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Unit 4
| Question | Answer |
|---|---|
| common law dedication | occurs when landowner devotes land to a public use, as when a roadway is opened to public use or described as such in deeds to adjoining parcels.an appropriation of land for some public use, made by the fee owner, and accepted by the public. |
| statutory dedication | Transfers an easement for the intended public use, (although transfer of fee simple ownership by deed is becoming the preferred method of the public acquisition). Fee simple title preserves the public character of the land despite of the failure of the su |
| Alienation by operation of law or court action | Its possible to bring a legal action in court for the purpose of clearing or establishing title to real estate, despite the opposition of the owner of record |
| Alienation | (transfer) title may be involuntary without the original owner's consent |
| An action to quiet title | brought toforce others who have claims to the property to prove those claims or have the claims ruled invalid by court.This is the usual method of est title by adverse possesion and of clearing tax titles or title acquired on a forfeited contract of sale |
| Partition Action | is brought by a co owner of property to force a severance of the co owners respective interests.can be a tenantincommon or a joint tenant.The property is divided, if possible, or sold. After a sale, the court divides the proceeds according to ownrs share |
| power of sale | gives trustee under a trust deed the ability to sell the property to satify the unpaid debt if the debtor defaults. it gives your lender the right to sell your home and use the proceeds to pay your outstanding balance if you fail to pay your mortgage. |
| Judicial foreclose action | the holder of a trust deed, mortgage, or other lien o n property requests a court supervised sale of the property to cover the unpaid balance on the delinquent debt |
| action for declaratory relief | The parties petition the court for a determination of their respective rights before a controvery arises. When a deed is ambiguous, an action for declaratory relief may be brought to avoid later problems |
| execution sale | party wins a legal action may receive a judgement from the court that includes the award of money damages against the losing party. the holder of the judgement can file the j. in any county in state which debtor owns property&then seek a writ of execution |
| writ of exection | court order directing the county sherrif or another officer to satisfy a judgement out of the debtors property.Prop. avail. to satisfy the judge. included any non exempt real prop owned by the debtor.Prop is sold at auction and proceeds used to pay judge. |
| certificate of sale | when personal property is sold at auction, buyer recieves a certificate of sale |
| Sherriff's Deed | When real property is sold at auction, buyer recieves a sherriff's deed. The officer who conducts the sale must record a duplicate of the sherrif's deed in the office of the county recorder |
| Forfeiture | occurs if a condition subsequent in a deed is breached. he grantor (or grantor's successor) then has the right to reacquire title |
| Bankruptcy | The U.S. congress has sole authorit to enact the bankr. laws. it enforces those laws through the federa bankr. courts. in a liquidation bankr, a debtors property is sold to cover debts, The trustee in bankruptcy carries out the sale,buyer reci trusteedeed |
| Marriage | Property acquired during marriage or by registered domestic partners thats not separate property is community prop. by operation of law.1 spouse acting alone cant defeat the other spouses interest in that property |
| Escheat | CA law presumes every person who dies has an heir who could take title to the decendent's prop.Sometimes its impossible to locate an heir. |
| escheat part 2 | The attorney general acts on behalf of the state to bring a claim against the estate and if no claimant comes forward within 5 years, title to the property vests in the state (process is called escheat) |
| Eminent Domain | Fed and state gov have the right to acquire title to property by eminent domain. If property is for a public purpose (like highway construction) it is first subject to condemnation |
| condemnation | a process that gives notice to the property owner that the property is being taken.The property owner received compensation based on an appraisal, which usually is the property's fair market value (a price a property should bring on the open market |
| Inverse Condemnation | Property that has not been condemned is damaged or its use is affected by a nearby public activity. When that happens, affected property owners may seek money damages in a legal action claiming inverse condemnation |
