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Chapter 4 Deeds-Property Transfer and Alienation1 New Jersey Real Estate for Salespersons and Brokers By Marcia Darvin Spada Thomson/South-Western Copyright, 2006
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Chapter 4 Deeds-Property Transfer and Alienation2 Chapter 4 Deeds-Property Transfer and Alienation
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Chapter 4 Deeds-Property Transfer and Alienation3 Chapter 4 Key Terms Acknowledgement Adverse possession Bargain and sale deed Chain of title Conveyance Dedication Deed Delivery and acceptance General warranty deed Grantor/grantee Quitclaim deed Judicial deed Voluntary/ involuntary alienation
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Chapter 4 Deeds-Property Transfer and Alienation4 Alienation VoluntaryInvoluntary During a lifetime Deed 1. Lien foreclosure 2. Adverse possession 3. Condemnation 4. Bankruptcy 5. Eminent domain After death Will (testate) 6. Escheat (Intestate)
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Chapter 4 Deeds-Property Transfer and Alienation5 Essential Elements of a Valid Deed Writing Grantor Grantee Property Description Consideration Words of conveyance Execution Acknowledgement Delivery and Acceptance
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Chapter 4 Deeds-Property Transfer and Alienation6 Forms of Deeds Quit- claim deed No warranties Bargain and sale deed With or without covenants of warranty General Warranty Deed Strongest guarantee of title
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Chapter 4 Deeds-Property Transfer and Alienation7 Property Descriptions Metes and bounds A legal description with a point of beginning Reference, plat, or lot and block Refers to a subdivision map (plat) or a tax map with lot and block numbers
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Chapter 4 Deeds-Property Transfer and Alienation8 Methods of Transferring Title Upon Death Intestate Descent No valid will upon death Involuntary alienation NJ intestate succession statutes Testate Descent Valid will upon death Voluntary alienation Executor or personal representative
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