© 2010 by Cengage Learning Chapter 5 ________________ Transferring Title

© 2010 by Cengage Learning Deed Written legal document that transfers ownership of real property from one party to another. Need created by law known as Statute of Frauds

© 2010 by Cengage Learning Essential Elements of a Deed  Grantor/Grantee  Consideration  Words of Conveyance  Land Description  Signature  Delivery & Acceptance

© 2010 by Cengage Learning Covenants & Warranties Seizin Quite Enjoyment Against Encumbrances Future Assurances Warranty Forever

© 2010 by Cengage Learning

Testate- with Will Holographic Will Oral Will Codicil Intestate – without Will Descent / Heirs Probate Court Conveyance After Death

© 2010 by Cengage Learning Adverse Possession Unauthorized occupation of another person’s land for a period of time as required by law. Color of Title – plausible appearance of ownership interest. Easement by Prescription – acquired by prolonged adverse use.

© 2010 by Cengage Learning Key Terms Adverse possession Bargain & sale deed Cloud on the title Color of title Consideration Covenant Deed Grantee Grantor Quitclaim deed Special warranty deed Warranty