Chapter 3.C

What type of deed is used in a co-op transaction...?

A co-op does NOT have a deed

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

A deed and a contract have similar legal requirements in regards to what...?

Allowing the documents to be enforceable

How many Grantors must be included in the execution of a Deed...?

As many as there are owners of the property

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

John is four weeks away from closing on a house and wants to verify what type of deed will be delivered at the closing. Where should John look to find this information...?

Contract

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

Land that has been put aside for a public use by a deed which states exactly what the property will be used for is known as what...?

Dedication by Deed

What is an example of a covenant that may be found in a deed...?

Easement

A type of deed where the grantor guarantees that he or she holds clear title to a piece of real estate and has a right to sell it to the grantee is known as what...?

Full Covenant and Warranty Deed

This type of deed contains the strongest guarantee of title...?

Full Covenant and Warranty Deed

Eminent domain is an example of what...?

Involuntary Alienation

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

Land Patent

A method of identifying the legal description of a property is known as what...?

Lot and Block

The proposition that the contract for the conveyance of property merges into the deed of conveyance is known as what...?

Merger Doctrine

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

Metes and Bounds

Which of the following serves as the grantor in a transaction...?

Seller

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

In an executor's deed, the deceased person is also known as who...?

Testator

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

The quality of title in a transaction

What warranty is typically NOT provided in a Full Covenant and Warranty Deed...?

There are no outstanding violations

Abby is gifting her property to her family at the end of the year. Abby will be performing what type of transfer...?

Voluntary Alienation

The transfer of title during a typical 'arm's length' transaction is an example of what...?

Voluntary Alienation

The transfer of title to an asset with the consent of the owner is known as what...?

Voluntary Alienation

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

Accretion

The addition of land through processes of nature, as by water or wind is 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

In the case where the owner of a property has died without leaving a will, the fiduciary appointed to represent the estate is known as a/an...?

Administrator

A means of acquiring title where an occupant has been in actual, open, notorious, exclusive, and continuous occupancy of property under a claim of right for the required statutory period is known as what...?

Adverse Possession

A deed conveying real property without covenants is known as what...?

Bargain and Sale Deed

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...?

Bargain and Sale Deed

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

The means or medium by which title of real estate is transferred is known as what...?

Conveyance

The transfer of the title of land from one to another is known as what...?

Conveyance

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

Jim is looking to purchase a property but first wants to verify if there are any outstanding violations or complaints. Where should Jim go to find this information...?

Department of Buildings

ACRIS can be found under which New York City website...?

Department of Finance

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

Description

Which essential element of a deed refers to the actual signing of the deed...?

Execution

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

Executor

In the case where the owner has died and left a will, the fiduciary appointed to represent the estate is known as a/an...?

Executor

This type of deed is used only when the owner of the property is deceased?

Executor

This type of deed must recite the full consideration in the transaction...?

Executor Deed

A deed is NOT required to cite what...?

Full Consideration

Joe is selling his house to Kevin for $520,000. Kevin is known as who in the transaction...?

Grantee

The buyer in a transaction is known as the...?

Grantee

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

Grantor

The seller in a transaction is known as the...?

Grantor

Who signs the deed prior to transfer of title...?

Grantor

A .............. clause is also known as the "to have an to hold" clause?

Habendum Clause

A clause in a deed or lease that defines the type of interest and rights to be enjoyed by the grantee or lessee is known as what...?

Habendum Clause

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

In cases where the buyer agrees to take lesser title, how may the purchase price be affected...?

May be reduced

A term used in describing the boundary lines of land, seeing forth all the boundary lines together with their terminal points and angles is known as what...?

Metes and Bounds

The statute of frauds requires what for deeds...?

Must be in-writing

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

Premises

A term that is used for a gift of land that if 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

This type of deed has no warranties and no covenants against grantor's acts?

Quitclaim

This type of deed is typically used when money is not being exchanged and the grantee is willing to take the property 'subject to' its condition?

Quitclaim

A deed which conveys simply the grantor's rights or interest in real estate, without any agreement or covenant as to the nature or extent of that interest, or any other covenants is known as what...?

Quitclaim Deed

This type of deed is usually used to remove a cloud from the title...?

Quitclaim Deed

Which is NOT an essential part of deed..?

Recording

This type of deed is used to convey real property sold pursuant to a judicial order in an action for the foreclosure of a mortgage or for partition?

Referee's Deed

This type of deed is used when two owners want to partition their ownership in the property?

Referee's Deed

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

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...?

Statute of Frauds

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

Transfer Tax Return