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58 Cards in this Set
- Front
- Back
A special form of written contract used to coney a permanent ownership interest in real property
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Deed
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The person or entity conveying the real property interest
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Grantor
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The recipient of a conveyance of a real property interest
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Grantee
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Early in the deed will be words such as "does hereby grant, bargain,sell, and convey unto.." that serve to assure the grantor clearly intends to convey an interest in real property and indicates the type of deed offered by the grantor
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Words of conveyance
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Legally binding promises for which the grantor because liable
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Covenants
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A promise that the grantor truly has good title and the right to convey it
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Covenant of seizin
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A promise that the property is not encumbered with liens, easements, or other such limitations except as noted in the deed
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Covenant against encumbrances
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A promise that the property will not be claimed by someone with a better claim to title
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Covenant of quiet enjoyment
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Clause in a deed that defines or limits the type of interest being conveyed
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Habendum clause
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A clause in a deed that can contain a wide variety of limits on the property interest conveyed
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Exceptions and reservations clause
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Confirms that the deed is, in fact, the intention and action of the grantor. It is accomplished by having the grantor's signature notarized
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Acknowledgement
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An observable, verifiable intent that the deed is to be given to the grantee.
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Delivery
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A deed that contains the full set of legal promises, seizin, no encumbrances, and the covenant of quiet enjoyment. "Highest-quality" deed.
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General warranty deed
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Identical to a general warranty deed except that the covenant against encumbrances applies only to the time that the grantor owned the property
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Special warranty deed
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A deed that conveys the land itself rather than ownership interest through warranties
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Bargain-and-sale deed
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Deed that conveys an individual's property rights to another but has none of the covenants to the warranty deed
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Quitclaim deed
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Title to real property that is free of reasonable doubt
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Marketable title
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To convey certain lands of a subdivision to the local government
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Dedicate
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A deed issued as a result of court-ordered proceedings
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Judicial deed
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A deed issued by the trustee in a court-supervised disposition of property
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Trustee's deed
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Special kind of deed that conveys title to real property owned by the government to a private party
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Patent
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In accordance with a will
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Testate
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Without a will
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Intestate
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State law that governs the disposition procedure of the conveyance of real property up the death of a property owner
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Probate
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Conveyance or distribution of a decedent's real property through a will
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Devised
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The laws and procedures controlling how a state will convey a decedent's estate among the heirs if no will exsists
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Law of descent
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A right of use not created by an explicit deed or explicit clause in a deed. It is often created when a subdivision map is placed in the public records
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Implied easement
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Am implied right of use that llows the owner of a landlocked parcel the right to use a previously existing path across another property for access and egress
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Easement by prior use
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A created implied right of use that allows the owner of a landlocked parcel the right to use a path across another property for access and egress
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Easement of necessity
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The right of use created if a landowner gives an adjacent landowner permission to depend on her land
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Easement by estoppel
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The acquisition of a right of easement by open, notorious, and continuous assertion of the right, hostile to the subservient land owner's interest. The amount of time required to attain the right of easement by prescription varies by state
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Easement by prescription
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Involuntary conveyance of real property rights by an individual demonstrating use that is 1. hostile to the interests of the owner 2. actual, 3. open and notorious, 4. continuous, 5. exclusive
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Adverse possession
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Growth in size by addition or accumulation of soil to land by gradual, natural deposits.
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Accreation
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Receding water line that leaves dry land to be added to an adjacent landowner's property
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Reliction
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The common law tradition holds that a person cannot be bound by claims or rules he or she has no means of knowing.
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Doctrine of constructive notice
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Provisions adopted by all states requiring that all deeds, long-term leases and mortgages must be in writing to be enforceable. Derives from the original Statute of Frauds on 1677.
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Statute of Frauds
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Laws that require that a document conveying an interest in real property must be placed in the public records to be binding on the public.
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Recording of statutes
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an assertion of real property interests that is open, continuous, and apparent to all who examine the property.
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Actual notice
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The task of examining the evidence of title in the public records
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Title search
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A set of deeds and other documents that traces the conveyance of the fee, and any interests that could limit it, down from the earliest time to the current owner
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Chain of title
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The compilation of all documents summarizing the chain of title into a chronological colume and then given to an attorney for final interpretation
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Title abstract
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Substantiation that demonstrates that good and marketable title is being conveyed as part of a real estate transaction
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Evidence of title
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Traditional evidence of title
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Title abstract with attorney's opinion
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A commitment to issue a title insurance policy
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Title insurance commitment
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Insurance paying monetary damages for loss of property from unexpected superior legal claims or for litigation to protect title. Deemed superior to the traditional abstract with opinion since it offers insurance, in addition
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Title insurance
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Unauthorized intrusion of a building or other improvements onto property owned by another
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Encroachments
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A rarely used means of providing evidence of title
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Torrens certificate
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State laws intended to limit the number of years that title search must "reach back" though the title "chain"
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Marketable title laws
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Method of describing real estate in which mete is a unit of measure and a bound is a boundary marker. Essentially, a sequence of directed distances that are the boundaries of the property
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metes and bounds
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An unambiguous means to provide a description of property that identifies each parcel in a surveyed map of a subdivision
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plat lot and block number
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A line running east-west
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baseline
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A line running north-south
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principal meridian
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24 mile square
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Checks
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6 mile square
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Townships
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1 mile square
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Sections
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Lines that separate townships by east and west
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Range lines
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Lines that are numbered north or south from the baseline, which parallel the baseline
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Tier lines
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A measure of land area, with no specific configuration, containing 43,560 square feet.
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Acre
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