How can we help?

You can also find more resources in our Help Center.

24 terms

REA CH 1-5 Set B

Real Estate Sales Agent
STUDY
PLAY
CONSTRUCTIVE NOTICE
Public notice given by recording a document with the county recorder
WILL
A written instrument by which a person makes a disposition (final settlement) of his or her property to take effect after his or her death
TITLE
Evidence of ownership of land
GRANTEE
The person receiving the property or to whom it is being conveyed
GRANTOR
The person conveying, or transferring, the property
HOLOGRAPHIC WILL
Written in the maker's own handwriting, dated, and signed by the maker
GIFT DEED
Used to make a gift of property to a grantee who is usually a close friend or relative
ACKNOWLEDGMENT
A signed statement, made before a notary public by a named person; confirming the signature on a document and that it was made of free will
CONSIDERATION
Anything of value; one of the essentials of a valid contract
INTESTATE
Dying without leaving a will
QUITCLAIM DEED
Transfers any interest the grantor may have at the time the deed is signed, with no warranties of clear title
CODICIL
A change in a will before the maker's death
ACTUAL NOTICE
Notice given by possession of property
ABSTRACT OF TITLE
A full summary of all consecutive grants, conveyences, wills, records and judicial proceedings affecting title to a specific parcel or real estate
WARRANTY DEED
A deed used to transfer title to property, guaranteeing that the title is clear and the grantor has the right to transfer it; no longer used in California
PRINCIPAL
Someone who directs or authorizes another to act in his or her place in regard to relations with third persons; buyer or seller
TESTATOR / TESTATRIX
A person who has made a will
PUBLIC GRANT
The transfer of title by the government to a private individual
BEQUEST
A gift of personal property by will (see legacy)
PUFFING
Exaggerated comments or opinions not made as representations of facts and thus not grounds for misrepresentations
ACTION
A lawsuit brought to court
COUNTEROFFER
The rejection of an original offer that becomes a new offer
RELICTION
Occurs when land that has been covered by water is exposed by the receding of the water
ADVERSE POSSESSION
Acquiring title to property by continued possession and payment of taxes