DOCSLIB.ORG

The Conveyance of Estates in Fee by Deed : Being a Statemennt of The

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

INDEX . (References are to sections . ] ABANDONMENT , of guardianship of insane, effect of , 333 . of homestead , 383. will not generally make valid conveyance of homestead that was invalid when made , 394 . of wife by husband , she may convey , 363 . ABBREVIATION , of official title in acknowledgment , 291 . “ ABOUT," effect of in naming quantity , 92 . ABSENCE , signing in grantor 's , 238 . ABSTRACT OF TITLE , 425 . should show conditional clauses , 187 . ACCEPTANCE , , as an element of delivery , 298 300 - 302 . , . assuming control of property shows 301 , , , express acceptance of deed when necessary 301 . , presumed until dissent shown 300 . , . when parent conveys to child 301 , , prevented title does not pass 302 . , surrender and acceptance need not be concurrent acts 302 . ACCESS , , , to navigable water private property 106 . , to water cannot be cut off 117 . ACCRETIONS , , on half street 91 . , to riparian owner ' s land 117 . ( 547 ) 518 INDEX . [References are to Sections. ) ACKNOWLEDGMENT , “ acknowledge ,” whether necessary , 270 . by corporation , 294 . by married women , 264, 361, 365 , 367 . certificate of, clerical errors do not vitiate , 267 . date , 34 , 290 . date differing from that in deed , effect of, 34. conclusive , when , 293 . fact of acknowledgment must appear in , 269. forgery may be shown , 293 . form of, 265 , 294 , impeachment, 293 . in foreign language , 280 , n . parts of , 289 . " personally known ,” 272. prima facie evidence of, due execution of deed , 259. seal of officer , 292 . signing by officer, 291. defined , 254 . grantor or grantee cannot take, 281 . identity of person acknowledging with grantor , 271, 272 . jurisdiction of officer to take , 289 . of grantor to witness , 252 . of writing not authorized , effect , 260 . , grantees may . one of several take 281 , partner of party cannot take 285 . , party cannot take 281 . , . - purposes of 257 264 , , , record of deed with defective acknowledgment 258 260 366 . , , stockholder cannot take when 285 . , , , substantial compliance with statute necessary 267 - 272 367 399 . , taken in state other than that where land is 276 – 279 . , to conveyance of homestead 399 . , in trustee deed cannot take 283 . , venue 289 . , what instruments may have 255 . , , , , when necessary to validity 261 262 365 399 . , when required for release of dower 376 . , . who may take 274 – 277 ACQUIESCENCE , , , by former infant in deed made during minority 316 317 . , , of husband in wife ' s control of property effect of 353 . ACRES , , , statement of number effect 92 . INDEX 549 [ References are to sections.] ACTION , on covenants running with the land governed by lex situs , 213. ADDITIONS , to name by way of recital,44 . ADJOINING LOT , as monument , 87 . ADMINISTRATOR , covenantee 's need not be named ,196 . deed of, recitals in , 50 . naming of, in covenants for title , 193 . when not bound by deceased ' s covenants , 193 . ADOPTION , , , , of child effect on will 428 n . , by of one seal several grantors 248 . , by of signature grantor 238 . ADVERSE POSSESSION , , , character of to render deed void or voidable 420 . , conveyance of land held in 415 - 421 . , generally valid now 421 . , , valid between the parties 417 418 . , disability from 415 421- . , , by title not acquired under “ Torrens System ” 440 . AFFIRMANCE , , , of deed made during infancy not needed 313 . , what is 316 . , of conveyance of voidable insane person 342 . , AFFIRMATIVE CONDITIONS 171 . AFTER ACQUIRED TITLE , , enures to grantee in warranty deed 188 . , , mortgagee . to when 189 , , married woman estopped to claim when 195 . AGE , , . extreme age does not show grantor ' s incapacity 340 , misrepresentation by infant as to 320 . AGENT See ATTORNEY . AGREEMENT , , , of grantee to pay mortgage how shown 65 . , , to convey distinguished from deed 28 . 550 INDEX . [References are to Sections. ] ALIEN , capacity to purchase and convey real property , 408 –412 . may convey before office found , 410 . may not acquire title by descent at common law , 408 . , , property rights affected by treaty 4 412 . , . states may add to or remove common law disabilities 412 , . treaty may remove disabilities of 412 LIENATION , , by joint tenant 150 . , , by . 1 owner in fee 139 , by tenant in common 157 . , by tenant in entirety 166 . , by tenant in tail 140 . , , general restraint on void 186 . , , restraint on valid in creating " separate estate ” 354 . , on restrictions 312 . ALLEYS . See STREETS . ALTERATION , , by forgery 426 . , of date 426 . , . grantee ' s of name 426 AMBIGUOUS , , , . clause of condition 172 , construed as a covenant 177 . , of exception and reservation 121 . , - 80 . 