SECTION 8- DEEDS

Deeds provide evidence of the transfer of title of real property from a grantor to a grantee.  Deed requires the grantor must be legally competent, it must be delivered and accepted and contain a granting or action clause.  A deed does NOT need to be acknowledged to be valid.

gives the grantee the most protection while creating the most liability for the grantor; warranty deeds are used most often to convey a seller's interest.

is a promise; violating a deed covenant will not result in lose of title; violating a deed condition will result in a loss of title.

guarantees that the grantor did not harm the title during his or her period of ownership- it does not guarantee title problems that occurred before ownership

has no warranties- it does come with the implication that the grantor does own the property.

has no warranties and no implications; however it does convey the interest a grantor has. Quitclaim deeds are used most often to correct errors and to remove clouds from a title. A deed of confirmation or reformation is used to correct errors; these are generally quiteclaim deeds.

is given by the owner, called the trustor, to a second party, called the trustee, who holds titlefor the beneficiary. A deed in trust gives the trustee legal title while the beneficiary has the equitable title.

is given by borrower of money to a third party called the trustee, who holds the title for the benefit of the lender; therefore, a deed of trust or trust deed is a financial document; it secures property for the payment of a debt

is given by a trustee under a deed of trust to return title to a trustor whenthe debt has been paid.

is given when a property owner dedicates property to a goverment

Eminent Domain is when the property is taken by the government because it is necessary for necessary public use. The owner of the private property taken receives just compensation through a process called Condemnation. Eminent Domain is usually NOT held by individuals,

Inverse Condemnation is when the owner sues the city to buy his property for excessive airport noise

Escheat is a reversion of property to the state in the absence of an individual owner. Usually occurs when a property owner dies intestate (without a will), and without heirs.  An individual CANNOT acquire property through Escheat.

Accretion is an addition to land from natural causes (for example, from the gradual action of the ocean or river waters).

Avulsion is a rapid and forceful washing away of land by water. [For example, if a dam breaks and the rushing water washed away a strip of land, this would constitute a Loss of Title by Avulsion.]

Probate Sale is a sale of a home that occurs when a homeowner dies and the property is to be divided among inheritors or sold to pay debts. The broker’s commission is set by the Court in a probate sale.

Intestate succession occurs when someone dies without leaving a will, or leaving an invalid will so that the property of the estate passes by the laws of succession rather than by the direction of the deceased.