| Inverse Condemnation part 2 | For instance, if a new highway blocks off the access road to adjoining properties, those properties will lose value. The property owners will expect to be compensated for the loss in value. |
| U.S. Supreme Court New London 2005 | held that private prop. can be condemned by a public entity for transfer to a new private owner to further economic development.Bush issued order 2006 limiting the fed gov's use of eminent domain to purposes that benefit the public |
| Prop 99 CA 2008 | amends the state constitution by prohibiting state and local gov from getting an owner occupied residence by eminent domain for conveyance to a private person or business entity with few exceptions |
| Equitable Estoppel | where a court will not grant a judgment or other legal relief to a party who has not acted fairly; for example, by having made false representations or concealing material facts from the other party. |
| Equitable Estoppel part 2 | The doctrine of equitable estoppel ( a common law theory meant to precent unjust enrichment) prohibits a refusal to make the transfer. It also prevents fraud of misrepresentation by the present owner of property |
| Equitable Estoppel part 3 | If a property owner misrepresents her ownership (whether by act or omission) to a person who then buys the property from another person who is the apparent owner, the true owner must convey the property to the innocent party |
| EX: Max owns Blackacre but doesnt want Jose to know. When Max, Jose, and Carlo are together, Jose asks Max and Carlo if one of them owns Blackacre Carlo says he owns Blackacre and Max doesnt object. Jose then pays Carlo for prop. Who owns Blackacre? | Jose owns. Max is equitably estopped from denying Jose's ownership. By his conduct, Max allowed Jose to believe he was buying Blackacre from Carlo. Max will be left with an action for damages against Carlo, who has pocketed the money Jose paid for Blacka. |
| EX 1: George married Helen January 2008. In March 2010, Helen's father died, leaving Helen his condominium in Palm Springs. Who owns the condominum and in what form of ownership? | Helen owns the condo as a separate property |
| EX 2: George and Helen, who married in 2008, purchased a house in 2012. Who will the law presume to own the house and in what form of ownership? | George and Helen own the house as community property |
| Ex3:in 2016, George and Helen are notified by the city that their property is being considered as the site of a new sports arena. They protest the city's plans at a public hearing but are unsuccessful in halting the construction. Can the city take house? | Yes, by the power of eminent domain |
| EX 4: George and Helen paid $746,000 for their house in 2012. in 2016, the city offers them $746,000 for the property. Do they have to accept? | Perhaps not, George and Helen are entitled to the fair market value of their home, which may have appreciated from its initial purchase price. if property values have decreased since they purchased their home, George and Helen would be smart to acceptoffr |
| EX 5: George decides to leave his half of the community property he owns with Helen to his sister Davida and has a will drawn up to that effect. When George dies, Helen is surprised when Davida claims to own half of "her" home. Can George do that? | Yes, community property may be willed by its owner |
| EX6:Angel knows squatters moved onto "back40" of his ranch and put up a fence.Angel too busy to take action.Hears squatter builds house, Angel doesnt object.He feels smug someone stupid to build a house on his land-and pay taxes, to boot. | No, because the "squatters" have perfected title to the "back40" after 5 years of adverse possession |
| EX 6 pt 2: 6 years later, Angel tried to sell his ranch but the buyer says that he cant get a loan because Angel doesnt have clear title to all of the land. Angel brings an action to quiet title in court. Will he Win? | No, because the "squatters" have perfected title to the "back40" after 5 years of adverse possession |
| EX7: Tim holds a mortgage on the house of Sara Nelson, who is having financial difficulties and missed all of her mortgage payments for the oast 6 months. What can Tim do? | Tim can bring a foreclosure action to force the sale of the property |
| EX8: Uncle Henry died without a will? Did he die intestate? What is the name of the legal process by which his property will be distributed to his heirs? | Henry died intestate. The law of intestate succession will be enforce through the legal process known as probate |
| EX9: Lydia and MIguel own a small resort on the Colorado River with 200 ft of lawn on a small bluff overlooking the river. Following torrential rains and floowing, Lydia and Miguel find they have only 130 ft of lawn area. What happened to 70ft of ground? | The other 70ft of the property were lost in the flood by a process called avulsion |