76 description of property AMERICAN ACTS FOR REGISTRATION OF TITLE , , , inappropriately called " Torrens Acts ” 433 n . AMERICAN BAR ASSOCIATION FORMS , , , by form of acknowledgment recommended 265 294 . AMERICAN RULE , , as to covenants running with the land 217 . ANCIENT DEEDS , , , recitals in evidence 44 . APPLICATION , , to register title 435 . , to sell infants ' lands 326 . APPROVAL , , by court of sale of infant ' s land 328 . INDEX . · 551 [References are to sections .] APPURTENANCES , what are, 118 . APPURTENANT , , , of easement reservation 125 . , , to land not appurtenant land 99 118 . ARTIFICIAL POND , , boundary on 111 . ASSENT , , of to ' s husband wife deed 363 . ASSIGNMENT , , on indorsed deed 70 . , “ ASSIGNS ” , , covenantee ' s naming of 197 . , covenants broken do not pass to 217 . , , of in effect covenant 224 . , to a not needed create fee 138 . , by in . of grantee deed poll bound covenants 225 ASSUMED NAME , , , by deed one under valid 43 . , , to deed one under valid 43 . ASSURANCE , , , further covenant for 205 . ASSURANCE FUND , , ” . under “ Torrens System 442 ASYLUM , , , of . commitment to effect 333 ATTAINDER , , on forfeiture 413 . ATTESTATION , , at common law not necessary 250 . by , in conveyance one interested the invalid 253 . , , . clause of not essential 252 , . generally 250 - 253 , in United States 251 . , . method of 252 , by of signature mark 236 . , proof by witness attesting 295 . 552 INDEX [ References are to sections.] ATTORNEY , acknowledgment by, 294 . , married woman ' s power of 377 . , of party may generally take acknowledgment 288 . , , , . power of by infant when void 314 , by insane person 336 . , signing under power of 239 . ATTORNMENT , , effect of statute dispensing with 202 . , “ BANK " , , effect of in description 100 . BARGAIN AND SALE , , , after statute of uses 20 56 . , consideration in 55 . , deed of 12 . , deeds in United States usually based on 56 . , , operative words in deed of 57 69 . BENEFITS AND BURDENS , , distinction between in covenants 226 . BLANKS , , authority to fill 39 . , , , , filling in certificate of acknowledgment 267 269 271 . , . forms of covenants for title 192 BOND , , , guardian ' s on sale of infant ' s lands 328 . BOUNDARY . See DESCRIPTION . , at water ' s edge 117 . , lake as 111 . , meander line as 103 . , street as 89 . , uncertain starting point 80 . , . - 98 water as 117 BREACH OF COVENANT , , , against incumbrances what constitutes 200 - 203 . , for further assurance 205 . , for good right to convey 198 . , for quiet enjoyment 206 . , for seisin 198 . , , , . 206 of warranty 209 210 BUILDING LINE , , . in plat to on referred deed 227 , , by purchaser may be held to another lot owner 228 . INDEX . 553 [References are to Sections. ) BUILDING RESTRICTION , as a condition , 182 . incumbrance , 201 , 227, 228 . , in pursuance of a general plan 228 . BUILDINGS , , 88 . as monuments BULK , , sale in 92 . BURDENS , , , of covenants when pass with the land 226 . BUSINESS , , occupancy of homestead for 384 . CANCELATION , , of grantor ' s name does not revest title in him 311 . CAPACITY , , , mental degree required in grantor 338 . , . - to convey of alien 410 412 , , of convict 413 414 . , , of corporation 406 407 . , - of disseisee 415 421 . , , of infant 313 314 . , of insane person 332 - 337 . , ofmarried woman 340 – 372 . , . of tenant in tail 143 , CAPACITY TO TAKE TITLE , , of alien 408 409 . , , of convict 413 414 . , . of corporation 401 - 405 , of infant 323 . , CAPRICIOUS CONDITIONS 186 . CENTER , , , of monument boundary 88 89 . , “ CENTER RULE " . , , what expressions prevent operation of when way is boundary 90 . CERTAINTY , in description 75 . CERTIFICATE OF ACKNOWLEDGMENT . See ACKNOWLEDGMENT . , , date of 34 290 . , , defective to deed of married woman 366 554 INDEX . [References are to Sections.) CERTIFICATE OF ACKNOWLEDGMENT — Continued . form of, 265 , 291, form , when taken in another state , 278. how far evidence, 259 . impeachment of, 293 . parts of , 289 . what should show , 266 , 268. CERTIFICATE OF CONFORMITY , 279 . CERTIFICATE OF OFFICIAL CHARACTER , , . of officer taking acknowledgment , 275 , 277 278 CHAMPERTOUS , , conveyances invalid 421 . CHAMPERTY , , statutes against 415 . CHANCERY , , , power of court of to authorize conveyance of infants ' lands 330 . CHANGE , , in character of neighborhood as affecting right to enforce restric , tione 229 . CHILD , , , unborn cannot be grantee of immediate eetate 43 . , , may be grantee in remainder 43 n . “ CHILDREN . " , " heirs " construed as 40 . CHRISTIAN NAME , , by signing 237 . CHURCH SOCIETY , , by deed 241 . CIRCUMSTANCES , , , , considered in construing conveyances 181 183 187 . , , “ CIVIL DEATH ” 413 414 . CLERICAL ERRORS , , in certificate of acknowledgment 267 . , COKE ' S , definition of deed 19 . , COLLATERAL LIMITATION
Recommended publications
  • Warranty Deed

