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The basic requirements for a valid conveyance are governed by
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Every deed must be signed by
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Modern RE Practice 6
Modern Real Estate Practice 6
| Term | Definition |
|---|---|
| The basic requirements for a valid conveyance are governed by | State law. Although local custom, national law, and law of decent influence it somewhat, state law has the greatest influence on requirements for a valid real property conveyance. |
| Every deed must be signed by | Grantor. Either the grantor, or someone acting under the grantor's authority, must execute (sign) every deed, the grantor must have legal capacity to do so. |
| A 15 yr old recently inherited a parcel of real estate and has decided to sell it. If the 15 yr old executes a deed conveying the property to a purchaser, such as a conveyance would be | Voidable. Real estate contracts entered by minors are generally voidable by the minor until the minor reaches the age of majority (18 in most states) or shortly thereafter. |
| A form authorizing one person to execute documents for another is called | Power of attorney. The document is a power of attorney; the person named in it is an attorney-in-fact. Deeds do not authorize one person to act for another. |
| The grantee receives greatest protection with what type of deed? | General warranty. Often called warranty, the grantor makes more promises and gives the grantee more covenants than in any other deed. |
| Party Y receives a deed from party X. The granting clause of the deed states, "I hereby remise, release, alienate, and convey to Y the following real property." What type of deed has Y received? | Special warranty. The quoted granting clause doesn't use the word quitclaim instead using convey, nor does it use the words warrant generally or bargain and sell nullifying these answers. Special warrants use the words remise, alienate, and convey. |
| Under the covenant of quiet enjoyment, a grantor | Ensures that the title will be good against the title claim of third parties. Quiet enjoyment means freedom from claims of third parties-persons other than the grantor and grantee. |
| Which type of deed merely implies but does NOT specifically warrant that the grantor holds good title to the property? | Bargain and sale. By giving a bargain and sale deed, the grantor implies ownership and possession of the property, but there are no express warranties against encumbrances. |
| Which of these steps did a house title actually transfer/pass to B: A decided to convey a house to B, A signed a deed to transfer title to B, A gave the signed deed to B who accepted it, B took the deed to the county's recorder's office & had it recorded | A gave the signed deed to B who accepted it, due to delivery & acceptance. At that moment, the deed was binding between the parties. The purchaser, when later recording the deed, was then also protected against 3rd parties. |
| P signed a deed transferring ownership of P's house to Q. To provide evidence that P's signature was genuine, P executed a declaration before a notary. This declaration is known as | An acknowledgement. P gave this acknowledgement as to the validity and voluntary nature of P's signature to a notary. The notary took P's acknowledgement and attached a seal. |
| Title to real estate may be transferred during a person's lifetime by | Involuntary alienation (IA). Transfer of title by devise (will), descent (death intestate), or escheat (for lack of a will & lack of heirs) all occur after death. IA like condemnation, foreclosure sale, or tax sale, can occur during a person's life. |
| Eminent domain and escheat are two examples of | Involuntary alienation (IA). The right of eminent domain allows a gov't entity to force transfer of a property to that entity for a price set by court process-condemned. When a person dies (intestate) w/out heirs, title is passed (escheats) to the state. |
| A deed contains a promise that the title conveyed is good & a promise to obtain & deliver any documents necessary to ensure good title. This deed contains an example of which covenant? | Further assurances. Any promise to obtain documents to make the title good is the covenant of further assurance. The covenants of quiet enjoyment, seisin, and warranty forever are not addressed. |
| A person who has died without a will has died | Intestate. A person who dies testate leave a valid will; one who dies intestate doesn't. Those who make a last will & testament are testators. Devisees receive gift of real estate (a devise) & Legatees receive a gift of personal property (legacy) by will. |
| Title to real estate can be transferred upon death by what type of document? | Will. A will transfers title of real estate upon the death of testator. Deeds must be delivered & accepted during the lifetime of the grantor to transfer title. |
| Generally, where does a probate proceeding involving real property take place? | Both the county where the decedent resided & the county in which the property is located. There will be 2 probates conducted for each of previous mentioned. |
| A deed states that the grantors are conveying all their rights and interests to the grantees to have and to hold. This is communicated in | The habendum clause. This clause defines or explains the ownership to be enjoyed by the grantee, & its provisions must agree w/those stated in the granting clause (begins with the words "to have and to hold"). |
| A deed contains a guarantee that the grantor will compensate the grantee for any loss resulting from the title's failure in the future. This is an example of which covenant? | Warranty forever. The grantor promises to compensate the grantee for the loss sustained if the title fails at any time in the future in the covenant of warranty forever. |
| A Denver resident bought acreage in another country, never went to see it & didn't use the land. An artist moved a mobile home on the land, had a water well drilled, & lived there for 22 yrs. They may become part owner if they're in compliance w/state law | Regarding adverse possession/hostile possession of real estate w/out permission of the owner & contrary to their best interests. By continuing in an open, conspicuous way for the statutory time frame the artist may take legal action to declare ownership. |
| An owner of real estate was declared legally incompetent & committed to a state mental institute. While there, the owner wrote & executed a will. The owner died while at still at the ward & was survived by a spouse & 3 children. The real estate will pass | According to state laws of descent. A valid will requires mental competency of the testator at time of writing. Due to the mental incompetence, the owner in question died w/out a valid will. The property will then be passed to someone chosen by the state. |
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jr84