Title | right to or ownership of the land. represents the owners bundle of rights. evidence of ownership |
voluntary alienation | legal term for the transfer of title during the property owners lifetime |
grantor | conveys property to a grantee |
grantee | receives property from a grantor |
deed | instrument that conveys property from grantor to grantee |
habendum clause | defined the ownership right received by the grantee |
acknowledgement | a formal voluntary declaration on the deed before a notary public |
general warranty deed | provides the greatest protection to the buyer because the grantor is legally bound |
special warranty deed | warranty that the grantor received the title an property was unencumbered by grantor |
bargain and sale deed | implication that grantor holds title and possession |
quitclaim deed | least protection of any deed, carries no convenants or warranties, conveys less that fees simple or to cure a title defect |
involuntary alientaion | title to property transferred without the owners consent |
intestate | dies without a valid will. title is passes to the heirs identified in the states law intestate succession |
adverse possession | involuntary transfer. ONCHA - open, notorious, continuous, hostile, adverse |
probate | when title passes by will or descent, the estate must go through a formal judicial process, in which the successor to the property title will be recognized |
testator | the person who makes the will |
devise | the gift of real property by will |
devisee | the person who receives real property by devisee |
primary heirs | surviving spouse and children by birth or adoption, or close blood relative if has no |