1. Transfer of Title

2. What is title? Title to real estate is the right to ownership of the land and the associated bundle of rights. Title also serves as evidence of the ownership. Title to real estate is the right to ownership of the land and the associated bundle of rights. Title also serves as evidence of the ownership.

3. Voluntary Alienation Voluntary alienation is simply the voluntary transfer of title. A deed is the instrument that actually transfers the title. Grantor Grantee Voluntary alienation is simply the voluntary transfer of title. A deed is the instrument that actually transfers the title. Grantor Grantee

4. Requirements for a valid deed: legally competent grantor identifiable grantee recital of consideration granting clause habendum clause (defines ownership taken by grantee) accurate legal description relevant exceptions or reservations delivery of the deed and acceptance by the grantee legally competent grantor identifiable grantee recital of consideration granting clause habendum clause (defines ownership taken by grantee) accurate legal description relevant exceptions or reservations delivery of the deed and acceptance by the grantee

5. Types of Deeds general warranty deed – the big DOG! special warranty deed bargain and sale deed quitclaim deed deed in trust reconveyance deed deed executed pursuant to court order (clerk’s deed) general warranty deed – the big DOG! special warranty deed bargain and sale deed quitclaim deed deed in trust reconveyance deed deed executed pursuant to court order (clerk’s deed)

6. Covenants in General Warranty Deed Covenant of seisin Covenant against encumbrances Covenant of quiet enjoyment Covenant of further assurance Covenant of warranty forever Covenant of seisin Covenant against encumbrances Covenant of quiet enjoyment Covenant of further assurance Covenant of warranty forever

7. Warranties in other deeds... See the book for details

8. Transfer Tax Stamps Recording taxes and fees

9. Involuntary Alienation Escheat Eminent Domain Foreclosure Adverse Possession Escheat Eminent Domain Foreclosure Adverse Possession

10. Must be: open notorious continuous hostile adverse Necessary period ranges from 5 to 30 years. Must be: open notorious continuous hostile adverse Necessary period ranges from 5 to 30 years.

11. Transfer of a Deceased Person’s Property Testator must be of legal age and sound mind. Testate vs. Intestate If you die intestate then the state’s statute of descent and distribution determines ownership. Transfer of title by will devise – gift of real property by will devisee – person that receives property Testator must be of legal age and sound mind. Testate vs. Intestate If you die intestate then the state’s statute of descent and distribution determines ownership. Transfer of title by will devise – gift of real property by will devisee – person that receives property

12. Oral will – nuncupative Handwritten will – holographic Probation of will proves or confirms the validity of a will determines the precise assets of the deceased person identifies the persons to whom the assets are to pass Executor – manages estate until distribution Oral will – nuncupative Handwritten will – holographic Probation of will proves or confirms the validity of a will determines the precise assets of the deceased person identifies the persons to whom the assets are to pass Executor – manages estate until distribution