Alienation refers to the conveyance or transfer of title and possession of property. This can be voluntary, i.e., carried out by the owner, or involuntary, without the owner's consent, such as in the event of condemnation.
A clear title, also known as a marketable title, is one that is free of liens, encumbrances, or other legal questions about the ownership of the property. A clear title ensures that the seller actually owns the property and has the right to sell it, allowing the new owner to enjoy full ownership rights.
To convey means to transfer ownership or interest in a property from one party to another, typically through the execution of a deed or other legal document.
A deed is a written document, properly signed and delivered, that conveys title to real property. It serves as a legal record of ownership and may include warranties or specific conditions. There are several types of deeds, including general warranty deeds, quitclaim deeds, and special warranty deeds.
Delivery refers to the transfer of possession of a thing from one person to another. In real estate, it typically involves the transfer of a deed or other documents to confirm possession.
Escrow is an arrangement in which a third party holds funds or documents on behalf of the primary parties involved in a transaction, pending the fulfillment of specified conditions.
The term 'Grant' in the context of real estate refers to the act of transferring ownership or a property interest from one party to another. This technical term is commonly used in deeds of conveyance.
The party to whom the title to real property is conveyed; essentially, the buyer in the transaction.
An Instrument is a written legal document created to establish the rights and liabilities of the parties involved. It is essential in the legal and real estate fields to ensure clarity and enforceability of the terms agreed upon by all parties.
A legal description is a formally recognized and unique identifier used to describe the precise boundaries of a parcel of real estate. It is essential for legal transactions including deeds, mortgages, and other property-related documents.
A nominee is an individual or entity acting on behalf of another person for specific purposes, generally to hold property rights temporarily.
A real estate contract defines the terms agreed upon by a buyer and seller regarding a real estate transaction. This legal document ensures all parties understand their obligations and rights.
Run with the Land is a legal term referring to rights or restrictions that extend to all current and future owners of a piece of property. These rights or restrictions are usually referenced in the property's deed.
A clause in a deed or other conveyance that cites the act and date, ensuring that all details such as names and legal descriptions are correct before signing.
Title in real estate is a legal document or designation that denotes ownership and interest in a property. It is evidence that the owner of land is in lawful possession thereof. Title differs from the right to possession alone, as it signifies both the right to possess and evidence of ownership.