| Deed | written instrument that, when properly executed, delivered, and accept, conveys title to real property. |
| Title is conveyed by | Grant (transfer) from one person (grantor is the owner) to another (grantee) |
| Transfer of title by deed may be: | the voluntary or involuntary act of the parties, as in the case of a foreclosure sale when title is transferred by operation of law |
| If all of the requirements for a valid deed are not met, | the deed may be questioned even years after the property has been conveyed |
| Requirements for a valid deed | 1. must be in writing 2. a description of the parties (full name and marital status of each should be given 3.Grantor must be legally capable of executing a written conveyance. This means the sound mind. |
| Requirements for a valid deed part 2 | Requirements are the same as those to create a valid contract an incompetent or a minor but cant be a fictitious person. 4) must be an adequate description of the property being conveyed, preferably using one or more of the methods. |
| Requirements for a valid deed part 3 | 5.)must be a granting clause which the necessary language of conveyance is used. Such as the words grant or convey. The words "to have and to hold" are not necessary 6.) Deed must be signed by the grantors |
| Requirements for a valid deed part 4 | 7.) deed must be delivered to the grantee and accepted by the grantee. The grantor must have the present intention of conveying and the ability to convery the property |
| EX: Ted gives as deed to Nicole, telling her it will take effect on his death, is the deed valid? | The deed is not a valid conveyance, even at ted's death.Delivery means exactly that, the grantor holds nothing back, there can be no conditions |
| example explained: The deed is not a valid conveyance, even at Ted's death. Delivery means exactly that- the grantor holds nothing back, there can be no conditions | Its possible to deliver a deed to a 3rd party to be released to the grantee on the fulfillment of a condition precedent.however, the acceptance is conditioned, not the delivery. a cond. subsequent might be placed in the deed itself that would invalidate |
| example explained part 2 | ...that would invalidate it if the grantee failed to fulfill the condition. |
| Note although theres no legal requirement that a deed be dated, in practice, dating a deed is preferred because delivery and acceptance will be presumed to have occured on that date | Remember: a deed is not a contract.It has different elements and is subject to different rules regarding validity. A deed (unlike a contract) doesnt need to be supported by consideration, that is,thegrantee doesnt need to pay anytng in return for convyeya |
| if fraud is suspected, as when property is deeded without consideration or with nominal consideration,say $10, shortly before the grantor declares bankruptcy, the deed may be set aside in court | theres no legal requirement that a deed be witnessed, that the grator's signature be verified by any 3rd person, or that the deed be recorded in the county recorder's office. These steps are practicaly necesities to prevent future issues |
| EXERCISE 4-2 | Assuming all other requirements have been met, has a valid deed been created in eachof the following cases? |
| 1.Gerald is selling geenacre(fam estate).Hes out of town at time sale is closing.calls broker to proceed with sale and deliver possess. to buyer. He intends to sign deed when he returns | No, no valid transaction can take place unless and until the grantor signs the deed |
| 2. Nellie is capable of caring for herself.Roberta(niece) takes Nellie into her home.In return, Roberta asks Nellie to deed her condo to her.Nellie doesnt realize whats happening. Roberta guides her hand as she signs deed. who owns condo? | Aunt Nellie still owns the condo, for she was incapable of making a valid deed |
| 3.Jed is a high powered r.e. investor.He persuades Sol to sell him a 20 unit apt in San Diego.Jed is anxious to get prop. & tells Sol to convey the prop to him over the phone wile his secretary takes notes. Jed tells Sol, "ur word is good as gold" | There has been no conveyance, a deed must be in writing |
| 4.Angela agrees to selll her farm to her friend Diego. the deed from angela describes the property as " the old dell place, including 100 acres, more or less" does diego have a problem? | Diego may have a problem, the property description may be adequate, but only if there is no ambiguity (unclear) as to the referenced parcel |
| 5.Anthony gves Richard (nephew) the Hillsborough estate as a present.He prepares deed marked "to be opneed upon my death".He places the envelope i his safe deposit box. Will richard own te estate when his uncles dies? | Perhaps, but the title to the estate will pass through Uncle Anthony's will, if he has one, or by the laws of intestate succession, and not by the deed he prepared.Deed is invalid bcuz it never delivered to grantee |
