real estate unit 7 legal aspect
C. alienation
Voluntarily or involuntarily transferring or conveying property to another
G. deed
Written instrument used to immediately transfer title to real
property
from one person to another
O. granting clause
Words of purchase, such as grants, conveys, transfers, or sells
AA. quitclaim deed
Deed with no warranties
N. gift deed
Deed whose consideration is love and affection
S. involuntary alienation
Transfer of property against the wishes of the owner
M. foreclosure
Legal procedure lenders use to terminate the trustor’s or mortgagor’s
rights in real property to satisfy their liens
DD. trustee’s sale
Foreclosure method taking approximately four months
U. judicial foreclosure
Procedure lender uses to sell a mortgaged property with the
involvement
of a court
H. deficiency judgment
Personal judgment against a borrower for the balance of a debt owed
when the security for the loan is insufficient to pay the debt
V. partition action
Court proceeding to settle a dispute between co-owners by dividing
their
interests in real property
Z. quiet title action
Court proceeding to establish an individual’s right to ownership of
real
property against one or more adverse claimants
CC. tax sale
Forced sale of real property by the county to satisfy delinquent taxes
K. execution sale
Forced sale of property to satisfy a money judgment
I. eminent domain
Power of the government to take private property for public use
J. escheat
Property reverts to the state because the deceased owner left no will
and
has no legal heirs
P. holographic will
Will entirely in the handwriting of the testator
E. codicil
Later testamentary instrument that supplements validity or
disposition of
an earlier will
Y. probate
Legal process to prove that a will is valid
L. executor
Person named in a will to administer it
BB. settlor
Person who sets up a trust on behalf of a beneficiary
Q. inter vivos
Trust in which the settlor is still alive when the trust is established
R. intestate
Term describing a person who dies without leaving a valid will
T. issue
Descendants of the testator
W. per stirpes
Method of dividing property among the descendants of someone who has
died intestate
B. adverse possession
Obtaining title by occupying land for a statutory time period without
the
permission of the owner
A. accretion
Gradual enlargement of land through the accumulation of sediment
D. avulsion
Sudden, perceptible loss of land
F. constructive notice
Notice given by recording a document
X. priority
Order in which deeds are recorded