12-Transfer of Title

is ownership, or the right to ownership, of land and evidence of the ownership

is the voluntary transfer of title to real estate by gift or sale, using some form of deed.

is person who transfer title must be of legal age and legally competent to execute a deed.

• 1. Must be legal age
• 2. Mental impairment at time of signing deed makes the deed voidable.
• **If grantor declared incompetent by a judge, the deed is void.
• 3.  All names the grantor has used should be provided.

must be identifiable with sufficient certainty.

is payment of some form must be stated.

• * convey and warrant
• * remise, release, alienate, and convey
• * grant, bargain and sell
• * remise, release, and quitclaim

• must define ownership interest taken by the grantee;
• It specifies limits on ownership, i.e. time-share

This is essential for a property to be conveyed.

Must be acknowledged by a notary public or other official authorized by the state in which the property is located.

of the deed by the grantee are necessary

• General warranty deed
•    covenant of seisin
•    covenant against encumbrances
•    covenant of quiet enjoyment
•    covenant of further assurance
•    covenant of warranty forever
• Special Warranty deed
• Bargain and sale deed
• Quitclaim deed

provides the greatest protection to the grantee

Warrants the grantor has the right to convey title

warrants the property is free from liens or encumbrances, unless expressly stated

makes the grantor liable for damages if the grantee's title is found to be inferior

the grantor's promise to obtain any other document necessary to convey good title

grantor's promise to compensate the grantee if title fails at any future time.

includes the warranties that the grantor received title and that the property was not encumbered during the time the grantor held title, except as otherwise noted.

implies that the grantor hold title and possession of the property, and there are no express warranties against encumbrances.

These may be required to be affixed to deeds and conveyances before being recorded, with the tax rate depending on state, county and city requirements.

transfer of title to property is usually by operations of law

• Escheat
• Eminent domain
• Foreclosure
• Adverse possession

property taken by state when deceased has no heirs

property taken by public or government agency

property taken by creditor for nonpayment of debt secured by real property

property seizure occurring when someone who is not the lawful owner takes possession of property for the length of time specified by state law usually in a way that is Open, Notorious, Continuous, Hostile Adverse

• Open
• Notorious
• Continuous
• Hostile
• Adverse

Occurs when the decreased dies testate (leaving a will) prepared as required by law

• Take effect only after death
• Can be changed by codicil or revoked while testator is still alive
• Devise is gift of real property by to devisee
• Bequest gift of personal property
• Legacy is gift of money
• To pass title will must be recorded with the court and probated
• Wills cannot supersed state laws of dower or cutesy inheritance rights

occurs when a person dies intestate

proceedings must have an administrator appointed, and laws of the state where the real property is located govern property distribution.