    Warranty Deed

    This document was prepared by: __________________________ __________________________ __________________________ Warranty Deed WARRANTY DEED, made this _______ day of __________, 20____ by and between _______________________________________________________ of the city of __________and the county of ___________ (“grantor”) and ___________________________________________________ (“grantee”) whose mailing address is ________________________________________________________________ THE GRANTOR, for and in consideration of the sum of ______________ DOLLARS ($_________) the receipt and sufficiency of which is hereby grant, bargain, self and convey unto the grantee his/her heirs and assigns, the following described premises located in the county of ___________, state of ____________, described as follows: Also known as street and number ______________________________________________________ TO HAVE AND TO HOLD the said premises, with its appurtenances unto the said Grantee his/her heirs and assigns forever. Grantors covenant with the Grantee that the Grantors are now seized in fee simple absolute of said premises; that the Grantors have full power to convey the same; that the same is free from all encumbrances excepting those set forth above; that the Grantee shall enjoy the same without any lawful disturbance; that the Grantors will, on demand, execute and deliver to the Grantee, at the expense of the Grantors, any further assurance of the same that may be reasonably required, and, with the exceptions set forth above, that the Grantors warrant to the Grantee and will defend for him/her all the said premises against every person lawfully claiming all or any interest in same, subject to real property taxes accrued by not yet due and payable and any other covenants, conditions, easements, rights of way, laws and restrictions of record.
  • Chapter 6 Summary Ownership of Real Property

    Chapter 6 Summary Ownership of Real Property

    Chapter 6 Summary Ownership of Real Property California Real Estate Principles Estate in land - degree of ownership one holds in the land. Feudal system - all land was once owned by the king/government; Allodial System (USA) - although the government detains some rights, individuals own property without proprietary control of government. Freehold estate - the estate lasts at least a lifetime; leasehold estate - renting or leasing. Types of freehold: • Fee Simple (Fee Simple Absolute) - Owns the bundle of rights – unlimited duration; inheritable. • Fee Simple Defeasible is based on an occurrence of a specified event – conditions. • Fee Tail - Property inherited by a monarch is illegal in the United States. • Life Estate: Voluntary Life Estates or "Conventional Life Estates." o Estate in Reversion • A life estate that is deeded to a life tenant - incomplete bundle of rights during lifetime. • A reversion estate that is retained by the grantor. After death of life tenant, grantor has complete bundle of rights. o Estate in remainder: differs from the above because the remainder estate is given to a third party who is known as the remainderman. After death of life tenant, the remainderman has complete bundle of rights. o Pur Autre Vie (estate in reversion/estate in remainder) - life tenant has the incomplete bundle of rights until a third party dies. o Involuntary Life Estates are legal life estates or marital right. It is not possible to sell the property without the consent of the partner, or to own property in one name only. o Dower - a wife's interest in the husband's property; Curtesy - a husband's interest in a wife's property; Homestead - protection against unsecured debts for the party who did not sign for the loan.
  • The Law of Property

