Deeds Flashcards
(22 cards)
What are the three types of deeds?
(1) warranty deed (2) special or limited warranty deed (3) quitclaim deed.
What is a warranty deed?
grantor personally makes the standard warranties regarding the title being transferred
What is special or limited warranty deed?
grantor personally makes some, but not all, of the standard warranties regarding the title being transferred.
What is a quitclaim deed?
grantor conveys what the grantor has but does not warrant that the grantor has anything. In effect, a release.
Elements of a typical deed?
(1) the premises (2) the habendum (3) the reddendum (4) warranties of title (5) signatures (6) acknowledgement
Is a seal required on a deed?
Not under modern law
Who has to sign a deed?
Grantor
Are witnesses needed in Texas?
No
What are the three types of land descriptions of property?
Metes and bounds; rectangular survey system; lot and block (plat map)
What are the three recording systems?
Race; Race-notice; Notice (texas)
What is the shelter rule?
a. If you aren’t involved in the underlying fraud, then the status of BFP follows the grant of land, so Z can maintain interest in the land.
What is a covenant of title?
grantor promises (warrants) that the title is good. Reliance on grantors ability to pay if title is defective
In Texas, a quitclaim deed means?
a. Grantor has not conveyed the property to someone else; no encumberances unless disclaimed in deed.
Under the warranty deed, what are the 3 present covenants?
Covenant of seisin; covenant of good right to convey; covenant against encumbrances
What is a covenant of seisin?
promise that grantor owns the property transferring; promise that grantor has not already transferred the property
What is the covenant of good right to convey?
grantor has right to transfer the property
What is the covenant against encumbrances?
property free and clear of all non-agreed easements, mortgages, liens, covenants, servitudes
Under warranty deed, what are the 3 future covenants?
Covenant of quiet enjoyment; covenant of warranty; covenant of further assurances
what is covenant of quiet enjoyment?
no one with better title will evict grantee
What is covenant of warranty?
grantor will defend title (grantor will protect grantee quiet enjoyment)
What is covenant of further assurances?
grantor will take steps reasonably necessary to protect or perfect grantees title.
What are the elements of adverse possession?
(1) actual possession for required number of year (2) open, visible and notorious (3) exclusive (4) continuous and peaceable (5) hostile (6) under claim of right (7) cultivates (8) pay property tax
