Essentials of a Deed
This 1677 English law, adopted by all U.S. states, requires real estate transfers to be in writing and signed.
What is the Statute of Frauds?
This deed contains no covenants at all, just the minimum deed essentials
What is a bargain and sale deed?
This term describes sole ownership of property by one person or business.
What is an estate in severalty?
When someone dies without a valid will, this term describes the situation.
What is intestate?
This method of acquiring title requires possession that is actual, visible, continuous, hostile, exclusive, and notorious.
What is adverse possession?
The party who gives up ownership in a deed is called this.
What is the grantor?
This deed conveys only whatever rights the grantor currently has, with key language "remise, release, and quitclaim forever"
What is a quitclaim deed?
This ownership type has NO right of survivorship — a deceased owner's share passes to heirs.
What is tenants in common?
In a will, the recipient of real property is called this.
What is a devisee?
A plausible but imperfect claim of ownership, such as an improperly prepared deed, is called this.
What is color of title?
This deed element must be unambiguous and can be metes and bounds, government survey, or recorded plat — NOT a street address.
What is the legal description?
This deed contains all five covenants and is the best deed a grantee can receive
What is a full covenant & warranty (general warranty) deed?
This "fifth unity," added to joint tenancy, is exclusive to married persons.
What is unity of person (tenancy by the entirety)?
If there are no heirs and no will, property reverts to the state through this process.
What is escheat?
This form of accession occurs when waterborne soil is gradually deposited, creating new dry land.
What is accretion (alluvion)?
Title does not pass until the grantor does this and the grantee accepts it.
What is deliver (the deed)?
This deed warrants title only against defects arising during the grantor's own ownership, typically used by executors and trustees
What is a special warranty deed?
These four unities are required for joint tenancy, remembered by the acronym PITT.
What are Possession, Interest, Time, and Title?
This business entity offers corporate liability protection with partnership-style pass-through taxation, capped at 75 shareholders.
What is an S corporation?
This 1862 federal law allowed settlers to acquire fee simple title by paying a filing fee and occupying/cultivating land for five years.
What is the Homestead Act?
This deed element refers to the value given by the grantee to the grantor to make the conveyance legally valid.
What is consideration?
This deed type, used notably in California, Idaho, and North Dakota, warrants no prior conveyance and no undisclosed encumbrances during ownership
What is a grant deed?
Recognized in 10 states and rooted in Spanish/French law, this system gives each spouse a one-half interest in property acquired during marriage
What is community property?
This type of trust takes effect during the creator's lifetime, paying income to named beneficiaries.
What is an inter vivos (living) trust?
This occurs when a deed contains a condition (like "residential use only") that the grantee violates, allowing the grantor to reacquire title.
What is forfeiture?