FRECI_9-1 - Lecture Preview Florida Real Estate Commission...

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1 Florida Real Estate Commission Course I Pre-Licensing Course for Sales Associates Session 9 – Lecture 1 Title, Deeds, and Ownership Restrictions Copyright, 2004 2 Lecture Preview What will you learn from this lecture? Two methods of acquiring title Discuss the “or’s” and “ee’s” Copyright, 2004 3 Vocabulary Terms Adverse possession Condemnation Eminent domain Escheat Grantee Grantor Intestate Testate Title Copyright, 2004 4 What Is “Title ”? Legal concept of vested “bundle” of ownership rights Two methods of acquiring title: Voluntary alienation Involuntary alienation Disposition Exclusion Use Possession Copyright, 2004 5 Voluntary Alienation n Deed o Will Grantee Devisee (Heir) (2 types) 6 Grantor Devisor Vendor Mortgagor Grantee Devisee Vendee Mortgagee Deed Gift of RE Sale of RE RE as collateral Mortgagor Borrow “or” Lease of RE Lessor Lessee
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2 Copyright, 2004 7 Some Useful Terms Devise Gift of real property Testate
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FRECI_9-1 - Lecture Preview Florida Real Estate Commission...

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