Lecture 3

1. MGT 374
Real Estate Analysis
College
of Business
AlfaisalUNIVERSITY

2. Chapter 3
Conveying Real
Property Interests

3. complex bundle
land history
description
Issues

4. conveyance document
public record
England 1677
Deed

5. grantor and grantee
consideration
words of conveyance
Habendum clause
exceptions and reservations
description of land
acknowledgment
delivery

6. Grantor and Grantee
giver and receiver
only grantor need be
competent and exist

7. Consideration
unlike most contracts,
not necessary

8. Words of
Conveyance
“does hereby grant,
bargain, sell, and convey
unto …”

9. Warranty Deed
free of other claims
Quitclaim Deed
no guarantee

10. Covenants
Grantor insures
seizin
encumbrances
enjoyment

11. Habendum Clause
details of the rights
types and limits

12. Exceptions and
Reservations
limits
grantor may keep rights

13. Description of Land
unambiguous
survey
subdivision
government lots

14. GPS Laser Survey

15. Acknowledgement
grantor signs
notary or witness

16. Delivery
grantee must give
to grantor
may use third party

17. Types of Deeds
General warranty deed
Special warranty deed
Deed of bargain and sale
Quitclaim deed
Judicial deed

18. Reverter Clause
so long as….

19. Clouded Title
a claim that limits the
marketability

20. Title Insurance
protect against claims
against the property
seller usually provides

21. Involuntary Deed
probate
bankruptcy
divorce
condemnation
foreclosure

22. Involuntary Conveyance
without a Deed
easement by prescription
adverse possession

23. Five conditions
hostile to owner
actual use
open and notorious
continuous
exclusive

24. Public records

25. Title
title search
chain of title
title abstract
professional researchers

26. Land Descriptions
metes and bounds
point of beginning
direction and distance

27. Chain
100 links
66 feet

28. metes and bounds

29. subdivision plat

31. rectangle
system

33. complex bundle
land history
description
Summary