Ch.3 Transfer of Real Property Practice Flashcards

Comprehensive flashcards covering the voluntary and involuntary transfer of real property, including deeds, wills, adverse possession, and title insurance based on the lecture transcript.

What general term refers to all the different methods by which title to real property can be transferred from one person to another?

Alienation

What is the document called that the United States government used to transfer property ownership into private hands?

A patent

In a deed transaction, what is the property owner called?

The grantor

What are the two warranties contained in a grant deed in California?

(1) The grantor has not previously conveyed title to anyone else and (2) the grantor has not caused any undisclosed encumbrances to attach to the property.

What term refers to an interest in property that a grantor acquires after executing a deed, which then passes to the grantee in a grant deed?

After-acquired title

Which type of deed provides no warranties, conveys no after-acquired title, and is commonly used to clear clouds on title?

Quitclaim deed

How many requirements must a deed meet to be valid in California?

$$6$$

Under the statute of frauds, what form must a deed take to be valid?

It must be in writing.

In California, what is the minimum age for a grantor to be considered legally competent to execute a valid deed?

$$18 \text{ years old}$$

What is the name of the clause in a deed that contains the words of conveyance?

The granting clause (or words of conveyance)

What is the term for signing a legal document in the presence of a formal witness, such as a notary public, to swear that the signature is voluntary?

Acknowledgment

What is the legal procedure used for establishing the validity of a will and distributing property according to its terms?

Probate

When real property is transferred by will, what is the act called and what is the recipient called?

The act is a devise, and the recipient is a devisee.

When a person dies without a valid will, they are said to have died __________.

Intestate

In a probate sale, a bid must be at least what percentage of the property's appraised value to be accepted by the court?

$$90\text{\%}$$

What is the power of the government to take private property for public use called?

Eminent domain

What is the legal procedure used by the government to exercise the power of eminent domain?

Condemnation

What process allows ownership of property to revert to the state when a person dies intestate and without any heirs?

Escheat

In California, what is the required statutory period of continuous and uninterrupted possession for an adverse possession claim?

$$5 \text{ years}$$

What is the term for adding together successive periods of continuous possession by a series of owners to fulfill the time requirement for adverse possession?

Tacking

What natural process occurs when land beside water is increased by the gradual deposit of waterborne silt?

Accretion

What is the term for one who has the professional authority to sign a deed on behalf of a grantor under a power of attorney?

Attorney-in-fact

What recording index lists all recorded documents in alphabetical order according to the last name of the party transferring the interest?

Grantor index

What is the difference between actual notice and constructive notice?

Actual notice is personal awareness or observation of a fact, while constructive notice is notice given by public record or property possession that a person should be aware of.

A document recorded to provide constructive notice that a pending lawsuit may affect title to a property is called a __________.

Lis pendens

What is the standard coverage title insurance policy in California often called?

A CLTA policy (California Land Title Association)

Which type of title insurance policy protects a lender's security interest and typically requires a property inspection?

Extended coverage (or ALTA policy)

What are the three most common types of title insurance coverage?

Standard coverage, extended coverage, and homeowner's coverage.