Transfer 1
Title Transfer When the title changes hands, this is called alienation. 2
Involuntary Alienation Involuntary Transfer of Title Without the owner s consent. 3
Involuntary Transfer of Title The owners acquires title to the newly-made land by accession, an addition to property through the efforts of man or by natural forces. 4
Involuntary Alienation Involuntary Transfer of Title Growth is called accretion, the natural process of adding soil to land, usually by water action, leaving earth or sand deposits. 5
Involuntary Transfer of Title Alluvion Sand or soil deposited on the bank of a waterfront property by wind and water. 6
Involuntary Transfer of Title Alluvian Original Shore Line 7
Involuntary Transfer of Title Dereliction Gradual recession of the water leaving the land that was formerly under water exposed. 8
Involuntary Transfer of Title Reliction New Shore Line 9
Gradual wearing away of the land due to the forces of nature is called erosion. Involuntary Transfer of Title 10
Involuntary Transfer of Title A sudden tearing away of the land caused by a violent change in the course of a river, stream or other violent loss of land is called avulsion. 11
Title is transferred without the owner s consent by law. Transfer by Operation of Law 12
Transfer by Operation of Law Condemnation Governmental agencies, railroads, or utilities can take title without the owner s consent by their power of eminent domain. 13
Condemnation Transfer by Operation of Law The taking must be for a public purpose. The owner must receive just compensation. 14
Transfer by Operation of Law Intestate Succession If a property owner dies without leaving a will, they are said to have died intestate. 15
Intestate Succession Transfer by Operation of Law The estate is distributed to the heirs according to the laws of decent and distribution. 16
Transfer by Operation of Law Intestate Succession If there is no will and no heirs the property will escheat to the state. 17
Intestate Succession Transfer by Operation of Law The rightful heirs are determined in probate court. 18
Transfer by Operation of Law Intestate Succession If there is no will or the party named in a will to settle an estate can not serve, the court appoints an administrator. 19
Community Property Transfer by Operation of Law Each spouse automatically owns onehalf of all property acquired during a marriage, except a gift or an inheritance. 20
Transfer by Operation of Law Adverse Possession A claimant must prove that the possession was Actual. (..moved in, made improvements, or cultivated the land..) 21
Adverse Possession Transfer by Operation of Law A claimant must prove that the possession was Hostile. (..without the owner s permission..) 22
Transfer by Operation of Law Adverse Possession A claimant must prove that the possession was Open. (..obvious and visible to the rightful owner..) 23
Adverse Possession Transfer by Operation of Law A claimant must prove that the possession was Notorious. (..so that the public could observe the control over the land by the occupant...) 24
Transfer by Operation of Law Adverse Possession A claimant must prove that the possession was Exclusive. (..not shared with anyone else..) 25
Adverse Possession Transfer by Operation of Law A claimant must prove that the possession was Continuous. (..in an uninterrupted pattern for the statutory required period..) 26
Transfer by Operation of Law Adverse Possession A person might add their time to the time of a previous occupant by a process called tacking. 27
Adverse Possession Transfer by Operation of Law Sometimes the required period can be shortened if the occupant has color of title. 28
Transfer by Operation of Law Adverse Possession An owner can order an unauthorized occupant off the land any time before all the requirements of adverse possession have been met. 29
Adverse Possession Transfer by Operation of Law When a claimant has met all the requirements for adverse possession, legal title is awarded through a quiet title action. 30
Transfer by Operation of Law Forfeiture of Title Fee Simple Determinable - Violation of the condition results in automatic reversion of ownership to the original grantor or the grantor s heirs. 31
Transfer by Court Action Partition Sale If the tenants cannot agree on a plan to sever their undivided interest, any one of the owners can file a partition suit. 32
Transfer by Court Action Partition Sale If it is not practical to divide the property a partition sale will be ordered, and the proceeds divided according to their percentage of ownership interest. 33
Foreclosure Sale Transfer by Court Action A court-ordered procedure for the sale of the property to satisfy the debts of the owner. 34
Transfer by Court Action Foreclosure Sale The owner usually gets any excess funds after all expenses of the sale have been paid. 35
Quiet Title Action Transfer by Court Action The court will award title to someone who has a proven claim to the property. 36
Transfer by Court Action Forfeiture of Title Fee Simple on Condition Subsequent - Upon proof of violation of the condition, court action will return the property to the grantor or grantor s heirs. 37
Voluntary Transfer of Title Transfer of title with the owner s consent is voluntary alienation. 38
Transfer by Government Patent of Public Grant A patent is the document used when the government conveys land to a private individual. 39