    The Law of Property

    THE LAW OF PROPERTY SUPPLEMENTAL READINGS Class 14 Professor Robert T. Farley, JD/LLM PROPERTY KEYED TO DUKEMINIER/KRIER/ALEXANDER/SCHILL SIXTH EDITION Calvin Massey Professor of Law, University of California, Hastings College of the Law The Emanuel Lo,w Outlines Series /\SPEN PUBLISHERS 76 Ninth Avenue, New York, NY 10011 http://lawschool.aspenpublishers.com 29 CHAPTER 2 FREEHOLD ESTATES ChapterScope -------------------­ This chapter examines the freehold estates - the various ways in which people can own land. Here are the most important points in this chapter. ■ The various freehold estates are contemporary adaptations of medieval ideas about land owner­ ship. Past notions, even when no longer relevant, persist but ought not do so. ■ Estates are rights to present possession of land. An estate in land is a legal construct, something apart fromthe land itself. Estates are abstract, figments of our legal imagination; land is real and tangible. An estate can, and does, travel from person to person, or change its nature or duration, while the landjust sits there, spinning calmly through space. ■ The fee simple absolute is the most important estate. The feesimple absolute is what we normally think of when we think of ownership. A fee simple absolute is capable of enduringforever though, obviously, no single owner of it will last so long. ■ Other estates endure for a lesser time than forever; they are either capable of expiring sooner or will definitely do so. ■ The life estate is a right to possession forthe life of some living person, usually (but not always) the owner of the life estate. It is sure to expire because none of us lives forever.
  • VACARIA, a Void Place, Or Waste Ground

    VACARIA, a Void Place, Or Waste Ground

    [ 323 ] U AND V.. VAGRANTS. VACARIA, A void place, or waste ground. Mem. in Scacc. Mich, 9 Edw. 1 . VACATING RECORDS; See title Record. VACATION, Vacatio.~\ Is all the time between the end of one Term and the beginning of another; and it begins the last day of every Term, as soon as the Court rises. The time from the death of a bishop, or other spiritual person, till the bishopric or dignity is sup plied with another, is also called Vacation. Stats. Westm. 1. c. 21: 14 Edw. 3. st. 4. c. 4. VACATURA, An avoidance of an Ecclesiastical Benefice; as prima Vacatura, the first Avoidance, isfc. VACCARY, Vaccaria. A house or place to keep cows in; a Dairy- house, or Cow-pasture. Fleta, lib. 2. VACCARIUS, The Cow-herd, who looks after the common herd �of cows. Fleta. VADIARE DUELLUM, To wage a combat, where two contend ing parties, on a challenge, give and take a mutual pledge of fighting. Cowell. See title Battel. VADIUM PONERE, To take security, bail or pledges, for the appearance of a defendant in a Court of Justice. Reg. Orig. See Pone. VADIUM MORTUUM; See Mortgage. VADIUM VIVUM, A living Pledge; as when a man borrows a sum of another, and grants him an estate, as of 20/. fier annum, to hold until the rents and profits shall repay the sum borrowed. See Mortgage. VAGABOND, Vagabundus .] One that wanders about, and has no certain dwelling; an idle fellow. See Vagrants. VAGRANTS. Vagrantes.] These are divided into three classes; viz. Bile and Disorderly Persons�Rogues and Vagabonds�and Incorrigible Rogues: And are thus described and particularised at full length in the stat.
  • Law and Practice

