590 Chapter 3

1. MBA 590
Real Estate Analysis
! College
of Business Alfaisal
UNIVERSITY

2. Chapter 3
!
Conveying Real
Property Interests

3. Chapter 3
!
Conveying Real
Property Interests

4. Issues
complex bundle
land history
description

5. Deed
conveyance document
public record
England 1677

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

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

8. Consideration
unlike most contracts,
not necessary

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

10. Warranty Deed
free of other claims
!
Quitclaim Deed
no guarantee

11. Covenants
Grantor insures
seizin
encumbrances
enjoyment

12. Habendum Clause
details of the rights
types and limits

13. Exceptions and
Reservations
limits
grantor may keep rights
!

14. Description of Land
unambiguous
survey
subdivision
government lots
!

15. GPS Laser Survey

16. Acknowledgement
grantor signs
notary or witness
!

17. Delivery
grantor must give
to grantor
!
may use third party

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

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

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

25. Public records

26. Title
title search
chain of title
title abstract
professional researchers
!

27. Land Descriptions
metes and bounds
point of beginning
direction and distance
!

28. Chain
100 links
66 feet

29. metes and bounds

30. subdivision plat

32. rectangle
system

34. Summary
complex bundle
land history
description