REP_OH.12

REP_OH.12 - CM 426 REP 12 TRANSFER OF TITLE I TITLE VS DEED...

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CM 426 -- REP 12 TRANSFER OF TITLE I. TITLE VS. DEED A. TITLE -- WAY OF REFERRING TO OWNERSHIP 1. RIGHT TO OWNERSHIP OF LAND 2. EVIDENCE OF THAT OWNERSHIP 3. NOT A PRINTED OR WRITTEN DOCUMENT B. DEED 1. MUST BE IN WRITING (STATUTE OF FRAUDS) 2. TRANSFERS RIGHTS, TITLE OR INTEREST IN REAL ESTATE 3. GRANTOR (ONE WHO TRANSFERS) AND GRANTEE 4. DEED EXECUTED (SIGNED) ONLY BY THE GRANTOR 5. MUST BE RECORDED TO GIVE PUBLIC NOTICE OF OWNERSHIP II. TRANSFER OF TITLE A. VOLUNTARY ALIENATION 1. BY GIFT OR SALE 2. IF TRANSFER TAKES PLACE DURING LIFETIME OF OWNER, MUST USE A DEED TO CONVEY B. WHAT DOES DEED CONTAIN? 1. GRANTOR WITH CAPACITY TO SIGN DEED 2. GRANTEE MUST BE IDENTIFIED 3. RECITAL OF CONSIDERATION 4. GRANTING CLAUSE (WORDS OF CONVEYANCE) 5. HABENDUM CLAUSE (DEFINES OWNERSHIP TAKEN BY GRANTEE) 6. LEGAL DESCRIPTION OF PROPERTY 7. RELEVANT EXCEPTIONS, RESERVATIONS (“SUBJECT-TO” CLAUSES)
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8. SIGNATURE OF GRANTOR -- MIGHT REQUIRE WITNESSING 9. DELIVERY OF DEED AND ACCEPTANCE BY GRANTEE C. GRANTOR -- ONE WHO TRANSFERS 1. MUST BE OF SOUND MIND AND MUST BE OF LAWFUL AGE 2. NAMES MUST BE CORRECT, AND FORMER NAMES SINCE ACQUISITION SHOULD BE SHOWN D. GRANTEE -- ONE WHO RECEIVES 1. MUST BE SPECIFICALLY NAMED 2. IF MORE THAN ONE, GRANTING CLAUSE SHOULD SPECIFY GRANTEES’ RIGHTS (I.E. JOINT TENANCY REQUIREMENTS) E. CONSIDERATION 1. SUFFICIENCY MAY BE DEMONSTRATED BY “LOVE AND AFFECTION” 2. CUSTOMARY TO RECITE $10 AND OTHER GOOD AND VALUABLE CONSIDERATION F. GRANTING CLAUSE 1. GRANTOR’S INTENTION TO CONVEY THE
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REP_OH.12 - CM 426 REP 12 TRANSFER OF TITLE I TITLE VS DEED...

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