    Law and Practice

    GLOBAL PRACTICE GUIDEs Definitive global law guides offering comparative analysis from top ranked lawyers USA Regional Real Estate Montana Crowley Fleck PLLP chambersandpartners.com 2018 MONTANA LAW AND PRACTICE: p.3 Contributed by Crowley Fleck PLLP The ‘Law & Practice’ sections provide easily accessible information on navigating the legal system when conducting business in the jurisdic- tion. Leading lawyers explain local law and practice at key transactional stages and for crucial aspects of doing business. LAW AND PRACTICE MONTANA Contributed by Crowley Fleck PLLP Authors: Kevin Heaney, Matthew McLean, Michael Tennant, Alissa Chambers Law and Practice Contributed by Crowley Fleck PLLP CoNTENTS 1. General p.5 4. Planning and Zoning p.11 1.1 Main Substantive Skills p.5 4.1 Legislative and Governmental Controls Applicable 1.2 Most Significant Trends p.5 to Design, Appearance and Method of Construction p.11 1.3 Impact of the New US Tax Law Changes p.6 4.2 Regulatory Authorities p.11 2. Sale and Purchase p.6 4.3 Obtaining Entitlements to Develop a New 2.1 Ownership Structures p.6 Project p.11 2.2 Important Jurisdictional Requirements p.6 4.4 Right of Appeal Against an Authority’s 2.3 Effecting Lawful and Proper Transfer of Title p.6 Decision p.12 2.4 Real Estate Due Diligence p.6 4.5 Agreements with Local or Governmental 2.5 Typical Representations and Warranties for Authorities p.12 Purchase and Sale Agreements p.6 4.6 Enforcement of Restrictions on Development 2.6 Important Areas of Laws for Foreign Investors p.8 and Designated Use p.12 2.7 Soil Pollution and Environmental 5.
  • Water Law in Real Estate Transactions

    Water Law in Real Estate Transactions

    Denver Bar Association Real Estate Section Luncheon November 6, 2014 Water Law in Real Estate Transactions by Paul Noto, Esq. [email protected] Prior Appropriation Doctrine • Prior Appropriation Doctrine – First in Time, First in Right • Water allocated exclusively based on priority dates • Earliest priorities divert all they need (subject to terms in decree) • Shortages of water are not shared • “Pure” prior appropriation in CO A historical sketch of Colorado water law • Early rejection of the Riparian Doctrine, which holds that landowners adjacent to a stream can make a reasonable use of the water flowing through your land. – This policy was ill-suited to Colorado and would have hindered growth, given that climate and geography necessitate transporting water far from a stream to make land productive. • In 1861 the Territorial Legislature provided that water could be taken from the streams to lands not adjacent to streams. • In 1872, the Colorado Territorial Supreme Court recognized rights of way (easements), citing custom and necessity, through the lands of others for ditches carrying irrigation water to its place of use. Yunker v. Nichols, 1 Colo. 551, 570 (1872) A historical sketch of Colorado water law • In 1876 the Colorado Constitution declared: – “The water of every natural stream, not heretofore appropriated, within the state of Colorado, is hereby declared to be the property of the public, and the same is dedicated to the use of the people of the state, subject to appropriation as hereinafter provided.” Const. of Colo., Art. XVI, Sec. 5. – “The right to divert the unappropriated waters of any natural stream to beneficial uses shall never be denied.
  • REAL ESTATE LAW LESSON 1 OWNERSHIP RIGHTS (IN PROPERTY) Real Estate Law Outline LESSON 1 Pg

    REAL ESTATE LAW LESSON 1 OWNERSHIP RIGHTS (IN PROPERTY) Real Estate Law Outline LESSON 1 Pg

