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CHAPTER SIX

TRANSFER

QuestionAnswer
Statutory deeds _____ bargain and sale: "I own, won't defend"
_____ general warranty: "I own, will defend"
____ special warranty: "I own, warrant myself only"
____ quitclaim: "I may or may not own, won't defend"
Special purpose deeds : for various purposes, to _________ certain __________, or by certain _______________.
Transfer tax -- state tax on conveyances based on price _____________________________
WILLS : last will and testament: ________________ _____________ to heirs after death.
Transfer tax -- state tax on conveyances based on price ___________________________________________________________________
WILLS : last will and testament: ________________ _____________ to heirs after death.
maker: _____________ or ___________; heir: ______________; estate: ______________
Types of will witnessed- ____________________________________________
holographic ____________________________________________
approved_____________________________________________
Validity -- adult & competent; indicates "last will and testament" is ____________________, _________________, and _______________________.
Probate --- if one dies ____________ then the estate passes to heirs; If one dies ______________ then property passes to successors by ___________; If one dies intestate with no heirs... then property ____________ to state or county .
The process is to.... validate will; validate or ________ claims and pay taxes;
_____________ balance of estate to heirs
Descent and ______________: no will Foreclosure: lose title by _________ Eminent domain: lose title________ Adverse possession: by claim of right or ________.
Must be a _______, __________, & _______________ possession; may have to pay taxes on claimed property.
Estoppel: ______________________
legal: _____________________________________________________________ equitable:
Evidence of ownership to the public :
________________ ___________: knowledge acquired or imparted directly ________________ ___________________, e.g., presenting or inspecting deed, visiting party in possession
______________________ ________________: knowledge one could or should
have obtained, as presumed by law; ________________________by recording
voluntary--- by ___________, __________, or __________________
involuntary ---by ________________ ____________________
Voluntary conveyance _____________________________________________ ____________________
legal title transfers upon competent _____________________________ and grantee's _____________________________.
Torrens-- how does title transfer? ________________________________________________________________
Delivery and acceptance :
Validity --- grantor, grantee:
granting clause, ________________________________________________
consideration, __________________________________________________
grantor's signature, ______________________________________________
acknowledgment, ______________________________________________
delivery, _______________________________________________________
acceptance ____________________________________________________
premises clause: ________________________________
habendum clause: ____________________________________________________________
reddendum clause: ______________________________________________
tenendum clause: _________________________________________________
seizin; __________________________________________________________
A deed warrants:
quiet enjoyment; __________________________________________________
further assurance; ________________________________________________
forever; __________________________________________________________
encumbrances; ___________________________________________________
grantor's acts _____________________________________________________
Created by: Mz Jade
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