Legal Descriptions and Deeds

Question 1

legal description

Answer 1

an exact way of describing real estate in a contract, deed, mortgage, to other document

Question 2

metes-and-bounds

Answer 2

land description that makes use of boundaries and measurements of land in questions

Question 3

point of beginning (POB)

Answer 3

a surveyor’s mark at the beginning location for the wide-scale surveying of land

proceeds clockwise

Question 4

monuments

Answer 4

fixed objects used to establish real estate boundaries

Question 5

rectangular survey system

Answer 5

based on principal meridians and base lines (longitude and latitude)

Question 6

townships

Answer 6

principal unit of rectangular survey method (not used in NJ)

square w area of 36miles

Question 7

sections

Answer 7

portion of township under rectangular survey method

1 square mile area

Question 8

datum

Answer 8

a point, line, or surface from which elevations are measured

Question 9

benchmarks

Answer 9

permanent reference point established for the use by surveyors in measuring differences in elevations

Question 10

sufficient description of condo must include______

Answer 10

1. description of land n which building is located
2. designation of unit conveyed as listed
3. description of common interest conveyed with unit

Question 11

grantor

Answer 11

the owner (person who has the title to give)

Question 12

grantee

Answer 12

the new owner of land (who acquires grantor’s land)

Question 13

most common forms of deed in NJ

Answer 13

1. full covenant and warranty deed
2. bargain and sale deed (with covenants and grantor’s acts)
3. bargain and sale deed (no covenants)
4. quitclaim deed

Question 14

warranty deed

Answer 14

provides greatest protection of any deed; grantor is legally bound by covenants

Question 15

covenants

Answer 15

agreement written into deeds and other instruments promising performance/nonperformance f certain acts stipulating certain uses/nonuses of the property

Question 16

bargain and sale deed with covenant

Answer 16

provides the grantee with a covenant that the grantor has not committed any act that would encumber title to the real property being conveyed

Question 17

bargain and sale deed

Answer 17

contains no express warranties, but implies the grantor holds title to property

Question 18

quitclaim deed

Answer 18

provides the grantee with the least protection of any deed

carries no covenants or warranties

operates to convey to the seller’s interest in the property to the buyer

Question 19

granting clause

Answer 19

words that convey the property

Question 20

habendum clause

Answer 20

defines/explains the ownership to be enjoyed

contains “to have and to hold”

Question 21

requirements for a valid conveyance

Answer 21

1. granter must have legal capacity to execute
2. grantee names with reasonable certainty
3. recital of consideration
4. granting clause
5. designation of any limitations on conveyance

Question 22

consideration

Answer 22

something of value offered by one party and accepted by another as an inducement to perform some act

Question 23

for a deed to be valid it must contain_____

Answer 23

an adequate description of the real estate conveyed

Question 24

to be valid, a deed must be signed

Answer 24

by all grantors named in the deed

Question 25

acknowledgement

Answer 25

declaration made by a person who is signing a document before a notary public/authorized public officer provides evidence that signature is genuine

Question 26

delivery and acceptance

Answer 26

actual delivery of the deed by grantor and actual/implied acceptance by grantee

Question 27

Three rules when corporation convey real estate

Answer 27

1. can convey only upon proper resolution is passed by board of directors 2. resolution authorizing the sale must be secured from stockholders 3. deeds to real estate can be signed only by authorized officer

Question 28

three methods to describe land

Answer 28

1. metes and bounds 2. rectangular survey method 3. reference to a plat field in county where land is

Question 29

covenant of seisin

Answer 29

the grantor warrants they own the property and has the legal right to convey it.

Question 30

covenant against encumberancecs

Answer 30

warrants the property is free from liens or encumbrances outside those stated in the deed

Question 31

covenant of quiet enjoyment

Answer 31

grantee's title is good against third parties who might bring court action to establish superior title

Question 32

covenant of further assurance

Answer 32

grantor promises to deliver instruments needed to make the title good

Question 33

covenant of warranty forever

Answer 33

grantor will compensate grantee if title fails

Question 34

township (in NJ)

Answer 34

references towns and boroughs, each which is a separate entity