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Unit 19
| Term | Definition |
|---|---|
| Acknowledgement | A formal declaration made before a duly authorized officer, usually a notary public, by a person who has signed a document |
| Bargain and Sale Deed | A deed that carries with it no warranties against liens or other encumbrances but that does imply that the grantor has the right to convey title |
| Bargain and Sale Deed with Covenants | A deed in which the grantor warrants or guarantees the title against defects arising during the period of his or her tenure and ownership of the property but not against defects existing before that time |
| Benchmark | A permanent reference mark or point established for use by surveyors in measuring differences in elevation |
| Covenant | Agreement written into deeds and other instruments promising performance or nonperformance of certain acts or stipulating certain uses or non uses of the property |
| Datum | Point from which elevations is measured. Mean sea level in NY harbor, or local datum |
| Deed | A written instrument that, when executed and delivered, conveys title to or an interest in real estate |
| Delivery and Acceptance | Final action with a deed that transfers title |
| Grantee | A person who receives a conveyance of real property from the grantor |
| Granting Clause | Words in a deed of conveyance that state grantor's intention to convey the property. This clause is generally worded as "convey and warrant", "grant", "grant, bargain, and sell", or the like |
| Grantor | The person transferring title to or an interest in real property to a grantee |
| Habendum Clause | The part of a deed beginning with the words "to have and to hold", following the granting clause, and defining the extent of ownership the grantor is conveying |
| Legal Description | A description of a specific parcel of real estate complete enough for an independent surveyor to locate and identify it |
| Metes and Bounds | A legal description of a parcel of land that begins and ends at a well-marked point and follows the boundaries, using direction and distances around the tract back to the place of beginning |
| Monuments | A fixed natural or artificial object used to establish real estate boundaries for a metes-and-bounds description |
| Point of Beginning (POB) | In metes-and-bounds legal description, the starting point of the survey, situated in one corner of the parcel. Also called the place of beginning |
| Quitclaim Deed | A conveyance by which the grantor transfers whatever interes he or she has in the real estate, if any, without warranties or obligations |
| Rectangular Survey System | A system established in 1785 by the federal government providing for surveying and describing land by reference to principal meridians and base lines, outside the 13 original colonies |
| Section | A portion of a township under the rectangular survey (government survey) system. A section is a square with a mile-long side and an area of one square mile or 640 acres |
| Township | The principal unit of the rectangular survey system, a square with six-mile sides and an area of 36 square miles |
| Warranty Deed | A deed in which the grantor fully warrants good clear title to the premises |
Created by:
MAK89
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