Untitled Quiz

Questions and Answers

A person who owns a property on a river delta also takes ownership of any additional land that builds up along that riverbank due to natural deposits or man-made deposits is an example of what?

Avulsion

Accession (correct)

Adverse Possession

Accretion

A means of acquiring title where an occupant has been in actual, open, notorious, exclusive, and continuous occupancy of property under a claim of right for the required statutory period is known as what?

Adverse Possession

Alluvion is caused by a process known as what?

Accretion

A sudden and perceptible loss or addition to land by the action of water, or a sudden change in the bed or course of a stream is known as what?

Avulsion Signup and view all the answers

A deed conveying real property without covenants is known as what?

Bargain and Sale Deed Signup and view all the answers

The buyer in a transaction is known as the?

Grantee Signup and view all the answers

An appropriation of land to some public use, made by the owner, and accepted for such use by or on behalf of the public is known as what?

Dedication Signup and view all the answers

This type of deed contains the strongest guarantee of title?

Full Covenant and Warranty Deed Signup and view all the answers

Joe is selling his house to Kevin for $520,000. Kevin is known as who in the transaction?

Grantee Signup and view all the answers

A deed which conveys simply the grantor's rights or interest in real estate, without any agreement or covenant as to the nature or extent of that interest, or any other covenants is known as what?

Quitclaim Deed Signup and view all the answers

A deed and a contract have similar legal requirements in regards to what?

Allowing the documents to be enforceable Signup and view all the answers

Who signs the deed prior to the transfer of title?

Grantor Signup and view all the answers

The statute of frauds requires what for deeds?

Must be in writing Signup and view all the answers

Which part of a deed describes the facts of the transaction?

Premises Signup and view all the answers

The New York General Obligations Law Section 5-703 refers to what?

Statute of Frauds Signup and view all the answers

A legal description, as found in the Schedule A, is described using what?

Metes and Bounds Signup and view all the answers

How many grantors must be included in the execution of a deed?

As many as there are owners of the property Signup and view all the answers

This type of deed must recite the full consideration in the transaction?

Executor Deed Signup and view all the answers

The statement 'AND the party of the first part covenants has not done or suffered anything whereby the said premises have been encumbered in any way whatever, except as aforesaid.' is typically found in what type of deed?

Bargain and Sale Deed Signup and view all the answers

The type of deed is typically determined by what?

The quality of title in a transaction Signup and view all the answers

In the case where the owner of a property has died without leaving a will, the fiduciary appointed to represent the estate is known as a/an?

Administrator Signup and view all the answers

ACRIS can be found under which New York City website?

Department of Finance Signup and view all the answers

As a real estate agent, where should you search to find any records of violations on a property?

Department of Buildings Signup and view all the answers

What type of deed is typically delivered by a 3rd party?

Referee's Deed Signup and view all the answers

A clause in a deed or lease that defines the type of interest and rights to be enjoyed by the grantee or lessee is known as what?

Habendum Clause Signup and view all the answers

The seller in a transaction is known as the?

Grantor Signup and view all the answers

John is selling his house to Abby for $345,000. John is known as who in the transaction?

Grantor Signup and view all the answers

The addition of land through processes of nature, as by water or wind is known as what?

Accretion Signup and view all the answers

A type of deed where the grantor guarantees that he or she holds clear title to a piece of real estate and has a right to sell it to the grantee is known as what?

Full Covenant and Warranty Deed Signup and view all the answers

A supreme title to land which was originally acquired within the United States of America by a treaty is known as what?

Land Patent Signup and view all the answers

The process by which a parcel of land is measured and its area ascertained is referred to as what?

Survey Signup and view all the answers

Eminent domain is an example of what?

Involuntary Alienation Signup and view all the answers

The transfer of title during a typical 'arm's length' transaction is an example of what?

Voluntary Alienation Signup and view all the answers

Abby is gifting her property to her family at the end of the year. Abby will be performing what type of transfer?

Voluntary Alienation Signup and view all the answers

In New York State, what is required to be recorded along with the deed?

Transfer Tax Return Signup and view all the answers

What is an example of a covenant that may be found in a deed?

Easement Signup and view all the answers

A formal declaration before a duly authorized officer by a person who has executed an instrument that such execution is the person's act and deed is known as what?

Acknowledgement Signup and view all the answers

This type of deed is used only when the owner of the property is deceased?

Executor Signup and view all the answers

In cases where the buyer agrees to take lesser title, how may the purchase price be affected?

May be reduced Signup and view all the answers

A method of identifying the legal description of a property is known as what?

Lot and Block Signup and view all the answers

The means or medium by which title of real estate is transferred is known as what?

Conveyance Signup and view all the answers

A person or institution appointed by a testator to carry out the terms of their will is known as a/an?

Executor Signup and view all the answers

A term that is used for a gift of land that if from the government is known as what?

Public Grant Signup and view all the answers

This type of deed is used to convey real property sold pursuant to a judicial order in an action for the foreclosure of a mortgage or for partition?

Referee's Deed Signup and view all the answers

A section of a deed that may refer to a plat map, which includes the block and lot number of a particular piece of property is known as what?

Reference to a Plat Signup and view all the answers

Chris wants to research a property on the Department of Finance (ACRIS) website. Besides using the property's address, how else can Chris search to find information about the property?

Lot and Block Signup and view all the answers

Which is NOT an essential part of deed?

