Acknowledgment in real estate refers to a formal declaration made before an authorized official by the person who signed a document, stating that it is their voluntary act.
Color of Title refers to a condition in which a claim to title appears on the surface to be valid but is fundamentally void due to some defect.
A formal depiction of the dimensions and location of a property; generally included in deeds, leases, sales contracts, and mortgage contracts for real property. Different methods such as government rectangular survey, lot and block, and metes and bounds are used for legal descriptions and plats.
Evidence of title refers to the legal documents that demonstrate ownership rights to a property. These documents are essential in confirming and asserting a person's or entity's legal property ownership.
A grantor is an individual or entity that conveys ownership of an asset, typically through the execution of a deed. This figure plays a key role in real estate transactions by transferring the title of property to a grantee.
The habendum clause is a section of a deed or lease agreement defining the interest and rights to be enjoyed by the grantee or lessee. It typically starts with the words 'to have and to hold,' followed by particular conditions or limitations to the estate granted.
Heirs and Assigns is a term often found in deeds and wills, used to grant a fee simple estate, indicating the intention that the recipient and their successors have full rights to the property.
Muniments of Title are documents that serve as evidence of ownership, facilitating the transfer of property rights by clearly demonstrating the chain of ownership.
A notary public is an official, authorized to perform certain legal formalities, including witnessing signatures on documents, to deter fraud and ensure proper execution of important paperwork.
Perpetuity refers to a condition of endless or indefinite duration, commonly used in finance and real estate contexts to describe ongoing income streams or property rights.
Recording is the process of formally documenting instruments affecting the title to real property in a public registry, thus giving legal notice of the recorded facts to the world.
A registrar is responsible for maintaining accurate official records, including deeds, mortgages, and other important documents in real estate transactions.
A state law that stipulates that certain contracts must be in writing to be enforceable. This includes deeds, mortgages, and other real estate contracts, except for leases shorter than one year.
In real estate, the term 'valid' refers to documents or agreements that have legally binding force and are authorized by law. Examples include valid deeds, wills, leases, mortgages, and other contracts.
