Advanced Real Estate Law

Intestate

A person dies intestate when he dies without a valid will.

Foreclosure

A judicial foreclosure is a lawsuit filed by a mortgagee or deed of trust beneficiary to foreclose on the security property when the borrower has defaulted.

Suit for Partition

A suit filed by a co-owner of property to have the court either physically divide the property, or sell the property and divide the sale proceeds among the co-owners.

Adverse possession

The acquisition of title to property through open, notorious, exclusive, and continuous possession for a period of ten years.

Quiet title action

A lawsuit to determine who has title to a piece of property or to remove a cloud from the title.

Condemnation

The government takes private property for public use through its power of eminent domain.

Dedication

Dedication is the appropriation or granting of private property for public use.

Recording

Recording is the filing of a document at the county auditor's or county recorder's office so that it is placed in the public record, providing constructive notice to the public of the contents of the document.

Book of Plats

A book kept by the county recorder or auditor containing plat maps of all the subdivided land in the county.

Indexes

A direct index is a list of grantor names in alphabetical order maintained by the county recorder or auditor.

Race-notice recording statute

whoever records a deed first has title to the property if that person had no notice of prior conveyances.

Actual Notice

Someone has actual notice when the information has been obtained personally.

Constructive Notice

Constructive notice is imparted by operation of law as a result of recording.

Subsequent bona fide purchaser

A subsequent bona fide purchaser is someone who pays for an interest in land that has already been sold to another, without any knowledge (actual or constructive) of the previous sale.

Encumbrancer

A mortgagee who relies on the public record when loaning money

Devisee

A person who takes real property under a will

Covenant of warranty

The grantor promises to defend the title against anyone who may lawfully have a claim to it.

A valid deed

must be in writing

include words of conveyance

signed by a competent grantor

With a special warranty deed, the grantor promises two things:

1) that the grantor has not encumbered the property, and 2) quiet enjoyment against the grantor and her heirs.