Transfer by Will The person who makes a will is called a testator. 40
The document that explains how that person wants their estate handled is called a last will and testament. Transfer by Will 41
Transfer by Will Transfer of real property is called a devise. The heir receiving it is a devisee. 42
Transfer by Will Transfer of personal property is called a legacy or bequest. The recipient is the legatee. 43
Transfer by Will The person named to carry out the provisions of the will is the executor. 44
When a person dies with a will they are said to have died testate. Transfer by Will 45
Transfer by Will Made freely and of sound mind genuine assent. 46
Transfer by Will Formal Will Is a typed or pre-printed instrument. 47
Transfer by Will Formal Will The testator signs the will in the presence of two or more witnesses, who also sign the will. 48
Transfer by Will Formal Will This process is called attestation. 49
Transfer by Will Holographic Will Is a handwritten will dated and signed by the testator. 50
Transfer by Will Nuncupative Will Is an oral will. It can only dispose of personal property. 51
Transfer by Will Any modifications to a will are made by a codicil. 52
If real property is being conveyed an executor s deed is used. Transfer by Will 53
Transfer by Gift A gift deed is sometimes called a voluntary deed. 54
Transfer by Gift The consideration is good consideration. 55
Transfer by Gift When a private owner gives property to a government entity for public use, it is called dedication. 56
Transfer By Sales - Deeds The person conveying is called the grantor. 57
Transfer By Sales - Deeds The person receiving it is called the grantee. 58
Deed Requirements Must be in Writing The Statute of Frauds provides that deeds must be in writing to be enforceable. 59
Deed Requirements Must be in Writing A deed is not assignable. 60
Deed Requirements Grantor Must be Named and Must be Legally Competent. The grantor must be of sound mind, and must be of age. 61
Deed Requirements Grantor Must be Named and Must be Legally Competent. A court-appointed guardian must sign a guardian s deed on behalf of an incompetent person or a minor. 62
Grantee Must be Named Deed Requirements The grantee does not have to be competent. 63
Grantee Must be Named Deed Requirements The grantee may use a fictitious name to take title. 64
Deed Requirements Consideration The deed does not have to show the exact amount paid to the grantor. 65
Deed Requirements Legal Description The deed is void if the description is vague or indefinite. 66
Deed Requirements Granting Clause The granting clause must clearly express the grantor s intent to convey the title. 67
Deed Requirements Granting Clause The granting clause must identify the type of interest being granted. 68
Deed Requirements Granting Clause If this clause is silent as to the interest being conveyed, the law assumes that it was a fee simple estate. 69
Signature of the Grantor Deed Requirements Only the grantor needs to sign the deed. 70
Deed Requirements Signature of the Grantor When a corporation is conveying, a corporate resolution signed by the board of directors is required. 71
Delivery and Acceptance Deed Requirements Title is conveyed when a deed is delivered to the grantee or the grantee s agent and accepted by that party. 72
Deed Requirements Delivery and Acceptance Doctrine of Relation Back death of the grantor does not revoke the agents authority to deliver the deed. 73
Delivery and Acceptance Deed Requirements Recording of the deed is not required for it to be valid. 74
Non-Essential Deed Provisions Date The date on a deed is not essential, but it is customary. 75
Habendum Clause Non-Essential Deed Provisions Describes the quantity and duration of the estate. 76
Non-Essential Deed Provisions Reservation Occurs when a grantor conveys a property, but reserves a life estate, or an easement of access. 77
Non-Essential Deed Provisions Exception Excludes from the conveyance some physical portion of the property. 78
Covenants of Title Are promises by the grantor that certain conditions of title exist. 79
Covenants of Title Seisin A promise by the grantor that the grantor does own the property. 80
Covenants of Title Against Encumbrances A promise that there are no encumbrances except those mentioned in the deed. 81
Covenants of Claim Quiet Enjoyment Promises that the grantee will not suffer interference from others with a superior title. 82
Covenants of Title Warranty Forever Obligates the grantor to compensate the grantee for any loss suffered in defending the title. 83
Covenants of Title Further or Future Assurances Obligates the grantor to produce any documents needed to perfect the title. 84
Legal Aspects of Deeds Seal Signed, sealed and delivered relates to a deed. 85
Legal Aspects of Deeds Seal An actual seal is no longer required in most states. 86
Legal Aspects of Deeds Attestation The procedure of a person witnessing the grantor s signature, and signing the deed as a witness. 87
Acknowledgement Legal Aspects of Deeds A formal declaration made by the grantor in the presence of an authorized official. 88
Legal Aspects of Deeds Acknowledgement Is not a requirement for a valid deed. 89
Acknowledgement Legal Aspects of Deeds A deed must have an acknowledgement if it is to be recorded. 90
Types of Deeds Warranty Deed Guarantee good title to the property. 91
