5 Written Questions
5 Matching Questions
- Vested Interest
- a The person who receives a conveyance of real property from a grantor
- b Having made and left a valid will.
- c (1) The right to ownership or the ownership of land. (2) The evidence of ownership of land.
- d A present right, interest or title to property that gives the holder the right to convey it to another, even thought the right might not be enjoyed by one or both of the parties.
- e A person who has made a valid will. A woman often is referred to as a testatrix, although testator can be used for either gender.
5 Multiple Choice Questions
- Voluntary transfer of title to Real Estate property, either a gift or selling of property
- An instrument that grants a trustee under a land trust full power to sell, mortgage, and subdivide a parcel of real estate. The beneficiary controls the trustee's use of these powers under the provisions of the trust agreement
- A deed in which the grantor warrants, or guarantees, the title only against defects arising during the period of his or her tenure and ownership of the property and not against defects existing before that time, generally using the language, "by, through, or under the grantor but not otherwise."
- The actual, open , notorious, hostile, and continuous possession of another's land under a claim of title. Possession for a statutory period may be a means of acquiring title
- A legal process by which a court determines who will inherit a decedent's property and what the estate's assets are
5 True/False Questions
Bargain and Sale Deed → A deed that carries with it no warranties against liens or other encumbrances but that does imply that the grantor has the right to convey title. The grantor may add warranties to the deed at his or her discretion
Intestate → Having made and left a valid will.
Heir → A written instrument that, when delivered, conveys title to or an interest in real estate
Grantor → The person who receives a conveyance of real property from a grantor
Habendum Clause → Words in deed on conveyance that state the grantor's intention to convey the property at the present time. This clause is generally worded as "convey and warrant"; "grant"; "grant, bargain, and sell"; or the like