National Real Estate Exam: Transfer of Property/Title Latest Version Graded A+

National Real Estate Exam: Transfer of Property/Title Latest Version Graded A+ Title Ownership Ownership Title Deed Transfers the title Involuntary Alienation Loss of property, against will Escheat. Eminent Domain. Foreclosure. Types of Involuntary Alienation Adverse Possession Land occupant (non owner) acquires title of property General Warranty Deed grantor (seller) guarantees clear title to property & can sell it to the buyer MOST Warranty Deeds offer the ___ protection. Covenant a formal agreement Seisin means legal possession Convey means to transfer Against Encumbrances no liens or claims Warranty a guarantee for the buyer Quiet Enjoyment protected from 3rd party claims Bargain & Sale Deed the grantor has the right to convey title, however no warranties against encumbrances Quitclaim Deed transfer any interest in the property quickly Deed of Trust agreement between borrowers and lenders. Ensures trustee (3rd party) will hold title of borrower until debt is paid to lender Special Warranty Deed grantor warrants that the property was not encumbered during ownership, and will defend the title against defects if so Acknowledgment a signed formal document infront of a notary Devise Gifting of real property Devisee receiver of the real property by a will Grantee receiver of conveyed