a deed which states exactly what the property will be used for.( also legally binding once accepted)

These are considered heirs of the parents who adopted them, but they are not considered heirs of their adoptive parents' blood relatives.

Legally adopted children

A deed of gift of real property is ______ _______ and given without ______ _______. The grantee can't enforce _____ against the grantor. It wouldn't be a gift if the deed were given with _______ from the grantee.

Legally binding monetary consideration warranties consideration

Quitclaim Deed

Releases any rights of the property to the grantee but does not offer any warranties to the grantee

Bargain and sale deed

May come with or without covenants of warranty against encumbrances

Acceptance

Once delivery is made, acceptance is presumed.

Cheng is selling his property to Jericho. What's the best method Jericho can use to ensure his interest in the property?

Record the deed in his name

In most states, this is what a bargain and sale deed with a covenant is called.

Special warranty deed

The heirs take title by descent—the way in which they're related to the deceased. The order of priority is:

Spouse Children Parents Siblings More distant relatives

These are considered the primary heirs of the deceased. Their share of the estate is determined by the law.

Spouse/close blood relatives

Heir Categories and the order of title inheritance

Spouse/close blood relatives Legally adopted children Illegitimate children

May be created by filling in blanks and checking boxes

Statutory will

Covenant against encumbrances

The grantor assures the grantee that there are no encumbrances against the title other than those identified in public record or the deed itself.

Words (or Act) of Conveyance

The deed must have words of conveyance that signify the grantor's intention to transfer title to the grantee. In our sample deed, this wording is contained in the same section that named and identified the grantor and grantee.

Covenant of quiet enjoyment

The grantor assures that the grantee won't be disturbed in the use and enjoyment of the property because of a title defect passed on by the grantor.

What are three purposes of probate?

To appoint an administrator To supervise estate distribution To determine a will's validity

(T or F?) A deed is a written and signed legal document that transfers ownership from one person to another.

True

(T or F?) A deed is an instrument of conveyance.

True

(T or F?) A deed must be acknowledged or have an oath of a subscribing witness.

True

(T or F?) A notary should acknowledge the grantor's signature.

True

(T or F?) The deed must be delivered to the grantee or an agent of the grantee.

True

(T or F?) The grantee is the person receiving the title.

True

(T or F?) The grantor is the person who transfers the title.

True

recording

While the deed is valid between the parties without an acknowledgment, recording (and therefore acknowledgment) is vital if the grantee wants to protect the title against future buyers of the same property from the same grantor.

Devise

a gift of real property

Covenant

an agreement

The person who writes the will is called the ______ and the recipient is the ______.

devisor devisee.

Intestate

dying without a will

Court Ordered Deeds

executor's deeds, sherriff's deed, etc

General Warranty deed(Full covenant/warranty deed)

offers the greatest warranty to buyers and is the preferred type of deed in most situations

legal title

ownership of a freehold estate

As required by the statute of frauds, every deed must be....

in writing ..Oral conveyances for the transfer of an interest in real property aren't recognized by law.

Equitable Title

interest acquired by buyer with land contract

Voluntary Alienation

is an unforced transfer of title by sale or gift from an owner to another party ex- Kali intentionally transfers her property to Sandy.

What is the purpose of Habendum clause?

it's simply a description of the act of conveyance

What is the purpose of the Limitations and Subject To Clause section of a deed?

its purpose is to dictate the ways in which a property may or may not be used.

Delivery

may be made directly to the grantee or to an agent of the grantee, such as an attorney, real estate broker, or the title company issuing the title.

Testate

to die with a valid will

adminstrator

will distribute the decedent's assets according to the law of descent and distribution (intestate succession).