SECTION 7- TITLE TRANSFERS

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  1. Title
    Alienation
    Involuntary Alienation
    Title is the legally recognized evidence of ownership. The term alienation means to transfer title. Title can be transferedvoluntarily by gift, sale, or devise. Involuntary alienation can result from foreclosures, adverse possession, court actio, and eminent domain.
  2. Requirments for a valid conveyance
    As a gerneal rule, the following items are a must for a valid deed; legal capacity, property description, granting clause, consideration

    Legal capacity- a deed given by a minor, insane person is voidable. A deed given by a person who has been adjdicated incompetent is void.

    Property description- A deed must contain sufficent description.

    Granting clause- the portion of a deed that conveys the title

    Consideration- in a deed can be good or valuable, although it is usually valuable. A deed that contains only good consideration can be contested
  3. Name of parties
    Title can be taken in a fictitious name; however, a grantor cannnotgive a title to a fictitious person. A person who receives title in one name and the conveys the title in a different name has created a could on the title
  4. Signatures
    A deed must be signed by the grantor or the grantor's legal power of attorney.
  5. The sections of the deed are
    The premise, habendum, and testimonium. The premise contains the name of the parties, property description, consideeration, granting clause, and reservations and exceptions. The reservation portion of a deed may contain liens, encumbrances, and easements
  6. Habendum
    The middle portion of the deed is the habendum which means to have and to hold; it defines the extent of ownership. The habendum is not necessary in a deed. The granting clause serves the same purpose.
  7. Deed restrictions
    A deed restiction is private control of land and may be enforced by grantor, his heirs, or anyone who has interest in the property.
  8. To convey a title
    There must be delivery of a deed by a grantor and acceptance by the grantee. A deed placed in escrow constitutes delivery on the part of the grantor

Card Set Information

Author:
Cshowalter
ID:
333272
Filename:
SECTION 7- TITLE TRANSFERS
Updated:
2017-08-03 14:42:37
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SECTION TITLE TRANSFERS
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SECTION 7- TITLE TRANSFERS
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SECTION 7- TITLE TRANSFERS
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