    REAL ESTATE LAW LESSON 1 OWNERSHIP RIGHTS (IN PROPERTY) Real Estate Law Outline LESSON 1 Pg Ownership Rights (In Property) 3 Real vs Personal Property 5 . Personal Property 5 . Real Property 6 . Components of Real Property 6 . Subsurface Rights 6 . Air Rights 6 . Improvements 7 . Fixtures 7 The Four Tests of Intention 7 Manner of Attachment 7 Adaptation of the Object 8 Existence of an Agreement 8 Relationships of the Parties 8 Ownership of Plants and Trees 9 Severance 9 Water Rights 9 Appurtenances 10 Interest in Land 11 Estates in Land 11 Allodial System 11 Kinds of Estates 12 Freehold Estates 12 Fee Simple Absolute 12 Defeasible Fee 13 Fee Simple Determinable 13 Fee Simple Subject to Condition Subsequent 14 Fee Simple Subject to Condition Precedent 14 Fee Simple Subject to an Executory Limitation 15 Fee Tail 15 Life Estates 16 Legal Life Estates 17 Homestead Protection 17 Non-Freehold Estates 18 Estates for Years 19 Periodic Estate 19 Estates at Will 19 Estate at Sufferance 19 Common Law and Statutory Law 19 Copyright by Tony Portararo REV. 08-2014 1 REAL ESTATE LAW LESSON 1 OWNERSHIP RIGHTS (IN PROPERTY) Types of Ownership 20 Sole Ownership (An Estate in Severalty) 20 Partnerships 21 General Partnerships 21 Limited Partnerships 21 Joint Ventures 22 Syndications 22 Corporations 22 Concurrent Ownership 23 Tenants in Common 23 Joint Tenancy 24 Tenancy by the Entirety 25 Community Property 26 Trusts 26 Real Estate Investment Trusts 27 Intervivos and Testamentary Trusts 27 Land Trust 27 TEST ONE 29 TEST TWO (ANNOTATED) 39 Copyright by Tony Portararo REV.
  • Types of Deeds Components of the Deed

    Types of Deeds Components of the Deed

    Types of Deeds General Warranty • Warrants title against all defects in title, whether they arose before and after grantor took title. Special Warranty • Warrants title against the grantor’s own acts but not the acts of others. Quitclaim • No warranties. Conveys whatever interest/title that grantor has, which could be nothing. U N I V E R S I T Y of H O U S T O N Professor Marcilynn A. Burke Copyright©2008 Marcilynn A. Burke All rights reserved. Provided for student use only. Components of the Deed • Location of the property • Salutation • Grantor’s name and residence • Consideration, receipt of consideration, and method of payment • Granting grantee the property and grantee residence U N I V E R S I T Y of H O U S T O N Professor Marcilynn A. Burke Copyright©2008 Marcilynn A. Burke All rights reserved. Provided for student use only. 1 Components of the Deed Cont’d • Description of the property • Habendum (to-have-and-to-hold) • Warranty • Any limitation of title or the interest • Execution date and place • Execution • Acknowledgment (notary) U N I V E R S I T Y of H O U S T O N Professor Marcilynn A. Burke Copyright©2008 Marcilynn A. Burke All rights reserved. Provided for student use only. Warranties • Present • Covenant of seisin • Covenant of right to convey • Covenant against encumbrances • Future • Covenant of general warranty • Covenant of quiet enjoyment • Covenant of further assurances U N I V E R S I T Y of H O U S T O N Professor Marcilynn A.
  • Chapter 12 Questions Transfer of Title

    Chapter 12 Questions Transfer of Title

    Modern Real Estate Practice, 18th Edition Chapter 12 Questions Transfer of Title 1. The title to real estate passes when a valid deed is a. signed and recorded. b. delivered and accepted. c. filed and microfilmed. d. executed and mailed. 2. The primary purpose of a deed is to a. prove ownership. b. transfer title rights. c. give constructive notice. d. prevent adverse possession. 3. A special warranty deed differs from a general warranty deed in that the grantor's covenant in the special warranty deed a. applies only to a definite limited time. b. covers the time back to the original title. c. is implied and is not written in full. d. protects all subsequent owners of the property. 4. The severalty owner of a parcel of land sells it to a buyer. The buyer insists that the owner's wife join in signing the deed. The purpose of obtaining the wife's signature is to a. waive any marital or homestead rights. b. defeat any curtesy rights. c. provide evidence that the owner is married. d. satisfy the parol evidence rule. 5. A third party holds title to property on behalf of someone else through the use of a a. devise. b. quitclaim deed. c. bequest. d. deed in trust. ©2010 Kaplan, Inc. Modern Real Estate Practice, 18th Edition 6. In a real estate transaction, transfer taxes that are due are charged a. to the buyer unless this is forbidden by statute or regulation. b. according to local custom unless the parties are from different jurisdictions. c. to the parties as agreed in the contract of sale.
  • A Primer on Deeds in Texas

