Transfer of Title Flashcards Preview

Real Estate Practice > Transfer of Title > Flashcards

Flashcards in Transfer of Title Deck (16)
1

General Warranty Deed

A deed in which the grantor fully warrants good clear title to the premises. Used in most real estate deed transfers, a general warranty deed offers the greatest protection of any deed.

2

Covenant of seisin

The grantor warrants that he or she owns the property and has the right to convey title to it.

3

Covenant against encumbrances

The grantor warrants that the property is free from liens or encumbrances, except for any specifically stated in the deed.

4

Covenant of quiet enjoyment

The grantor guarantees that the grantee's title will be good against third parties who might bring court actions to establish superior title to the property.

5

Covenant of further assurance

The grantor promises to obtain and deliver any instrument needed to make the title good.

6

Covenant of warranty forever

The grantor promises to compensate the grantee for the loss sustained if the title fails at any time in the future.The grantor defends the title against both himself or herself and all those who previously held title.

7

special warranty deed

contains two basic warranties:
1) That the grantor received title
2) That the property was not encumbered during the time the grantor held title, except as otherwise noted in the deed.

generally contains the words: "Grantor remises, releases, alienates, and conveys."

8

bargain and sale deed

contains no express warranties against encumbrances. It does, however, imply that the grantor holds title and possession of the property.

9

quitclaim deed

provides the grantee with the least protection of any deed. It carries no covenants or warranties and generally conveys only whatever interest the grantor may have when the deed is delivered.

10

deed of trust

is the means by which a trustor conveys real estate to a trustee for the benefit of a beneficiary.

11

reconveyance deed

used by a trustee to return title to the trustor.

12

trustee's deed

It is used when a trustee conveys real estate held in the trust to anyone other than the trustor. The trustee's deed must state that the trustee is executing the instrument in accordance with the powers and authority granted by the trust instrument.

13

deeds executed pursuant to a court order

These deeds are established by state statute and are used to convey title to property that is transferred by court order or by will. One common characteristic of deeds executed pursuant to court order is that the full consideration is usually stated in the deed.

14

probate

A legal process by which a court determines who will inherit a decedent's property and what the estate's assets are.

15

testator

person who makes a will

16

devise

a gift of real property by will. The donor is the devisor, and the recipient is the devisee.