Unit 12 - Real Estate Title

These flashcards cover important concepts and terms related to real estate title and conveyancing as outlined in Unit 12 of the 75-Hour Prelicensing Course Package.

Deed

The written instrument by which an owner of real estate conveys the right, title, or interest in a parcel of real estate to someone else.

Grantor

The owner who transfers the title.

Grantee

The person who acquires the title.

Consideration

The acknowledgment that the grantor has received something of value, typically stated in dollars.

General Warranty Deed

A deed providing the greatest protection, with several covenants guaranteeing the title.

Special Warranty Deed

A deed containing warranties that the grantor received title and that the property was not encumbered during the grantor's period of ownership.

Quitclaim Deed

A deed that provides the least protection, conveying only the interest the grantor has at the time of delivery without any warranties.

Involuntary Alienation

The transfer of title to property without the owner's consent, often through legal means such as condemnation.

Adverse Possession

A means of involuntary title transfer where an individual claims and uses property for a certain period, potentially acquiring legal title.

Probate Proceedings

The formal judicial process that verifies a will's validity, determines the deceased's assets, and identifies beneficiaries.

Habendum Clause

A clause in a deed that defines the extent of ownership taken by the grantee, typically starting with 'to have and to hold'.

Airport Control Zone

An area surrounding an airport that may limit the use of airspace and require certain restrictions on nearby properties.

Real Estate Transfer Declaration

A form that must accompany a deed detailing the consideration used for determining transfer taxes.

Tax Stamps

Stamps required to be purchased and affixed to a deed to indicate that transfer taxes have been paid.

Acknowledgment/Notarization

A formal declaration in which a notary public certifies the authenticity of a signature on a document.