1. Chapter 4 Deeds-Property Transfer and Alienation1 New Jersey Real Estate for Salespersons and Brokers By Marcia Darvin Spada Thomson/South-Western Copyright, 2006

2. Chapter 4 Deeds-Property Transfer and Alienation2 Chapter 4 Deeds-Property Transfer and Alienation

3. 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

4. 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)

5. 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

6. 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

7. 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

8. 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