outline05 - Chapter 5 Deeds and Leases Lecture Outline...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 5 Deeds and Leases Lecture Outline Deed—written document that transfers title (ownership) to real estate from the grantor to the grantee Necessary Elements of a Deed Designation of the parties Consideration given by grantee Legal description Specific interest conveyed Signature of the grantor and witnesses Delivery and acceptance Additional Elements Covenant against encumbrances—a promise from the grantor to the grantee that there are no undisclosed encumbrances on the property that will affect the grantee’s ownership rights Covenant of seisin—a promise from the grantor to the grantee that the grantor is the legal owner of the property and has the right to convey it Covenant of quiet enjoyment—a promise from the grantor to the grantee that there are no third parties who might try to claim ownership of the property Covenant of further assurances—a promise from the grantor to the grantee that the grantor will assist the grantee in defending ownership of the property should the need arise in the future Warranty forever—a guarantee from the grantor to the grantee to honor the promises made in the deed forever.
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern