12. Transfer of Title

Question 1

ACKNOWLEDGMENT

Answer 1

A formal declaration made before a duly authorized officer, usually a notary public, by a person who has signed a document.

Question 2

ADVERSE POSSESSION

Answer 2

The actual, open, notorious, hostile, and continuous possession of another’s land under a claim of title. Possession for a statutory period may be a means of acquiring title.

Question 3

BARGAIN AND SALE DEED

Answer 3

A deed that carries with it no warranties against liens or other encumbrances but that does imply that the grantor has the right to convey title. The grantor may add warranties to the deed at his or her discretion.

Question 4

DEED OF TRUST

Answer 4

The means by which a trustor conveys real estate to a trustee for the benefit of a beneficiary. See trust deed.

Question 5

DEVISE

Answer 5

A gift of real property by will. The donor is the devisor, and the recipient is the devisee.

Question 6

GENERAL WARRANTY DEED

Answer 6

A deed in which the grantor fully warrants good clear title to the premises. Used in most real estate deed transfers, a general warranty deed offers the greatest protection of any deed.

Question 7

GRANTEE

Answer 7

A person who receives a conveyance of real property from a grantor.

Question 8

GRANTING CLAUSE

Answer 8

Words in a deed of conveyance that state the grantor’s intention to convey the property at the present time. This clause is generally worded as “convey and warrant”; “grant”; “grant, bargain, and sell”; or the like.

Question 9

GRANTOR

Answer 9

The person transferring title to or an interest in real property to a grantee.

Question 10

HABENDUM CLAUSE

Answer 10

That part of a deed beginning with the words “to have and to hold,” following the granting clause and defining the extent of ownership the grantor is conveying.

Question 11

HEIR

Answer 11

One who might inherit or succeed to an interest in land under the state law of descent when the owner dies without leaving a valid will.

Question 12

INTESTATE

Answer 12

The condition of a property owner who dies without leaving a valid will. Title to the property will pass to the decedent’s heirs as provided in the state law of descent.

Question 13

INVOLUNTARY ALIENATION

Answer 13

When title to property may be transferred without the owner’s consent. See alienation.

Question 14

PROBATE

Answer 14

A legal process by which a court deter mines who will inherit a decedent’s property and what the estate’s assets are.

Question 15

QUITCLAIM DEED

Answer 15

A conveyance by which the grantor transfers whatever interest he or she has in the real estate, without warranties or obligations.

Question 16

RECONVEYANCE DEED

Answer 16

A deed used by a trustee under a deed of trust to return title to the trustor.

Question 17

SPECIAL WARRANTY DEED

Answer 17

A deed in which the grantor warrants, or guarantees, the title only against defects arising during the period of his or her tenure and ownership of the property and not against defects existing before that time, generally using the language, “by, through, or under the grantor but not otherwise.”

Question 18

TESTATE

Answer 18

Having made and left a valid will.

Question 19

TESTATOR

Answer 19

A person who has made a valid will. A woman often is referred to as a testatrix, although testator can be used for either gender.

Question 20

TITLE

Answer 20

(1) The right to or ownership of land. (2) The evidence of ownership of land.

Question 21

TRANSFER TAX

Answer 21

Tax stamps required to be affixed to a deed by state and/or local law.

Question 22

TRUSTEE’S DEED

Answer 22

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

Question 23

VOLUNTARY ALIENATION

Answer 23

The legal terms for the voluntary transfer of title. See also alienation.

Question 24

WILL

Answer 24

A written document, properly witnessed, providing for the transfer of title to property owned by the deceased, called the testator.