Unit 9: Estates, Transfers, & Titles

Entire fee simple interest

"to Jacqueline Smith and to her heirs and assign forever," is what kind of interest/estate? Entire fee simple interest or Life estate?

Life estate

"to Jacqueline Smith for the duration of her natural life," is what kind of interest/estate? Entire fee simple interest or Life estate?

Community property

(Community property or Separate property) passes on the death of one spouse without a will in one of two ways: 1 - To the surviving spouse, if all surviving children and descendants of the deceased spouse are also children or descendants of the surviving spouse 2 - One-half to the surviving spouse and one-half to the children or descendants of the deceased spouse if there are any children or descendants of the decedent that are not the children or descendants of the surviving spouse

Deeds

(Deeds or Wills) do not guarantee or prove ownership.

Prescription

A claimant who can't prove title through adverse possession may acquire an easement by __________________.

Constructive notice

A concept based on the legal presumption that information may be obtained by an individual through diligent inquiry. Properly recording documents in the public record serves as (constructive notice or actual notice) to the world of an individual's rights or interests. So does the physical possession of a property.

Actual notice

A concept that means that not only is the information available but someone has been given the information and knows it. After searching the public records and inspecting the property, the individual has (constructive notice or actual notice).

Voidable

A deed executed by a person considered to be mentally incompetent is (void or voidable).

Void

A deed executed by a person who is judged legally incompetent is considered to be (void or voidable).

Voidable

A deed executed by an infant is considered to be (void or voidable).

Void

A deed naming as the grantee a wholly fictitious person - a company that doesn't exist legally or a society or club that isn't properly incorporated - is considered to be (void or voidable).

Recorded

A deed without an acknowledgment or a deed without a jurat cannot be ______________.

Notary

A document stating "subscribed, sworn to, and acknowledged before me" has all the elements of both an acknowledgement and a jurat if signed in front of a ___________.

Testate

A who person who has died and has prepared a will indicating how property will be disposed of after her death.

Holographic will

A will that is wholly in the handwriting of the maker. The document must indicate that the decedent intended the writing to be the last will and testament. Witnesses to the execution of the will are not required.

Deed

A written instrument by which an owner of real estate intentionally conveys to a purchaser a right, title, or interest in a parcel of real estate.

Acknowledgement

A(n) (acknowledgement or jurat) is a formal declaration before a notary public or other authorized public officer that authenticates signatures on a document for the purpose of recording.

Jurat

A(n) (acknowledgment or jurat) generally says, "SUBSCRIBED AND SWORN TO before me, the undersigned authority, on the 16th day of July, 2015, by John Doe."

Granting clause

Depending on the type of deed and the obligations agreed to by the grantor, the wording is generally "convey and warrant," "grant," "grant, bargain, and sell" or "remise, release, and quitclaim" in the (granting clause or habendum clause).

Taxes

Either the administrator or the executor is responsible for paying federal estate ______, state inheritance _______, and other claims payable against the estate.

Legal

For a deed to be valid, it must contain an accurate _______ description of the real estate conveyed.

Validity

Neither an acknowledgment nor a jurat is essential to the ___________ of a deed in Texas.

English

Since 1837, all deeds to Texas land must be written in ____________.

Ancestors

Texas law makes provisions for adopted children. When they have been legally adopted, they usually are considered heirs of the adopting parents but will not be considered heirs of ______________ of the adopting parents.

Attorney-at-fact

Texas law permits a grantor's signature to be signed by an ____________-at-_______ acting under a power of attorney. This is any person who has been given power of attorney to sign legal instruments for a grantor.

Recorded

Texas law provides that a deed or mortgage is not effective as far as later purchasers are concerned until such documents have been _____________.

Warranty clause

The (habendum clause or warranty clause) states the nature of the grantor's warranties - "forever" in a general warranty deed, "by or through me" in a special warranty deed, "without warranty" in a deed without warranty.

Public

The (public or private) records should reveal the condition of the title, and a purchaser should be able to rely on a search of the (public or private) records.

25

The _#_-year statute requires an adverse possessor be in good faith, and have a recorded deed that purports to convey title to the claimant.

10

The _#_-year statute requires an adverse possessor cultivate, use, or enjoy the property. A deed or chain of title in support of the claim isn't necessary, and there is no requirement for payment of taxes by the adverse possessor. The adverse claimant is limited to the acquisition of 160 acres unless there is some type of written memorandum of title that increases the number of acres.

3

The _#_-year statute requires an adverse possessor have title or color of title. Title is established by a regular chain of transfers beginning with the original land grant from the government.

5

The _#_-year statute requires an adverse possessor pay the taxes on the property; cultivate, use, or enjoy the property; and claim the property under a recorded deed. The adverse possessor isn't required to produce a chain of title. The claimant must produce a recorded deed and proof of payment of taxes to support the other elements of adverse possession.

Alienation

The act of conveying (transferring) real estate ownership (title).

