Real Estate Definitions for Chapter 5
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| show | Possession of all ownership interests
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| Equitable Title | show 🗑
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| Actual notice | show 🗑
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| Constructive notice | show 🗑
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| Alienation | show 🗑
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| Conveyance | show 🗑
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| show | an unforced transfer of title by sale or gift from an owner to another party
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| public grant | show 🗑
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| show | A voluntary alienation conveyance with a private party as the transferor
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| show | aka deed; a legal instrument used by an owner to transfer title to real estate voluntarily to another party
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| transfer by will | show 🗑
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| involuntary alienation | show 🗑
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| Grantor | show 🗑
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| Grantee | show 🗑
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| show | describe the details of the transfer
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| Granting clause | show 🗑
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| show | describes the type of estate being conveyed (fee simple, life, etc.)
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| show | aka serving clause; recites restrictions and limitations to the estate being conveyed, e.g., deed restrictions, liens, easements, encroachments, etc.
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| show | identifies property being conveyed, in addition to land
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| show | present the grantor's assurances to the grantee
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| show | assures that the grantor owns the estate to be conveyed, and has the right to do so
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| show | assures that the grantee will not be disturbed by third party title disputes
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| show | assures that the grantor will assist in clearing any title problems discovered later
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| show | aka warranty of title; assures that the grantee will receive good title, and that grantor will assist in defending any claims to the contrary
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| show | assures that there are no encumbrances on the property except those expressly named
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| show | states the assurance of a trustee, acting as grantor on behalf of the owner, that nothing has been done to impair title during the fiduciary period
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| show | most common deeds; the covenants are defined in law and do not need to be fully stated in the deed
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| show | the grantor covenants that the title is valid but may or may not warrant against encumbrances, or promise to defend against claims by other parties
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| show | aka warranty deed; most commonly used. Contains the fullest possible assurances of good title and protection for the grantee. Technically a bargain and sale deed where the grantor promises to defend against any and all claims to the title
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| show | the grantor warrants only against title defects or encumbrances not noted on the deed, which may have occurred during the grantor's period of ownership or trusteeship
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| Quitclaim Deed | show 🗑
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| cloud | show 🗑
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| quiet title suit | show 🗑
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| show | tailored to the requirements of specific parties, properties, and purposes
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| Personal representative's deed | show 🗑
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| show | used by a court-appointed guardian to transfer property of minors, or mentally incompetent persons
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| Sheriff's deed | show 🗑
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| show | used to convey property to a third party trustee as collateral for a loan
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| show | conveys the property back to the borrower upon satisfaction of the loan terms
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| show | used to convey property to the trustee of a land trust
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| show | used to convey land to a condominium developer; accompanied by the condominium declaration when recorded
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| Partition deed | show 🗑
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| show | used to transfer government property to private partie
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| Tax deed | show 🗑
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| last will and testament | show 🗑
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| testator | show 🗑
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| heir | show 🗑
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| devise | show 🗑
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| show | can be changed at any time during the maker's lifetime
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| show | aka personal representative; named by the testator of the will to oversee the settlement of the estate
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| show | a person identified by the testator to handle the legal affairs on behalf of a minor named in the will
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| show | in writing and witnessed by two people
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| Holographic will | show 🗑
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| show | on pre-printed forms meeting the requirements of state law
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| show | made orally, and written down by a witness; generally not valid for the transfer of real property
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| Probate | show 🗑
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| testate | show 🗑
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| intestate | show 🗑
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| show | a court appointed executor
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| Testate Proceeding | show 🗑
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| Intestate Proceeding With Heirs | show 🗑
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| descent and distribution | show 🗑
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| show | the estate reverts to the state or county after all claims and debts have been validated and settled
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| show | reverts to the state or county
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| show | State statues that identify heirs and the respective shares of an estate with a title holder dies without a valid will; in the absence of heirs, title transfers to the state or county by escheat
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| show | Property that has been abandoned for a statutory period may also escheat to the state or county.
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| involuntary title transfer | show 🗑
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| Foreclosure | show 🗑
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| Eminent Domain | show 🗑
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| Adverse possessor | show 🗑
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| Color of title | show 🗑
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| notorious possession | show 🗑
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| show | a claim to ownership and possession regardless of the owner's claims or consent
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| Estoppel | show 🗑
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| title records | show 🗑
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| marketable title | show 🗑
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| show | the succession of property owners of record dating back to the original grant of title from the state to a private party
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| show | a broken chain of title; a missing link in the chronology of owners; a defective conveyance
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| show | clears the title record of any unrecorded claims; removes clouds from titles
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| show | a written, chronological summary of the property's title records, and other public records affecting rights and interests in the property
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| show | search of public records to uncover defects in title or unrecorded breaks in the chain of title
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| title plant | show 🗑
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| show | a system of recording where title passes only when the conveyance has been duly registered on the title certificate itself
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| binder | show 🗑
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| Attorney's Opinion of Abstract | show 🗑
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| Title Certificate | show 🗑
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