Recording Signup and view all the answers

A deed is NOT required to cite what?

Full Consideration Signup and view all the answers

This type of deed is typically used when money is not being exchanged, and the grantee is willing to take the property 'subject to' its condition?

Quitclaim Signup and view all the answers

In the case where the owner has died and left a will, the fiduciary appointed to represent the estate is known as a/an?

Executor Signup and view all the answers

What warranty is typically NOT provided in a Full Covenant and Warranty Deed?

There are no outstanding violations Signup and view all the answers

Legal policy mandates that a deed to real property be a matter of public record; therefore, subsequent to what, must a deed be properly recorded?

Delivery and Acceptance Signup and view all the answers

A clause is also known as the 'to have and to hold' clause?

Habendum Clause Signup and view all the answers

A term used in describing the boundary lines of land, setting forth all the boundary lines together with their terminal points and angles is known as what?

Metes and Bounds Signup and view all the answers

This type of deed is usually used to remove a cloud from the title?

Quitclaim Deed Signup and view all the answers

What type of deed is used in a co-op transaction?

A co-op does NOT have a deed Signup and view all the answers

John is four weeks away from closing on a house and wants to verify what type of deed will be delivered at the closing. Where should John look to find this information?

Contract Signup and view all the answers

The proposition that the contract for the conveyance of property merges into the deed of conveyance is known as what?

Merger Doctrine Signup and view all the answers

The covenant that states 'that the said premises are free from encumbrances', meaning what is being sold to the buyer, is known as what?

Clear and Marketable Title Signup and view all the answers

In an executor's deed, the deceased person is also known as who?

Testator Signup and view all the answers

The transfer of the title of land from one to another is known as what?

Conveyance Signup and view all the answers

John is looking to purchase a property but first wants to verify the size of the lot. What document should John request from the owner that shows the exact size of the lot and house?

Survey Signup and view all the answers

The transfer of title to an asset with the consent of the owner is known as what?

Voluntary Alienation Signup and view all the answers

Which essential element of a deed refers to the actual signing of the deed?

Execution Signup and view all the answers

This type of deed can be used when an owner of a property is looking to transfer the property to a company he/she owns?

Quitclaim Signup and view all the answers

Jim is looking to purchase a property but first wants to verify if there are any outstanding violations or complaints. Where should Jim go to find this information?

Department of Buildings Signup and view all the answers

What warranty is typically NOT provided in a Full Covenant and Warranty Deed?

There are no outstanding violations Signup and view all the answers

A mode of acquiring property that involves the addition of value to property through labor or the addition of new materials is known as what?

Accession Signup and view all the answers

Land that has been put aside for a public use by a deed which states exactly what the property will be used for is known as what?

Dedication by Deed Signup and view all the answers

Which of the following serves as the grantor in a transaction?

Seller Signup and view all the answers

This type of deed is used when two owners want to partition their ownership in the property?

Referee's Deed Signup and view all the answers

This consists of the written words which delineate a specific piece of real property?

Description Signup and view all the answers

This type of deed has no warranties and no covenants against grantor's acts?

Quitclaim Signup and view all the answers

Study Notes

Legal Concepts and Terms

Accession: Ownership of additional land resulting from natural or man-made deposits along a river delta.
Adverse Possession: Acquiring title through continuous, open, notorious, exclusive occupancy for a statutory period.
Alluvion: Land gain due to natural processes, known as accretion.
Avulsion: Sudden change in land due to water action or change in stream courses.

Types of Deeds

Bargain and Sale Deed: Conveys real property without covenants.
Full Covenant and Warranty Deed: Provides the strongest title guarantee.
Quitclaim Deed: Transfers grantor's interest without covenants; often used to clear title.
Executor Deed: Used when property is sold following a person's death; recites full consideration.
Referee's Deed: Typically delivered by a third party, used in foreclosure or partition actions.

Transactions and Roles

Grantee: The buyer in a transaction; receiving property rights.
Grantor: The seller, transferring property rights.
Administrator: Appointed to manage an estate without a will; oversees property transfer.
Executor: Appointed to manage an estate with a will; carries out testator’s wishes.

Property Descriptions and Requirements

Habendum Clause: Defines the grantee's interests and rights; known as the "to have and to hold" clause.
Metes and Bounds: A method for describing land boundaries using terminal points and angles.
Lot and Block: A property identification method based on plat maps with specific block and lot numbers.
Statute of Frauds: Requires deeds to be in writing to be enforceable.

Legal Processes

Conveyance: The act of transferring property title from one person to another.
Survey: A measurement and area ascertainment process for a parcel of land.
Merger Doctrine: The principle that a contract for property conveyance merges into the deed upon transfer.

Recording and Compliance

Transfer Tax Return: Required documentation to accompany a deed in New York State.
Acknowledgment: A formal declaration verifying a person's execution of a document before an authorized officer.
Recording: Not mandated for deeds, yet serves as public evidence of ownership transfer.

Land Ownership and Use

Accretion: Addition of land through natural processes due to water or wind.
Dedication: Appropriation of land for public use, confirmed by deed.
Public Grant: A term for gifting land, usually from the government.

Rights and Covenants

Clear and Marketable Title: Warranty ensuring the property is free from encumbrances.
Covenants: Assurances attached to deeds regarding property use; such as easements or restrictions.

Understanding these terms and concepts is crucial in real estate transactions and property law.

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.