Estate

The amount and kind of legal interest in, or right in, real property that allows or will allow possession.

Delivery

The effective date of the transfer of title from the grantor to the grantee is the date of (acceptance or delivery) of the deed itself.

Court order

The full dollar amount of consideration is seldom set forth in the deed, except when the instrument is executed by a corporation or trustee or pursuant to __________ __________.

Devisee

The gift of real property by will is known as a devise, and a person who receives real property by will is known as a ____________.

Grantor

The granting clause should indicate what interest in the property is being conveyed by the (grantor or grantee).

Covenant of quiet enjoyment

The grantor guarantees that the grantee's title is good against third parties that might bring to court actions to establish superior title to the property. If the grantee's title is found to be inferior, the grantor is liable for damages. Which of the 5 covenants and warranties of title is the above for a General warranty deed?

Covenant of warranty forever

The grantor guarantees that they will compensate the grantee for the loss sustained if the title fails at any time in the future. Which of the 5 covenants and warranties of title is the above for a General warranty deed?

Covenant of further assurance

The grantor promises to obtain and deliver any instrument needed to make the title good. Which of the 5 covenants and warranties of title is the above for a General warranty deed?

Covenant of seisin

The grantor warrants that he or she owns the property and has the right to convey title to it. The grantee may recover damages up to the full purchase price if this covenant is broken. Which of the 5 covenants and warranties of title is the above for a General warranty deed?

Covenant against encumbrances

The grantor warrants that the property is free from any liens or encumbrances, except those specifically stated in the deed. Encumbrances include such items as mortgages, mechanic's liens, and easements. If this covenant is breached, the grantee may sue for expenses to remove the encumbrance. Which of the 5 covenants and warranties of title is the above for a General warranty deed?

Steal

The intent of the adverse possession laws isn't to legally ________ someone's property but rather to clear up boundary and title disputes.

Probate

The legal process by which a court determines the validity of a will and establishes the assets of a decedent and who will inherit those assets.

Deed

The minimum general requirements for an instrument to qualify as a (deed or will) in Texas are that it must - name the grantor and grantee, - state that consideration was given, - contain a description of the property sufficient to identify it, - contain words of conveyance, - be in writing and signed by the grantor or properly authorized agent, and - be delivered to the grantee or an agent and accepted.

Grantor

The owner or the seller of the parcel of real estate is which party in the deed? The grantor or the grantee?

Testator

The parties named in a will have no rights or interests as long as the (testator or devisee) is still alive; they acquire interest or title only after the owner's death.

Grantee

The receiver or the buyer of the parcel of real estate is which party in the deed? The grantor or the grantee?

First

The recording acts give legal priority to those interests that are recorded _______.

Codicil

The testator may modify an executed will by means of a __________, which must be in the same form as the will it amends.

Voluntary alienation

The transfer of title may be made by either gift or sale. An owner must use some form of deed of conveyance.

Trustee's deed

This conveyance deed is generally a special warranty deed. It is used when a trustee named in a will, trust agreement, or deed of trust (mortgage document) sells or conveys property out of the trust.

Deed in trust

This conveyance deed is usually a general warranty deed or a special warranty deed, this is a method of delivering a deed into a trust from a trustor to a trustee - until some future event that would cause the trustee to deliver the deed to the beneficiary/grantee.

Special warranty deed

This deed of conveyance carries only one covenant. The grantor warrants only that the property was not encumbered during the time they held title, except as noted in the deed, and that they have done nothing during ownership to cloud or damage the title.

General warranty deed

This deed of conveyance provides the greatest protection of any deed for the purchaser of real estate. It contains five covenants and warranties of title: covenant of seisin, covenant against encumbrances, covenant of quiet enjoyment, covenant of further assistance, and warranty forever.

Adverse possession

This is a means of involuntary transfer of title to property. An owner who doesn't use their land or doesn't inspect it for a number of years may lose title to another person who has some claim to the land, takes possession, and uses the land.

Deed without warranty

This type of conveyance deed is sometimes called a bargain and sale deed. This deed contains no warranties against encumbrances; however, it does imply that the grantor holds title and possession of the property. The grantee has little legal recourse if defects later appear in the title.

Quitclaim deed

This type of conveyance deed provides the grantee with the least protection. It carries no covenants or warranties and conveys only such interest that the grantor may haven when the deed is delivered. A title insurance policy wouldn't be written on a property with this kind of deed.

Caveat emptor

Through the legal maxim of ___________ __________, the courts charge a prospective real estate buyer or lender (mortgagee) with the responsibility of inspecting the property and searching the public records to ascertain the interests of other parties.

Tacking

Through the principle of ____________, successive periods of adverse possession can be combined by successive adverse possessors, thus enabling a person who isn't in possession for the required time to establish a valid claim.

Involuntary alienation

Title to property is transferred without the owner's consent. Such transfers are usually carried out by operation of law (escheat, eminent domain, foreclosure, or adverse possession).

