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Texas Real Estate Contracts 4 th Edition © 2015 OnCourse Learning.

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Presentation on theme: "Texas Real Estate Contracts 4 th Edition © 2015 OnCourse Learning."— Presentation transcript:

1 Texas Real Estate Contracts 4 th Edition © 2015 OnCourse Learning

2 Chapter 13: Title Conveyances © 2015 OnCourse Learning

3 Title Voluntary Alienation Involuntary Alienation © 2015 OnCourse Learning

4 Voluntary Alienation A voluntary conveyance is a conveyance made intentionally by the property owner. Two types of voluntary conveyances include conveyances by deed and by will. © 2015 OnCourse Learning

5 Deeds The conveyance of title is in the form of a deed. In the standard deed, the seller is referred to as the grantor while the purchaser of the property is referred to as the grantee. © 2015 OnCourse Learning

6 Types of Deeds General warranty deed Special warranty deed Bargain and sale deed Quitclaim deed © 2015 OnCourse Learning

7 --General Warranty Deed A general warranty deed is a deed that conveys title to the property and warrants title to the property against all defects in title that arose both before and after the grantor took title to the property. In real estate transactions in Texas, the general warranty deed is the most common type of deed used to convey real estate It is the default deed specified in the TREC 20- 12 form. © 2015 OnCourse Learning

8 --Special Warranty Deed A special warranty deed conveys title to the property, but warrants only against the grantor's own acts and not the acts of others. © 2015 OnCourse Learning

9 --Bargain and Sale Deed A bargain and sale deed conveys title to the property, but it does not contain any warranties. © 2015 OnCourse Learning

10 --Quitclaim Deed A quitclaim deed transfers whatever interest the grantor has in the property. © 2015 OnCourse Learning

11 Parts of a Deed Premise Habendum Clause Warranty Clause Execution © 2015 OnCourse Learning

12 Wills A will is a legal document that allows a person to voluntarily distribute his or her assets upon death. © 2015 OnCourse Learning

13 Involuntary Alienation Involuntary conveyances are conveyances that occur unintentionally through no choice of the property owner. © 2015 OnCourse Learning

14 Intestacy Law When a person dies without a will, he or she is referred to as intestate. When a property owner dies intestate, Texas statutory intestacy law dictates the distribution of his or her property. © 2015 OnCourse Learning

15 Eminent Domain Eminent domain refers to the power of the government to take private property for public use for just compensation. © 2015 OnCourse Learning

16 Adverse Possession Adverse possession is an actual and visible appropriation of real property, commenced and continued under a claim of right that is inconsistent with and is hostile to the claim of another person. © 2015 OnCourse Learning

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