Section 2
Country where the U.S. gotits property concepts from?
What is England?
permits, utility records, condemnations to be filed
What are records found at the local government?
chronological compilations of conveyances, and court actions
What is an Abstract of Title?
initially rights to occupy and own property were called this
What are claims?
an estate whose ownership is controlled by an individual
What is an estate in severalty?
He conquered England in 1066.
Who is William the Conqueror?
assessor records, deeds, mortgages
What are records found at the County government?
type of attorney who interprets the state of title
What is an Abstract Attorney?
one who possesses and exercises supreme authority within a limited sphere
What are the sovereigns?
a type of an estate in which 2 or more parties hold equal interests
What is joint tenancy?
System where noblemen paid rents to the King of England.
What was the feudal system?
corporation records, attorney general's office, environmental records
What are records found at the state government?
provides a preliminary report which shows the status of title prior to the proposed transaction
What is a title insurance company?
marital, corporations, partnerships, joint ventures
What are concurrent ownerships?
tenancy in which 2 or more parties share ownership of property but have no right to each other's interest
What is tenancy in common?
In addition to the deed, Englishmen received these documents that evidenced the previous title transfers.
What are the Muniments of Title?
U. S. District Court, Dept. of Interior
What are records found at the federal government?
covers unrecorded easements, encroachments, etc,
What is an extended title insurance policy?
those of legal age, non-citizens, minors through an appointed guardian
What is individual ownership?
property acquired by either spouse after marriage that is deemed by some states as belonging to each spouse as to an undivided one-half interest
What is community property?
Summary of property records on a parcel accompanied by a written attorney's opinion on the parcel's ownership.
Abstract of Title
four
What is the number of levels of government that have useful property records?
the full amount of the purchase price
What is the amount of the title insurance company's liability?
an interest of particular nature and quality
What is an estate?
an estate held only during the lifetime of a specified individual
What is a life estate?