Maryland Real Estate - Chapter 31

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26 Terms

1
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what happens to deeds in another language

they can be recorded if they have proper translation

2
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when are deeds effective

if they are signed by the grantor and delivered and accepted by the grantee

3
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what is needed for a deed to be effective if a corp or minor is involved

it must be signed by them when it is delivered and accepted

4
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what do MD property descriptors use

metes and bounds and plats

5
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when are taxes and recordation taxes paid

at time of title transfer

6
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who pays taxes and transfer taxes

they are shared equally

7
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what is adverse possession

must actually possess property continuously for 20 years

8
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who is usually omitted from wills

any children that were born after the time the will was signed

9
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what is nuncupative

oral wills, they arent legal in md

10
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what are holographic wills

wills in handwriting that are legal if they are witnessed

11
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how does intestate distribution work with a spouse

surviving spouse alone - 100%

minor child, 50%

adult child; spouse gets 15k + half of rest

surviving parents; spouse gets 15k + half of rest

12
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what is elective share

spouse leaves will but gives surviving spouse less than above, that spouse can petition for more

13
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what are heirs

person who gets property

14
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what is a beneficiary

person who gets property through a will

15
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what is devise

receiving real property

16
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what is legacy

receiving personal property

17
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what happens if someone has no heirs or legacy

the money is given to MD state for medical bills and the rest to education board

18
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what is liber

book mumber to locate recorded deed or plat

19
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where does the original deed go to

the buyer

20
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what must happen with deed transfers, limited use declarations, and estates

they must be executed and recorded, must be fully considered, notary acknowledged, recorded in the county, and in the clerk of circuit court

21
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when are unrecorded deeds vald

if between the grantor and grantee

22
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what could happen to a grantee in an unrecorded deed

grantee cna lose equitable title if grantor gives deeds to others

23
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what does a recorded deed do

it gives constructive notice

24
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what are recording requirements

lease longer than 7 years

25
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who must approve subdivision plats

state and local

26
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who regulates plots and plats

the county