| CA law requires most written instruments affecting title to real property be acknolwged before they can be recorded in the county recorders office. Besides deeds, those instruments include the folowing: | Loan documents, Agreement of sale, option agreements, deposit receipts, commision receipts,any affidavits concering one of these documents |
| a document doesnt have to be recorded to be valid. the process of recording is important,however, because its primary way to give notice to the world of an interest tht affects title to real estate | |
| Acknowledgement | a document is executed when its signed. A person who has executed a document can make a declaration called "ackknowledgement", that the execution is the person's own act, |
| An acknowledgement may be made... | anywhr within CA before an authorized official,typically a notary public-who cant be a party to the transac. or related to a party to the transaction,An ackn. may be made outside CA if local laws are followed and that fact is cerified by prsn tking ackn |
| Persons authorized to take acknowledgment in CA includes: | Judges, court, clerks, and notary publics |
| A notary public must: | in addition to signing the document, must stamp it with the seal required by the state.When notarizing a deed (including a quitclaim deed or deed of trust) the thumbprint of the grantor must be placed in the notary's official journal |
| An acknowledgment alone,without recording the document, serves as: | a notice of the conveyance to the parties and to persons knowing it. Possess. of the property involved also gives notice of ownership. |
| The legal protection of an acknowledged but unrecorded document is | not very great. the ordinary transaction does not involve many people, and only those who already know of the transaction are considered aware of it |
| Recording | The safest way of ensuring that one's title to property is unquestioned is by recording the deed that convey's the property. The deed is brought to the office of the county recorder in the county where the prop. is located |
| "First in time is first in right" | general rule. means that if more than one person claims title from the same grantor, the first to record a deed will be the successful claimant |
| To be recorded, a deed must: | give an address of the grantee to which tax bills can be sent. A county may add up to $2 to its recording fees for a Real estate Fraud Prosecution Trust Fund to help attorney and law enforce. agencies deter, investigate and prosecute prop. fraud crimes |
| Building the Chain of Title | Rcrder's office files instruments under the partie's names, so the full name of both grantor and grantee must be given. if grantors name is not given EXACTLY as appears in the conveyance of grantor, may not be possible to complete that "link" chainoftile |
| Most title searches are conducted by | tracking the grantor's interest backward in time, then tracking the first recorded grantee's interest forward. |
| Most title searches are conducted by part 2: | To discover all the links in the chain of title, the grantor of the present conveyance should be found as the grantee of a preceding conveyance, the grantor of that con. should be the grantee of an earlier conv. and so on |
| Although variance in the use of a middle name is not necessarily fatal to the validity of a deed, the better practice is use to the full name rather than an initial in place of the middle name | a fictious name (alias_ may be used to receive title to prop. provided the same name is used in any subsequent conveyance. Title cannot be conveyed to a fictious person, however. Title can be conveyed to a corp. because a corp is a recognized legal entity |
| The system of making documents a part of the public record works to the advantage of the property owner as well as a prospective buyer or lessee | The prop. owner is able to give constructive notice to the world of the fact of his ownership. |
| in theory, By inspecting the public record, the prospective buyer or lessee can have the confidence of knowing that hes dealing with the recorded owner of the property | The buyer or lessee still needs to verify that someone else isnt in possession of the property. Financing instruments are also recorded to give constructive notice of the lien rights of the lender |
| Grant deed | also known as a special or limited warranty deed, is a legal document used to transfer real estate between a previous owner (the grantor) and a new owner (the grantee).orded |
| The grator makes implied warratnies in executing a grant deed | These are items the granteee must assume to be true, or the deed would be meaningless. Implied warranties are legally enforceable even though they are not mentioned in the deed |
