Chapter 19 - Legal Descriptions and Deeds Flashcards Preview

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Flashcards in Chapter 19 - Legal Descriptions and Deeds Deck (21):
0

Acknowledgement

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

1

Bargain and sale deed

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.

2

Bargain and sale deed with covenants

A deed in which the grantor warrants and gurantees the title against defects arising during the period of his or her ownership of the property but not against defects existing before that time.

3

Benchmark

A permanent reference mark or point established for use by surveyors in measuring differences in elevation - see also datum.

4

Covenant

Agreement written into deeds and other instruments promising performance or nonperformance of certain acts or stimulating certain uses or nonuses of the property.

5

Datum

Point from which elevations are measured. Mean sea level in New York harbor or local datum.

6

Deed

A written instrument that, when executed and delivered, conveys title to or an interest in real estate.

7

Delivery and acceptance

Final action with a deed that transfers title.

8

Grantee

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

9

Granting clause

ords within the deed of conveyance that state grantor's intention to convey the property. This clause generally is worded a "convey and warrant", "grant", "grant, batgain, and sell", or the like.

10

Grantor

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

11

Habendum

Clause as part of deed beginning with "to have and to hold", following the granting clause, and defining the extent of ownership the grantor is conveying.

12

Legal description

A description of a specific parcel of real estate complete enough for an independent surveyor to locate and identify it.

13

Metes and bounds

A legal description of a parcel of land that begins at a well-marked pint and follows the boundaries, using direction and distances around a the tract to the pace of beginning.

14

Monument

A fixed natural or artificial object used to establish real estate boundaries for metes-and-bounds description. Today monuments ususally reinforcing bars, called rebars, bearing the surveyor's initials.

15

Point of beginning (POB)

Description starts a this designated point.

16

Quitclaim deed

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

17

Rectangular survey system system

A system established in 1785 by the federal government providing for surveying and describing land by reference to principal meridians and base lines, outside the 13 original colonies. Not used in New Jersey, more common in the western part of the US.

18

Section

A portion of a township under the rectangular survey system. A section is a square mile-long sided and an area of one square mile, or 640 acres.

19

Township

The principal unit in the rectangular survey (government survey) system, a square with six-mile sides and an area of 36 square miles.

20

Warranty deed (general warranty deed, full covenant and warranty deed)

A deed in which the grantor fully warrants good clear title to the premises.