Study with the several resources on Docsity
Earn points by helping other students or get them with a premium plan
Prepare for your exams
Study with the several resources on Docsity
Earn points to download
Earn points by helping other students or get them with a premium plan
Community
Ask the community for help and clear up your study doubts
Discover the best universities in your country according to Docsity users
Free resources
Download our free guides on studying techniques, anxiety management strategies, and thesis advice from Docsity tutors
An overview of the process of transferring real estate titles, including methods of voluntary and involuntary alienation, types of deeds, and the concept of good title. It covers the importance of a marketable title, the root of title, and the role of title searches and public records in ensuring clear ownership.
Typology: Exercises
1 / 9
This page cannot be seen from the preview
Don't miss anything!
a) Title to real estate means ________________________________________.
A person who holds title would, if challenged in court, be able to __________________________________ of a parcel of real estate.
b) Methods of Transferring Title
Voluntary alienation
Involuntary alienation
Escheat
Eminent domain
Foreclosure
Adverse possession
Devise and descent
a) A deed is the written instrument by which an owner of real estate:
The _________________ is the person who is transferring title to the property to someone else.
The _________________ is the person receiving title to the property.
b) General warranty deeds – These provide the greatest protection of any deed, and the grantor is legally bound by certain covenants or warranties.
Covenant of seisin
Covenant against encumbrances
Covenant of quiet enjoyment
Covenant of further assurance
Covenant of warranty forever
These guarantees extend back to the origin of the property. The grantor defends the title against anyone who may previously have had a claim on the property, including himself.
a) Marketable title Sales contracts usually require the seller to provide the buyer with “good and marketable title to the property.”
A marketable title is one that Has no serious defects and does not depend on _________________________ to prove its validity;
Does not expose a purchaser to _________________________; and
Can convince a reasonably well-informed and prudent purchaser, acting on business principles and with knowledge of the facts and their legal significance, that he or she could _________________________.
b) Other types of good title Insurable title
Title of perfect record
c) Root of title
The Kansas Marketable RecordTitle Act sets the root of the title as the date of the most recent transaction recorded __________ years prior to the time when marketability is being determined. Claims that arise from prior to the root of title are not valid, unless they have been properly recorded under the act.
Example: Suppose that the date at which marketability is being determined is May 21, 2003. The most recent transfers were on: January 21, 1999 March 13, 1991 December 20, 1978 February 7, 1978 May 14, 1965 What is the root of title in this case?
All claims to title that arise from prior to this date are no longer valid, unless they have been properly pursued in the meantime.
Priority
Example: I sell some land to Susan. I give her a deed, but she fails to record the deed. She takes possession of the land and begins to cultivate the land. I then sell the land again to Jason. I give Jason a deed, which he promptly records. Who has legal claim to the land?
c) Not all information relevant to clear title of real estate is publicly recorded.
Tax assessment authorities
County Clerk’s office
Local court records for any judgments against previous owners of the property
Water rights
Inspection of the property
a) Certificate of title
Not a guarantee of ownership
b) Abstract and attorney’s opinion of title
An abstract is a summary report of what the title search found in the public record.
