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NE Real Estate

NE Real Estate Unit 6

TermDefinition
Will written document properly witnessed, transfer of title to property
voluntary alienation act of transferring property to another by gift or sale
granting clause conveyance grantor's intention to convey the property; "grant, bargain and sell"
adverse possession actual, open, notorious, hostile, and continuous possession of another's land under a claim of title (NACHO)
deed written instrument, conveys title to or an interest in RE
involuntary alienation act of transferring property to another, eminent domain or adverse possession
special warranty deed warrants or guarantees, the title only against defects
transfer tax tax stamps, affixed to a deed
testator person made a valid will
title right to ownership or land and evidence
quitclaim deed transfer whatever interest w/o warranties or obligations
probate court determines who inherit a decedent's property and estate's assets
general warranty deed warrants good, clear title to the premises; greatest protection of any deed
intestate dies w/o valid will; pass to the decedent's heirs
habendum clause "to have and to hold"; defining the extent of ownership
grantee receives a transfer of RP
acknowledgment formal declaration notary public by a person who has signed a document
bargain and sale deed to warranties against liens right to title to convey title
deed of trust (trust deed) create a mortgage lien, conveys title to a trustee
reconveyance deed return title to trustor
testate left a valid will
trustee's deed deed executed by a trustee
grantor owner transferring title to or interest to a grantee
Created by: SevitaM
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