Flashcards in N13 Deeds & Title Insurance Deck (45)
The document that transfers ownership of real property.
The parties to a deed.
Grantor and Grantee
The four types of deeds of conveyance used in Arizona are:
a. Warranty Deed (General Warranty Deed)
b. Special Warranty Deed
c. Bargain & Sale Deed
d. Quit Claim Deed
The differences in the types of deeds is in the _______ given by the grantor to the grantee
The deed that warrants the title against all claims.
The deed that protects the grantee against all claims arising out of the grantor’s acts is the __________.
Special Warranty Deed
The deed that contains no expressed warranty but has the implied warranty that the grantor has the authority to convey title is the __________.
Bargain & Sale Deed
The deed that provides no warranties whatsoever.
Quit Claim Deed
The instrument that originally conveys title from government ownership to private ownership is a ______.
Patent (Land Patent)
A deed that specifies who will receive ownership of the property when the grantor dies is a ___________.
A beneficiary deed takes effect when the _______.
A document signed by a spouse to indicate that the spouse has no interest in the property is a _________.
The covenant in a deed that assures the grantee that there are no undisclosed encumbrances on the property is the ________________.
Covenant Against Encumbrances
The covenant in a deed that provides assurance that the grantor is the owner and has power to convey title is the ______________.
Covenant of Seizen
The covenant in a deed that assures the grantee that the grantee’s use will not be disturbed due to title defects is the ___________________.
Covenant of Quiet Enjoyment
The covenant in a deed that requires the grantor to correct title defects or defects in the deed itself is the ________________.
Covenant of Further Assurances
The covenant in a deed by which the grantor promises to compensate the grantee for losses if the title is faulty is the _____________________.
Covenant of Warranty Forever
The clause in a deed that includes the words of conveyance is the ___________.
The clause in a deed that defines the interest being transferred is the ______________________.
Habendum Clause aka Have and To Hold Clause
The clause in a deed stating the date signed and by whom it was signed is the _____________.
Testimonium Clause aka Witness Clause
The three requirements for a deed to be valid are:
a. Signed by the Grantor (Signed)
b. Acknowledged by the Grantor (Sealed)
c. Delivery to and Acceptance by the Grantee (Delivered)
The clause in a deed by which the grantor may hold back some interest and which notes all the exceptions to clear title such as liens and encumbrances is the __________.
Reservation and Exception
An acknowledgement is also called.
Does the deed have to be recorded?
Recording a document gives ________ to the world.
Notice obtained from an inspection of the property or by being given knowledge of a fact is ________.
In Arizona, the document that must accompany a deed in order for the deed to be recorded is an _____________.
Affidavit of Value
The purpose of an Affidavit of Value is to inform the _______ as to the ______.
Assessor, Sales Price
An Affidavit of value must be signed by both _____.
Buyer and Seller