| The grantor warrants that: | the grantor's interest in the property has not already been conveyed, and there are no undisclosed encumbrances on the property, such as tax liens, brought about by the grantor or any person who might claim title from the grantor |
| Note that the grantor doesnt waeeant that she has a present interest in the property to convey | if grantor attempts to convey prop. the grantor will acquire after the execution of the grant deed, the deed will become effective at the time such after -acquired title is received by the grantor |
| The grant deed is the only form of deed that | conveys after-acquired title |
| Gift Deed | Although grant deed form leaves space for the consideration paid by the grantee, it may be used to convey prop. as a gift deed by supplying words "love and affection" as the consideration received |
| Gift Deed part 2 | such a conveyance may not be made to defraud creditors of the grantor |
| Quit Claim Deed | conveys an interest the grantor may have in the property at the time the deed is executed. No implied warranties are made by a quitclaim deed |
| Quit Claim Deed part 2 | there is no express or implied warranty that the grantor owns any interest at all in the property. Quit claim deed should never be used when a grant deed can be used |
| Quit claim deed does not ensure | that whatever interest the grantor may have in the prop is conveyed to the grantee. Quitclaim deed is a commonly used way of clearing a cloud on the title and eliminating any future claim by the grantor of the quitclaim deed. |
| There can be no after-acquired title with a quit claim | the grantor of a quitclaim deed remains liable for any loans made using the property as security |
| EX: Harvey Anderson bought Whiteacre after he married Anna, but Harvey used money from the sale of his sep prop to do so. When Harvey sold Whiteacre, he signed the deed as Harvey Anderson, a married man. His spouses didnt sign the deed. | The grantee of Whiteacre questioned the validity of that conveyance when years later a would-be purchaser was unable to acquire title insurance |
| EXAMPLE ANSWER | The cloud on the title of the present owner of Whiteacre was cleared by having Anna Anderson sign a quitclaim deed, relinquishing whatever claim she might have in the property |
| Warranty deed | Expressly warrants that the grantor has good title. a deed that guarantees a clear title to the buyer of real property. |
| Warranty deed part 2 | This form of guarantee, while attractive to a property buyer, could be devastating to a property seller. Its one reason why title insurance is required (particularly by lenders) in most transactions in CA. |
| By shifting the liability to the insurer, the seller can | be assured that there will be no future liability caused by an undiscovered defect in the seller's title.In turn, the buyer can rely on the resources of the title insurer if any problem covered by the title insurance should arise |
| Trust Deed | aka deed of trust, is used when property serves as security for a debt. The debt typically is the loan used to purchase the property, but it can be any loan using the prop as collateral to guarantee payment of the amount borrowed |
| When the purchaser of property borrows money to finance the purchase, the borrower (new owner) is the trustor (grantor) of the trust deed | The trusteee (grantee) is the party who holds title until the debt is paid. The beneficiary, the party on whose behalf the title is held, is the lender |
| If the underlying debt is not paid, | the trustee has the power to sell the property at a foreclosure sale and pay the beneficary the amount of the remaining indebtness from the proceeds, |
| Any money leftover would go to | the trustor. The purchaser would recieve a trustee's deed from the trustee |
| Reconveyance Deed | When a deed of trust/mortgage is paid in full, you can record a Full Reconveyance from the trustee stating publicly that the loan has been paid. |
| Sherrif's deed | Sherrif's deed is given to the purchaser at a court-ordered sale to satisfy a judgement. A sherriff's deed carries no warranties |
| Tax Deed | is issued by the county tax collector if property is sold because of nonpayment of taxes. |
| Transfer on Death Deed | A TOD deed is intended to be an inexpensive way to plan who inherits your home after you die |
| TOD part 2 | a revocable transfer of death (TOD) deed transfers real property on the death of its owner without a probate proceeding, providing it is lawfully created. |
| TOD part 3 | Grantor must have the capacity to contract to make or revoke tge deed, the deed must be in the required form, and it must be signed, dated, acknowledged, and recorded |
