Lesson_10 - Printable Lesson Materials Print these...

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Printable Lesson Materials 13218 NE 20th Street Bellevue, WA 98005 425-747-7272 800-221-9347 www.rockwellinstitute.com Print these materials as a study guide This portion of your printable materials consists of dozens of frames that summarize the content in this lesson. The frames are arranged on the page to make it easy for you to study the material and add your own notes from your textbook or the online course. Graphic Summaries Many students learn best from sets of questions, and this multiple choice quiz allows you to focus your review of the material to important topics. Quizzes These printable materials allow you to study away from your computer, which many students find beneficial. These materials consist of two parts: graphic summaries of the content and a multiple choice quiz . © 2009 Rockwell Institute
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1 California Real Estate Law © Copyright 2007 Rockwel Publishing, Inc. Lesson 10: Transfer of Real Property © Copyright 2007 Rockwel Publishing, Inc. Introduction This lesson will discuss: l requirements for a valid deed l types of deeds l wills l trusts l involuntary transfers © Copyright 2007 Rockwel Publishing, Inc. Title Person who owns property has title to it. Transfer of title from one owner to another may be: l voluntary: intentional act by owner l involuntary: without action by owner and/or against owner’s will
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2 © Copyright 2007 Rockwel Publishing, Inc. Deeds Ownership of real property begins with government. Title passes from government to private party through document called patent . l U.S. government once sold patents very cheaply (or gave land away for free) to encourage settlement. Government patents © Copyright 2007 Rockwel Publishing, Inc. Deeds Transfers between private parties occurs by deed. Deed : legal document in which owner (grantor) transfers property interest to another (grantee) l transfer by deed often called conveyance Transfers after patents © Copyright 2007 Rockwel Publishing, Inc. Deeds To be valid, a deed must: l be in writing l contain words of conveyance l include adequate description of the property l be signed by competent grantor l specify identifiable grantee l be delivered to the grantee l be accepted by the grantee Requirements for a valid deed
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3 © Copyright 2007 Rockwel Publishing, Inc. Requirements for a Valid Deed Any transfer of a real property interest must be in writing. l exception: lease for less than one year Writing © Copyright 2007 Rockwel Publishing, Inc. Requirements for a Valid Deed Deed must contain language (called granting clause) that actually conveys property to new owner. l examples: “convey,” “transfer,” “sell,” “grant” l granting clause must express intent to transfer ownership of interest Words of conveyance © Copyright 2007 Rockwel Publishing, Inc. Requirements for a Valid Deed Deed must contain legally adequate description of the property being transferred.
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Lesson_10 - Printable Lesson Materials Print these...

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