Types of Deeds Doctrine of After Acquired Title Protects the grantee by providing that the grantee will have title to the property even if the grantor acquires the title at a later time. 92
Types of Deeds General Warranty Deed The five covenants of warranty apply. 93
Types of Deeds General Warranty Deed The grantor warrants the title against defects occurring during and before their ownership. 94
Types of Deeds Special Warranty Deed The Five Covenants of warranty apply. 95
Types of Deeds Special Warranty Deed Only protects against defects arising while the grantor owned the property. 96
Types of Deeds Grant Deed Protects the grantee with only the covenant of seisin, and the covenant against encumbrances. 97
Bargain and Sale Deed Types of Deeds Promises that the grantor has title, but contains no warranties about the condition of the title. 98
Types of Deeds Quit Claim Deed Only conveys any interest the grantor might have. 99
Types of Deeds Quit Claim Deed Does not promise that the grantor has title to the property. 100
Types of Deeds Quit Claim Deed Does not contain any promises or warranties of title. 101
Types of Deeds Quit Claim Deed Often used to remove a cloud on the title. 102
Special Purpose Deeds Gift Deed Without valuable consideration. 103
Special Purpose Deeds Deed of Trust Used in some states in place of a mortgage. 104
Special Purpose Deeds Deed of Reformation Used for correcting a mistake in another deed. 105
Court Ordered Deeds Special Purpose Deeds Used when an officer of the court is directed to convey title. 106
Special Purpose Deeds Court Ordered Deeds Sheriff s Deed - Used to convey title after a sale to satisfy a mortgage, judgment, or tax lien. 107
Deeds Executed by Court Appointed Representatives Special Purpose Deeds Guardian s Deed - Executed by someone acting on behalf of another person who is not legally competent. 108
Special Purpose Deeds Deeds Executed by Court Appointed Representatives Executor s Deed - Conveys property for someone who dies with a will. 109
Deeds Executed by Court Appointed Representatives Special Purpose Deeds Administrator s Deed - Conveys property for someone who died without a will (intestate). 110
Title Protection A title search would be done at the county courthouse in the county where the property is located. 111
Title Protection Constructive Notice Knowledge one is presumed by law to have, even though there is no actual knowledge of the fact. 112
Title Protection Constructive Notice Recording a document is one form of constructive notice. 113
Title Protection Constructive Notice Moving into the property is another form of constructive notice. 114
Title Protection Constructive Notice Cultivation of the land is also constructive notice. 115
Title Protection Actual Notice Knowledge acquired from what you have heard, seen, read or observed. 116
Title Protection Purpose of Recording To give notice to the world of the interest that document represents. 117
Title Protection Purpose of Recording It also establishes priority of a lien, with the exception of a property tax lien, and a mechanics lien. 118
Title Protection Requirements for Recording An acknowledgment is essential in most states, and some states require attestation. 119
Title Protection Indexing Systems Tract Index: Lists all of the documents that have been recorded on a particular parcel of land based on the legal description. 120
Title Protection Indexing Systems Grantor-Grantee Index: An alphabetical list of all grantors and grantees for each year. 121
Title Protection Title Reports Chain of Title: Reveals recorded instruments that create a continuous link of ownership from the original grant to the present owner. 122
Title Protection Title Reports Chain of Title: A complete title search in Georgia must encompass a minimum of 50 years. 123
Title Protection Title Reports Abstract of Title: Is a condensed history of all recorded documents which affect the title. 124
Title Protection Title Reports Cloud on the Title: Is a title defect. 125
Title Protection Title Reports Quiet Title Action: Is a court action used to remove a cloud on the title. 126
Title Protection Title Reports Certificate of Title: Used in some states in place of an abstract title. 127
Title Insurance A title policy protects against what may have happened in the past. 128
Title Insurance Recorded and some unrecorded title defects are covered. 129
Title Insurance The policy indemnifies against loss of value or marketability due to defects. 130
Title Insurance Exclusions from Coverage Water and mineral rights Public restrictions 131
Title Insurance Exclusions from Coverage Accrued taxes, not yet due Unrecorded easements 132
Title Insurance Exclusions from Coverage Facts revealed by an accurate survey. 133
Title Insurance Exclusions from Coverage Unrecorded rights of parties in possession. 134
Title Insurance Exclusions from Coverage Unrecorded liens 135
Title Insurance Lender s Policy Protects the lender against loss due to a title defect. 136
Title Insurance Lender s Policy Is good for the life of a loan. 137
Title Insurance Lender s Policy The policy is assignable. 138
Title Insurance Owner s Policy Protects the owner s equity in the property. 139
Title Insurance Owner s Policy Protection lasts, at a minimum, for as long as this owner or heirs have an interest in the property. 140
Title Insurance Owner s Policy It is not transferable. 141
Title Insurance Enhanced Policy Protects against risks not normally covered. 142