| TOD part 4, During the owner's life, the deed | does not affect ownership rights and is part of the owner's estate for the purpose of Medi-Cal eligibility and reimbursement |
| The TOD deed is only available for use on | a residence of one to 4 units, a condo, or a parcel of agriultural land of 40 acres or less that contains a residence |
| If at time of the owner's death, | the property is titled in joint tenancy or as community property with right of survivorship, the deed is void |
| the law establishes priorities for | creditor claims against the property owner and the beneficiary of the deed in connection with the property, as well as limits on the liability of the beneficiary. Theres also a procedure for contesting the transfer of real property by a revocable TOD deed |
| EXERCISE 4-3 | What type of deed would most likely be used in each of the following situations? |
| 1. All cash sale of a single family residence | Grant Deed |
| 2. Deed from possible former co-owner of property | QuitClaim Deed |
| 3. Loan secured by deed | Trust Deed |
| 4. Conveyance from grandfather to grandson in consideration of grandson's "love and affection" | Gift deed or grant deed |
| 5. Deed to someone who has just paid off a home loan | Reconveyance deed |
| 6. Deed received after purchase of property at a court-ordered sale | Sheriff's deed |
| a person who dies that leaves a will | testate |
| Testator | Decedent (person who died) can devise (leave (real estate) to someone by the terms of a will.) property to devisee (reciever) |
| By bequest, | a legacy of personal property can be transferred to a legatee.(gifts of property taken from an estate's general assets) |
| formal witnessed will | written document complying with legal formalities |
| holographic will | written entirely in the handwriting of the testator |
| the law of intestate succession | provides for distribution of the property of a person who dies without leaving a valid will |
| Land situated along a moving body of water may be increased by: | accretion |
| land situated along moving body of water- deposited on the shoreline | Alluvion (alluvium) the action of the sea or a river in forming new land by deposition. |
| if water recedes, there may be | reliction of land |
| movement of water may dimnish the land area at shoreline | avulsion |
| By occupying land for 5 years, paying taxes and claiming possession, one can acquire title by | adverse possession |
| successive owners under color of title can | tack (Adding a period of time) their periods of ownership.Color of title refers to a document or other instrument that appears to be a legitimate claim of title to a piece of land, but due to a title defect, cannot transfer or convey ownership. |
| to travel over land may be acquired in a similar fashion, but without paying taxes | easement of prescription |
| the holder of a leasehold interest may abandon that inerest, | and the landlord again may have the right of present use or possession |
| Title to real estate may be transferred by | deed, whether public or private |
| land may be dedicated to public use, | as when a developer builds streets through a subdivision |
| an involuntary transfer of title | Alienation |
| some ways the courts can be called on to settle property disputes | -Action to quiet title - Partition Action - Foreclosure Action - Action for declaratory relief |
| a writ of execution | by the court orders the sherriff to sell a debtor's property. The buyer receieves a certificate of sale or a sherriff's deed |
| if a condition subsequent were breached | title could be changed by forfetiure |
| a trustee in bankruptcy may | sell real property to acquire funds for creditors |
| The right of eminent domain enables | a governing body to condemn, or take, land for a public purpose |
| the actions of a property owner or prospective property owner may later | equitably stop, or prevent, him from denying the property rights of another |
| Transfer of ownership of property by deed must name | agrantor and grantee and describe the property to be conveyed. |
| The correct words of grant must be used, depending on the type of deed | / |
| The deed is effective once it has been delivered to | the grantee and accepted |
| if the grantor's action is acknowledged, the deed can be | recorded and will enter the property's chain of title |
| implied warranties are given in a | grant deed by the grantor, who also may convey after-acquired title |
| What type of deed gives no such warranties and cant convey after-acquired title, but it may clear a cloud on the title | quitclaim deed |
| What type of deed gives express (stated) warranties | warranty deed |
| What type of deed enables a trustee to hold title until a debt is paid to the beneficiary by the trustor | trust deed |
