5 Written questions
5 Matching questions
- Transfer Tax
- a One who might inherit or succeed to an interest in land under the state law of descent when the owner dies without leaving a valid will
- b Tax on the transfer of real property; may require that stamps be attached to deed
- c The person transferring title to or an interest in real property to a grantee
- d A written instrument that, when delivered, conveys title to or an interest in real estate
- e (1) The right to ownership or the ownership of land. (2) The evidence of ownership of land.
5 Multiple choice questions
- Formal declaration by someone like a notary that the signature is both voluntary (no force) and genuine (no forgery)
- 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."
- "To have and to hold" clause in a deed defining the extent of ownership bing granted; i.e., a life estate or a defeasible fee
- A deed in which the grantor fully warrants good clear title to the premises. Used in most real estate deed transfers, a general warranty deed offers the greatest protection of any deed
- 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
5 True/False questions
Quit Claim Deed → A conveyance by which the grantor transfers whatever interest he or she has in real estate, without warranties or obligations
Intestate → Having made and left a valid will.
Vested Interest → 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
Granting 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
Voluntary Alienation → Voluntary transfer of title to Real Estate property, either a gift or selling of property