Pass

Title to real estate doesn't "_______" (transfer) until the deed is actually delivered to and accepted by the grantee.

Grantor's

To be valid, a deed must be delivered during the (grantor's or grantee's) lifetime.

Grantors

To be valid, a deed must be signed by all (grantors or grantees) named in the deed.

Constructive

To give (constructive or actual) notice under the Texas recording acts, all instruments affecting any estate, right, title, or interest in land must be recorded in the office of the county clerk in the county where the land is located.

Permission

What stops adverse possession?

Sufficient

When a deed conveys real estate as a gift to a relative, "love and affection" may be (sufficient or nominal) consideration.

Intestate

When a person dies without having left a valid will, the decedent's real estate and personal property pass to the heirs according to the statute of descent and distribution.

Habendum clause

When it is necessary to define or limit the ownership interest of the grantee (fee simple, defeasible fee, or life estate interest), a (habendum clause or warranty clause) follows the granting clause. This clause begins with the words "to have and to hold." Its provision must agree with those set down in the granting clause. When a discrepancy between the two clauses exist, the provisions in the granting clause usually are followed.

Special warranty deed

Which type of conveyance deed is used by fiduciaries such as trustees, executors, and corporations, and sometimes by grantors who have acquired title at tax sales.

Grantee's

With the exception of an owelty deed to settle property claims in death or divorce, a valid deed doesn't require a (grantor's or grantee's) signature - although some deeds may have a line for it as proof of acceptance.

Color

________ of title means a consecutive chain of transfers (which may not be regular) down to the adverse possessor.

Title

________ to real estate means the right to or ownership of the land and it represents the evidence of ownership. It has two functions: 1 - it represents the "bundle of rights" the owner possesses in the real estate 2 - it denotes the facts that, if proven, would enable a person to recover or retain ownership or possession of a parcel of real estate

Quitclaim

_______________ deeds are an exception to first in time is first in priority because they convey only the interest held by the grantor at the time of conveyance.

Divorce

A _____________ between the transferor and a designated beneficiary revokes a transfer on death deed (TODD) if the ___________ judgment is filed in the county records before the death of the transferor.

Broker

A _________ entering into a listing agreement with the executor or the administrator of an estate in probate should be aware that the amount of commission will be fixed by the court and that such commission is payable only from the proceeds of the sale.

Deed

A (deed or will) conveys a present interest in real estate during the lifetime of the grantor.

Will

A (deed or will) conveys no interest in real property until after the death of the testator.

Will

A (deed or will) may not revoke or replace a transfer on death deed (TODD).

Private grant

A (private grant or public grant) is from individuals, using a deed.

Public grant

A (private grant or public grant) is from the government to individuals, using a land patent.

Legatee

A gift of personal property is known as a legacy or bequest; the person receiving the personal property is known as a ____________.

Restrict

A grantor may (reserve or restrict) a grantee's use of the property.

Reserve

A grantor may (reserve or restrict) some right in the land for their own use.

Decedent

A person who has died

Cloud

A quitclaim deed is frequently used to cure a little defect, called a _______ on the title.

Administrator

After the heirs are established in a probate proceeding, the court appoints a person called an __________________ to oversee the administration and distribution of the estate (if there is no will).

Writing

All deeds must be in ___________ in accordance with the requirements of the statute of frauds.

Transfer on death deed

An individual may transfer an interest in real property to one or more beneficiaries during the individual's lifetime, and title to the property transfers to the beneficiaries upon the individual's death without the beneficiaries having to go through probate. What kind of deed is this?

Fee simple

As long as taxes are paid and liens don't become delinquent, it is expected that a _____ ___________ title will remain marketable.

Testator

Because a person who has died and left a will is said to have died testate, a party who makes a will is known as a ______________.

Confidentiality

Deeds, mortgages, and deeds of trust must contain a statutorily prescribed "________________ notice" on the first page stating that SSNs and driver's license numbers may be removed before a document's being filed of record because these instruments are available for review by the public.

Recorded

Delivery and acceptance are generally presumed if a deed has been _____________ by the county clerk.

4

If a will is not probated within _#_ years after the date of death of the decedent, any property owned by the decedent passes by the laws of descent.

Possessor

If the property owner doesn't file a suit or otherwise remove the trespasser within a prescribed period, the adverse ______________ receives "full title, precluding all claims" - they acquire fee simple title.

Executor

If there is a will, the court gives this person the authority to appraise the assets of the estate and satisfy all debts that are owed by the decedent. What is this person called?

Legally

Illegitimate children inherit from the mother but not from the father, unless he has admitted parentage in writing or parentage has been established ____________.

Will

In Texas, a formal, or witnessed, (deed or will) must be in writing and signed by the testator in the presence of two or more credible witnesses above the age of 14 who will subscribe their names as witnesses. The witnesses should be persons not named as devisees or legatees in the will.

Nominal

In deeds conveying property as a gift, it is customary in Texas to recite a (sufficient or nominal) consideration, such as $10 and other good and valuable consideration.