    A Primer on Deeds in Texas

    A Primer on Deeds in Texas INTRODUCTION A deed is a written document that conveys legal title to real property. It is different from a promissory note or a real estate lien note, which is a promise to pay a sum of money to a lender; and a deed of trust, which provides a lender with remedies, including foreclosure, if a borrower defaults on a note. These three documents are the three principal documents in most Texas real estate transactions. There is no “standard form” for a deed. Texas does have, however, certain rules that apply if a deed is to be valid. For example, the intent to convey property must be clear from the wording; the property must be adequately described; and the deed must be signed and acknowledged by the grantor. This article addresses the deeds commonly used in Texas. RECORDING A DEED IS NOT A NECESSITY There is no requirement that a deed be recorded in the county clerk's real property records in order to be valid. The deed only needs to be executed and delivered to the grantee. At that time, the transfer is fully effective between grantor (seller) and grantee (buyer). Recording is simply used to give notice to the public of the transfer and, most importantly, establishes priority in the event a questionable seller gives more than one deed to the property. Recording makes it easier for title companies to research and insure the chain of title. Recording also informs the taxing authorities where they should send the ad valorem tax bill. PURCHASE PRICE NOT REQUIRED IN DEEDS In Texas, it is customary to recite that the consideration paid is “Ten dollars and other valuable consideration.” While recording gives the public notice that a transaction concerning the property took place, therefore, preserving the chain of title, it is believed that it is not the public´s business what the purchase price was.
  • Lesson 4: Transferring Ownership 2 Title Title: Abstract Concept Referring to Real Property Ownership Rights

    Lesson 4: Transferring Ownership 2 Title Title: Abstract Concept Referring to Real Property Ownership Rights

    1 Real Estate Principles of Georgia Lesson 4: Transferring Ownership 2 Title Title: Abstract concept referring to real property ownership rights. Cloud on title: Problem with owner’s title (such as interest claimed by someone else). Also called a title defect. 3 Alienation Alienation: Process of transferring real property ownership (title) from one party to another. y May be voluntary or involuntary. 4 Alienation Voluntary alienation Voluntary alienation: Owner voluntarily transfers interest in land to someone else. Examples: y Patents y Deeds y Wills 5 Voluntary Alienation Patents and deeds Patent: Instrument used to convey government land to a private individual. Deed: Instrument used to convey title to real property from a grantor to a grantee. 6 Deeds Parties to a deed Grantor: One who grants interest in real property to another. Grantee: One who receives grant of real property. 7 Deeds Types of deeds General warranty deed Special warranty deed 1 Grant deed Bargain and sale deed Quitclaim deed Deeds executed by court order 8 Types of Deeds General warranty deed General warranty deed contains grantor’s covenants to grantee: y covenant of seisin y covenant of right to convey y covenant against encumbrances y covenant of quiet enjoyment y covenant of further assurance y covenant of warranty forever 9 Types of Deeds General warranty deed Covenant of seisin: Promise that grantor actually owns property interest being transferred. Covenant of right to convey: Promise that grantor has legal power to make conveyance. 10 Types of Deeds General warranty deed Covenant against encumbrances: Promise that property is not burdened by undisclosed easements, liens, etc.
  • Real Property – Present Estates

    Real Property – Present Estates

    Real Property – Present Estates Freehold (owned or possessed outright) or Non-Freehold (possessed through lease) Three types of Freeholds: LEFTS LE – life estate - "O to X for life, and remainder to Y." FT – fee tail - "O to X and the heirs of her body". A fee tail could only pass to the grantee's heirs, which kept the property in the grantee's family. When there is no more living family, the interests revert back to the grantor. Fee tail was abolished in vast majority of states, including New York, and is instead treated as a fee simple in the Grantee). S – fee simple - "To X and X's heirs and assigns" or "To X and X's heirs" or "O to X." Three types of Fee Simple: SAD Subject to a condition precedent ("To X, upon the condition that X passes the bar exam; otherwise, to Y." No title passes to X until X passes) or condition subsequent (BOP: "To X, but if...." "To X on condition that...." "To X provided that....", which creates a right of reentry, not automatic forfeiture). Absolute (no condition). Determinable (conditioned on an uncertain future event, which if it occurs results in automatic forfeiture SUD: "So long as...." "Until it is not used for...." "During the period is used for...."). The law does not favor forfeiture, so the language must be clear, and the possibility of forfeiture will render title unmarketable. ---------------------------------------------------------------------------------------------------------- Shelley's Case: To avoid tax to the Grantee, "To Grantee for life, remainder to Grantee's heirs." This delayed payment of transfer tax for the life of the Grantee.