![]() ![]() Property is transferred to a trustee by the borrower in favor of the lender, and re-transferred to the borrower upon payment in full. A legal document used to transfer real estate title.Īn instrument much like a mortgage. Most commonly the dedication by a builder of the streets in a subdivision.Ī written instrument by which ownership of land is transferred. The giving by an owner of private property for public use, and the acceptance by the proper public authority. See also Land Contract.Ī written agreement between two or more parties. A deed, not a contract for deed, is required to convey an interest in property. A contract under which the seller retains title until receiving the last payment from the buyer. That which is received by the grantor in exchange for their deed.Īgreement between buyer and seller of real estate which sets the price and terms of the sale. Also, the verification that makes a document recordable.Ī measure of land equal to 43,560 square feet or 160 square rods.Ī deed ordered by the court from the administrator of the estate being probated.Ī legal document swearing (under oath) to the truth of something.Īnything so annexed to land or used with it that will pass with the conveyance of the land.Ī copy of a document that is certified by a stamp and signature that it is a true copy of the original document.Ī unit of measurement equaling 66 feet, or four rods.Ī list of previous owners of a parcel of land showing the succession of conveyances from a specified time to the present owner showing how title was obtained. ![]() Legal verification by a notary public or public official that a signature on a legal document is authentic and that such document was freely executed. These terms and their definitions are not intended to replace professional or legal advice and should not be construed as such.Ī | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | ZĪ written history of all recorded instruments affecting the title to real property. A death certificate usually must accompany these instruments for them to be recognized as fully legal transfer instruments.The following definitions of real estate terms are meant to be an aid to understanding common real estate and public records forms and concepts. Special transfer documents, which include certificates of transfer and affidavits, are often used to transfer full or partial interests in property as the result of a death. However, separate easements are typically conveyed via an easement contract. Easements are rights of use over the property of another. Less used instruments of transfer include easements and special transfer documents. It simply transfers one person’s ownership interest in the property to another. A quitclaim deed uses much simpler language because it contains no promises or guarantees. A special warranty deed promises to protect the buyer if an issue arises from the time the seller owned the property. Warranty deeds provide buyers with the greatest protection because the grantor guarantees that he legally owns the property free and clear of liens and encumbrances and could therefore be liable for any title defect. Buyers and sellers should check with their county recorder or a real estate attorney to confirm.ĭeeds include general warranty deeds, special warranty deeds and quitclaim deeds. Some jurisdictions may require different or additional information. The signature must exactly match the grantor's name and the instrument must be notarized. The instrument must include a legal description of the property, the parcel identification number shown on the property's tax records and the actual cash consideration paid, if applicable. In addition, the grantor’s name must match the name on the title search. The instrument must show the name or names of the grantor and grantee. Requirements for Proper Conveyanceįor an instrument of conveyance to be legally acceptable, it must meet certain requirements. Because deed and title recognition laws vary from state to state, buyers should record their deed with their county or municipality to legally notify everyone that they possess title to the property. The actual conveyance or transfer occurs when the seller or his attorney hand a properly prepared deed to the new owner. These legal instruments include deeds, easements and transfer certificates. Generally, lawyers or paralegals under a lawyer's instruction draft instruments of conveyance and transfer as legal instruments that transfer the title from one property owner to another. Instruments of conveyance and transfer are commonly used to create a legally valid transfer of property from one owner to another. ![]()
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