Term
| 5 things a valid deed must include |
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Definition
- Identification of the parties
- Consideration given for the conveyed interest
- Legal description of property
- Specification of the interests conveyed
- Signatures of the proper parties
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Term
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Definition
| When a deed is properly signed or subjected to all requirements that establish its validity. |
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Term
| A deed includes 4 covenants and a warranty. Name them. |
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Definition
- Covenant against encumbrances
- Covenant of seisin or ownership
- Covenant of quiet enjoyment
- Covenant of further assistance
- Warranty forever (guarantee that the statements made are true)
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Term
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Definition
| The broadest type of all deeds. The grantor assures the grantee that no liens or encumbrances other than those on public record exist against the property. |
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Definition
| Grantor only guarantees that which occurred during grantors ownership of the property. |
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Term
| Bargain and sale deed. Also called warranty deed without covenants or a grant deed. |
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Definition
| A deed stating grantor has title and a right to convey it, but does not contain any covenants as to the title's validity. |
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Definition
| transfers any interest that the grantor may have in the property described but does not imply that the grantor has any valid interest in it. |
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Definition
| One that is free and clear of all past, present, or future claims that would cause a reasonable purchaser to reject the title. |
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Definition
| One that a title company is willing to insure. |
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Term
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Definition
| Statement made by a lawyer that summarizes findings disclosed by a search through all public documents that may relate to the title. |
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