Chapter 4.2

Voluntary Alienation

Transfer of title to an asset with the consent of the owner.

Warranty Deed

A deed used to convey real property which contains warranties of title and quiet possession, and the grantor thus agrees to defend the premises against the lawful claims of third persons.

Acknowledgment

A formal declaration made before an authorized person, e.g., a notary public, by a person who has executed an instrument stating that the execution was his or her free act.

Consideration

Anything given or promised by a party to induce another to enter into a contract, e.g., money, personal services, or even love and affection.

Grant

A technical legal term in a deed of conveyance bestowing an interest in real property to another.  The words “convey” and “transfer” have the same effect.

Grantee

A person who receives title to real property by deed.

Grantor

A person who conveys title to real property by deed.

Habendum Clause

The “to have and to hold” clause which may be found in a deed.

Legal Description

A land description recognized by law; a description by which property can be definitely located by reference to government surveys or approved recorded maps.

Quitclaim Deed

The seller (or grantor) did not provide many warranties or protections for the buyer (or grantee).

Final Signatures

Almost all ____ ____ of a real estate deed will need to be accompanied by the signatures of two independent witnesses.

Delivery and Acceptance

The final component of a deed.

Seisin

Refers to the legal possession of a piece of land.

For example, children of a last surviving parent with no last will or testament are considered the automatic heirs and would be granted a ____ of the parent’s property.

Acceptance

The act of agreeing or consenting to the terms of an offer thereby establishing the “meeting of the minds” that is an essential element of a contract.

Acknowledgment

A formal declaration made before an authorized person, e.g., a notary public, by a person who has executed an instrument stating that the execution was his or her free act.  

Recording

The process of placing a document on file with a designated public official for public notice.  This public official is usually a county officer known as the County Recorder who designates the fact that a document has been presented for recording by placing a recording stamp upon it indicating the time of day and the date when it was officially placed on file.  Documents filed with the Recorder are considered to be placed on open notice to the general public of that county.

Actual Notice

Express or implied knowledge of a fact.

Constructive Notice

Notice of the condition of title to real property given by the official records of a government entity which does not require actual knowledge of the information.

Recording

The process of placing a document on file with a designated public official for public notice.  This public official is usually a county officer known as the County Recorder who designates the fact that a document has been presented for recording by placing a recording stamp upon it indicating the time of day and the date when it was officially place on file.  Documents filed with the Recorder are considered to be placed on open notice to the general public of that county.