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Chapter 5 ________________ Transferring Title

Chapter 5 ________________ Transferring Title. Deed. Written legal document that transfers ownership of real property from one party to another. Need created by law known as Statute of Frauds. Essential Elements of a Deed. Grantor/Grantee Consideration Words of Conveyance Land Description

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Chapter 5 ________________ Transferring Title

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  1. Chapter 5________________ Transferring Title

  2. Deed • Written legal document that transfers ownership of real property from one party to another. • Need created by law known asStatute of Frauds

  3. Essential Elements of a Deed • Grantor/Grantee • Consideration • Words of Conveyance • Land Description • Signature • Delivery & Acceptance

  4. Covenants & Warranties • Seizin • Quite Enjoyment • Against Encumbrances • Future Assurances • Warranty Forever

  5. Conveyance After Death • Testate- with Will • Holographic Will • Oral Will • Codicil • Intestate – without Will • Descent / Heirs • Probate Court

  6. Adverse Possession • Unauthorized occupationof another person’s land for a period of time as required by law. • Color of Title– plausible appearance of ownership interest. • Easement by Prescription – acquired by prolonged adverse use.

  7. Key Terms • Adverse possession • Bargain & sale deed • Cloud on the title • Color of title • Consideration • Covenant • Deed • Grantee • Grantor • Quitclaim deed • Special warranty deed • Warranty

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