Chapter 20 - Transfer of Title Flashcards Preview

New Jersey Real Estate Prelicensing Course > Chapter 20 - Transfer of Title > Flashcards

Flashcards in Chapter 20 - Transfer of Title Deck (14):
0

Administrator

Named by the court if no executor is named to oversee Administation and distribution of the estate.

1

Adverse possesion

the actual,visible, hostile, notorious, exclusive, and continuous possession of another's land under a claim of title.

2

Descent

Statues dealing with how title to real estate and personal property passes when owner dies intestate.

3

Executor

a male person, corporate entity,or any other type of organization designated in a will to carry out its provisions. female version - executrix.

4

Heir

One who inherits property under a will; one who will inherit under the state law of descent when someone dies intestate.

5

Intestate

The condition of a property owner who dies without a will.

6

Involuntary alienation

Transfer of property without owners consent, usually carried out by operation of the law, ranging from government condemnation of land for public use to a sale of property to satisfy delinquent tax or mortgage liens.

7

Last will and testament

An instrument made by an owner to voluntarily convey title to the owner's property after his or her death.

8

Probate

The judicial proceeding to confirm the validity of a will.

9

Testate

Dies with a will.

10

Testator

One who signs a will.

11

Voluntary alienation

Transfer of title made by gift, sale or exchange.

12

Seisin

The possession of land by someone who claims to own at least an estate for life therein.

13

Adverse possession

Is another means of involuntary transfer when someone takes possession and uses the land of another.