Podcast
Questions and Answers
A legal requirement stipulates that all property deeds be documented within public records. What principle does adhering to this policy ensure?
A legal requirement stipulates that all property deeds be documented within public records. What principle does adhering to this policy ensure?
- Automatic approval for future construction permits.
- Clear chain of title and protection of ownership rights (correct)
- Guaranteed increase in property value over time.
- Exemption from property tax assessments.
In what situation would 'Metes and Bounds' be essential within a real estate transaction?
In what situation would 'Metes and Bounds' be essential within a real estate transaction?
- Negotiating the sale price.
- Establishing the precise physical boundaries of a property. (correct)
- Determining the structural integrity of a building.
- Calculating property tax.
Which of the following is the purpose of the 'habendum clause' in a deed?
Which of the following is the purpose of the 'habendum clause' in a deed?
- Defines the type of interest and rights the grantee will have. (correct)
- States the purchase price of the property.
- Outlines the procedure for resolving boundary disputes.
- Specifies zoning regulations on the property.
If a property transaction lacks 'consideration', what is the likely legal consequence?
If a property transaction lacks 'consideration', what is the likely legal consequence?
Why is 'delivery and acceptance' a critical component for transferring property rights via a deed?
Why is 'delivery and acceptance' a critical component for transferring property rights via a deed?
What purpose does Schedule A typically serve in a real estate contract or deed?
What purpose does Schedule A typically serve in a real estate contract or deed?
How might the absence of a properly recorded deed affect a homeowner seeking a home equity loan?
How might the absence of a properly recorded deed affect a homeowner seeking a home equity loan?
Which scenario exemplifies the importance of the habendum clause?
Which scenario exemplifies the importance of the habendum clause?
A surveyor uses 'Metes and Bounds' to delineate a plot of land. What does this imply about the property's description?
A surveyor uses 'Metes and Bounds' to delineate a plot of land. What does this imply about the property's description?
What role does 'consideration' play in protecting parties involved in a real estate transaction?
What role does 'consideration' play in protecting parties involved in a real estate transaction?
Flashcards
Deed Recording Mandate
Deed Recording Mandate
The requirement that a deed to real property be recorded in the public record.
Habendum Clause
Habendum Clause
A clause in a deed or lease that defines the type of interest and rights to be enjoyed by the grantee or lessee; it is known as the 'to have and to hold' clause.
Delivery and Acceptance
Delivery and Acceptance
The formal act of transferring ownership of a deed, along with the recipient's agreement to accept the transferred interest.
Study Notes
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Legal policy dictates real property deeds become public record through proper recording
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Delivery and Acceptance refers to a deed to real property that must be properly recorded as a matter of public record
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The habendum clause in a deed or lease defines the type of interest and rights granted to the grantee or lessee
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The habendum clause is known as the "to have and to hold" clause
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Description
This lesson covers legal policies regarding real property deeds and their recording as public record. It also explains the habendum clause, often referred to as the 'to have and to hold' clause, which defines the interests and rights granted in a deed or lease.
