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