Chapter 4.1

Title

The legal term used to describe the bundle of rights in a property that a party can own. The law needs a way to define ownership, and the most straightforward way to do that is to define what rights a party can have related to a property.

Adverse Possession

A method of acquiring title to real property through possession of the property for a statutory period under certain conditions by a person other than the owner of record.

Eminent Domain

The right of the government to acquire property for necessary public or quasi-public use by condition; the owner must be fairly compensated.

Escheat

The reverting of property to the State when heirs capable of inheriting are lacking.

Involuntary Alienation

The transfer of title to real property as a result of a lien foreclosure sale, adverse possession, the filing of a petition in bankruptcy, or condemnation under power of eminent domain or upon the death of the titleholder, to the State when there are no heirs.

Devise

A gift or disposal of real property by last will and testament.

Devisee

One who receives a gift of real property by will.

Devisor

One who disposes of real property by will.

Intestate

A person who dies having made no will, or one which is defective in form, is said to have died intestate, in which case the estate descends to the heirs at law or next of kin.

Probate

The official proving of a will.  The legal process wherein the estate of a decedent is administered.

Testate

Having made a valid will before one dies.

Testator

One who makes a will.

Bargain and Sale Deed

Any deed that recites a consideration and purports to convey the real estate; a bargain and sale deed with a covenant against the grantor’s act is one in which the grantor warrants that grantor has done nothing to harm or cloud the title.

Deed

A written instrument which when properly executed and delivered conveys title to real property from one person (grantor) to another (grantee).

Grant Deed

A limited warranty deed using the word “grant” or like words that assures a grantee that the grantor has not already conveyed the land to another and that the estate is free from encumbrances placed by the grantor.

Grantee

A person to whom a grant is made.

Grantor

A person who transfers his or her interest in property to another by grant.

Quitclaim Deed

A deed to relinquish any interest in property which the grantor may have, without any warranty of title or interest.

Sheriff’s Deed

A deed given by court order in connection with the sale of a property to satisfy a judgment.

Special Warranty Deed

A deed in which the grantor warrants or guarantees the title only against defects arising during the grantor’s ownership of the property and not against defects existing before the time of the grantor’s ownership.