Titles (overview) Flashcards
(14 cards)
What is legal title?
Legal title is ownership of a freehold estate
Legal title signifies the formal right to ownership recognized by law.
What is equitable title?
Equitable title implies an individual will receive legal title at a future date
What is alienation?
Alienation is the act of transferring ownership, title, or an interest in real property
Alienation can occur through various means, both voluntary and involuntary.
Is alienation voluntary or involuntary?
Can be either/or
Voluntary alienation is typically through sale or gift, while involuntary can occur through legal processes.
What are the 2 methods for voluntary alienation?
- Deed
- Will (testate)
A deed is a legal document that conveys property ownership, while a will specifies property distribution after death.
What does ‘testate’ mean?
‘Testate’ means that someone died having made a valid will
This ensures that the deceased’s wishes regarding property distribution are respected.
What are the 4 methods for involuntary alienation?
- Descent (intestate)
- Escheat to the state
- Adverse possession
- Eminent domain
These methods involve legal processes that may not require the owner’s consent.
What is descent (intestate)?
Intestate means they died without a valid will
In such cases, property is transferred to relatives according to state laws.
What happens during descent?
Descent is when your property is transferred to your relatives because you didn’t leave a will
The transfer occurs automatically to heirs based on established laws.
What is a devisee?
A devisee is someone who inherits property, as named in a will.
What is escheat?
The government takes control of the property when there is no will and no heirs
Escheat ensures that unclaimed property is managed by the state.
What is adverse possession?
The property is seized by another
This occurs when someone occupies land without the owner’s permission and meets specific legal requirements.
What is the acronym for conditions for alienation by adverse possession?
HOT CAN
This acronym helps remember the necessary conditions for claiming adverse possession.
What does HOT CAN stand for?
- H - Hostile possession
- O - Open possession
- T - Taxes paid by adverse possessor
- C - Claim of title
- A - Adverse possession continues for seven or more years
- N - Notorious public possession
Each element is crucial for establishing a valid claim of adverse possession.