| if the debt is paid, | a reconveyance deed ill put title back in the trustor. A sheriffs deed is given following a forced sale of real estate |
| what type of deed, when properly created,will transfer title without going through a probate proceeding | a revocable transfer of death (TOD) deed |
| Open for discussion: A claim of title by adverse possession often is used as a fallback position when title is challenged by legal action | when should such a claim be made? |
| TEST. 1. A person who dies without a will, dies | a) Testate b) intestate c) with an executor d) in eminent domain b |
| 2. The testator names | a) an executor or executrix b) a testator c) a devisor d) an administrator or administratix A |
| 3.) Someone who received a real property by will s called | a) a devise b) a devisee c) a testator d) A codicil B |
| 4.) A typewritten will must be | a) made by a competent person b) signed by the testator c) witnessed d) all D |
| 5.) a statutory will | a) signed and witnessed (a type of estate planning tool, usually at the state level.involves a set template and formal language with fill-in blanks for a user's identification and application to their property. b) telegraphic c) oral d) invalid A |
| 6) a holographic will | a) oral b) telegraphic c)handwritten d) witnessed C |
| 7.) the probate court appoints | a) an executor or executrix b) a testator c) a devisee d) an administrator or administratix D |
| 8) When soil is deposited on a riverbank, gradually building out the land, process is called | a) accretion b) alluvion c) avulsion d) subsidence A |
| 9.) when flood conditions cause land to be washed away | a) accretion b) alluvion c)avulsion d) accession C |
| 10.)when water recedes, creating a new shoreline | a) accretion b) alluvion c) avulsion d) reliction D |
| 11.) elena moves onto mike's land, builds a home, pays the property taxes, an d claims she owns the property. When will she have a good title, even against mike? | a) After 1 year b) after 3 years c) after 5 years d) after 10 years C |
| 12.) elena's friend, carl, who used to own the property in question 11, gave her a phony deed to Mike's land, Elena, who does not know the phony deed, has | a) a worhtless documen t b) color of tile c) a good title d( to share the title with Mike B |
| 13.) the right to travel over the proprty of someone else is | a) easement b) equitable estoppel c) fixture d) statutory dedication by deed A |
| 14. A cotenant who wants property that is co-owned to be sold would bring | a) foreclosure action b) action for declaratory relief c) action to quiet title d) partition action D |
| 15. in event of deafult, real property may be sold without court action if the mortgage or other lien instruments contains | a) trust deed b) power of sale c) tax deed d) right of entry B |
| 16 the court order following a judgement for money is | a)certificate of sale b) special limitation c) writ of exectution d) trustee in bankruptcy C |
| 17. the power of state to take private property for public use is called | a)eminent domain b) equitable estoppel c) public grant d) abandonment A |
| 18. to be effective, deed must be | a) made on printed form b) signed by grantor c) delivered to the grantee by the grantor personall d) all B |
| 19. the transfer of title from grantor to grantee and from that grantee to a subsequent grantee and so on is caled | a) a cloud on title b) chain of tilte c) delivery and acceptance d) acknowledgment B |
| 20. legal title conveyes by a deed of trust may be regained by | a) warranty deed b) trust deed c) reconveyance deed d) sherriffs deed C |
| trust | is a relationship in which one person holds title to property, subject to an obligation to keep or use the property for the benefit of another. |
| beneficiary | is a person (or entity) who is designated to receive the benefits of property owned by someone else. |
| after acquired title | Title held by someone who bought property from a seller before the seller received title to the property and who automatically obtained title upon the seller’s receipt of title. |
| after acquired title example | John signed & recorded deed of his late father's ranch to Sam, even though John had not yet received title from his father's estate |
| after acquired title example part 2 | . Once John received the title from his father's estate and recorded it, the after-acquired title would automatically pass on to Sam. |
| chain of title | the sequence of historical transfers of title to a property from the current owner all the way back to the original owner. |
| quit claim deed | quitclaim grantor does not promise that their interest in the property is actually valid. |
| cloud on title | any document, claim, unreleased lien, that might invalidate or impair a title to real property or make the title doubtful |
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s5amreyez