Podcast
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?
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?
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?
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?
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?
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?
Signup and view all the answers
A deed conveying real property without covenants is known as what?
A deed conveying real property without covenants is known as what?
Signup and view all the answers
The buyer in a transaction is known as the?
The buyer in a transaction is known as the?
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?
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?
Signup and view all the answers
This type of deed contains the strongest guarantee of title?
This type of deed contains the strongest guarantee of title?
Signup and view all the answers
Joe is selling his house to Kevin for $520,000. Kevin is known as who in the transaction?
Joe is selling his house to Kevin for $520,000. Kevin is known as who in the transaction?
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?
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?
Signup and view all the answers
A deed and a contract have similar legal requirements in regards to what?
A deed and a contract have similar legal requirements in regards to what?
Signup and view all the answers
Who signs the deed prior to the transfer of title?
Who signs the deed prior to the transfer of title?
Signup and view all the answers
The statute of frauds requires what for deeds?
The statute of frauds requires what for deeds?
Signup and view all the answers
Which part of a deed describes the facts of the transaction?
Which part of a deed describes the facts of the transaction?
Signup and view all the answers
The New York General Obligations Law Section 5-703 refers to what?
The New York General Obligations Law Section 5-703 refers to what?
Signup and view all the answers
A legal description, as found in the Schedule A, is described using what?
A legal description, as found in the Schedule A, is described using what?
Signup and view all the answers
How many grantors must be included in the execution of a deed?
How many grantors must be included in the execution of a deed?
Signup and view all the answers
This type of deed must recite the full consideration in the transaction?
This type of deed must recite the full consideration in the transaction?
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?
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?
Signup and view all the answers
The type of deed is typically determined by what?
The type of deed is typically determined by what?
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?
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?
Signup and view all the answers
ACRIS can be found under which New York City website?
ACRIS can be found under which New York City website?
Signup and view all the answers
As a real estate agent, where should you search to find any records of violations on a property?
As a real estate agent, where should you search to find any records of violations on a property?
Signup and view all the answers
What type of deed is typically delivered by a 3rd party?
What type of deed is typically delivered by a 3rd party?
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?
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?
Signup and view all the answers
The seller in a transaction is known as the?
The seller in a transaction is known as the?
Signup and view all the answers
John is selling his house to Abby for $345,000. John is known as who in the transaction?
John is selling his house to Abby for $345,000. John is known as who in the transaction?
Signup and view all the answers
The addition of land through processes of nature, as by water or wind is known as what?
The addition of land through processes of nature, as by water or wind is known as what?
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?
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?
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?
A supreme title to land which was originally acquired within the United States of America by a treaty is known as what?
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?
The process by which a parcel of land is measured and its area ascertained is referred to as what?
Signup and view all the answers
Eminent domain is an example of what?
Eminent domain is an example of what?
Signup and view all the answers
The transfer of title during a typical 'arm's length' transaction is an example of what?
The transfer of title during a typical 'arm's length' transaction is an example of what?
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?
Abby is gifting her property to her family at the end of the year. Abby will be performing what type of transfer?
Signup and view all the answers
In New York State, what is required to be recorded along with the deed?
In New York State, what is required to be recorded along with the deed?
Signup and view all the answers
What is an example of a covenant that may be found in a deed?
What is an example of a covenant that may be found in a deed?
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?
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?
Signup and view all the answers
This type of deed is used only when the owner of the property is deceased?
This type of deed is used only when the owner of the property is deceased?
Signup and view all the answers
In cases where the buyer agrees to take lesser title, how may the purchase price be affected?
In cases where the buyer agrees to take lesser title, how may the purchase price be affected?
Signup and view all the answers
A method of identifying the legal description of a property is known as what?
A method of identifying the legal description of a property is known as what?
Signup and view all the answers
The means or medium by which title of real estate is transferred is known as what?
The means or medium by which title of real estate is transferred is known as what?
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?
A person or institution appointed by a testator to carry out the terms of their will is known as a/an?
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?
A term that is used for a gift of land that if from the government is known as what?
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?
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?
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?
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?
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?
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?
Signup and view all the answers
Which is NOT an essential part of deed?
Which is NOT an essential part of deed?
Signup and view all the answers
A deed is NOT required to cite what?
A deed is NOT required to cite what?
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?
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?
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?
In the case where the owner has died and left a will, the fiduciary appointed to represent the estate is known as a/an?
Signup and view all the answers
What warranty is typically NOT provided in a Full Covenant and Warranty Deed?
What warranty is typically NOT provided in a Full Covenant and Warranty Deed?
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?
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?
Signup and view all the answers
A clause is also known as the 'to have and to hold' clause?
A clause is also known as the 'to have and to hold' 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?
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?
Signup and view all the answers
This type of deed is usually used to remove a cloud from the title?
This type of deed is usually used to remove a cloud from the title?
Signup and view all the answers
What type of deed is used in a co-op transaction?
What type of deed is used in a co-op transaction?
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?
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?
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?
The proposition that the contract for the conveyance of property merges into the deed of conveyance is known as what?
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?
The covenant that states 'that the said premises are free from encumbrances', meaning what is being sold to the buyer, is known as what?
Signup and view all the answers
In an executor's deed, the deceased person is also known as who?
In an executor's deed, the deceased person is also known as who?
Signup and view all the answers
The transfer of the title of land from one to another is known as what?
The transfer of the title of land from one to another is known as what?
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?
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?
Signup and view all the answers
The transfer of title to an asset with the consent of the owner is known as what?
The transfer of title to an asset with the consent of the owner is known as what?
Signup and view all the answers
Which essential element of a deed refers to the actual signing of the deed?
Which essential element of a deed refers to the actual signing of the deed?
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?
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?
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?
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?
Signup and view all the answers
What warranty is typically NOT provided in a Full Covenant and Warranty Deed?
What warranty is typically NOT provided in a Full Covenant and Warranty Deed?
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?
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?
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?
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?
Signup and view all the answers
Which of the following serves as the grantor in a transaction?
Which of the following serves as the grantor in a transaction?
Signup and view all the answers
This type of deed is used when two owners want to partition their ownership in the property?
This type of deed is used when two owners want to partition their ownership in the property?
Signup and view all the answers
This consists of the written words which delineate a specific piece of real property?
This consists of the written words which delineate a specific piece of real property?
Signup and view all the answers
This type of deed has no warranties and no covenants against grantor's acts?
This type of deed has no warranties and no covenants against grantor's acts?
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.
