UNIT 9 – TITLE, DEEDS AND OWNERSHIP RESTRICTIONS

You can expect to see seven questions on the end-of-course exam and seven questions on the state exam from this chapter.

Learning Objectives

After successfully completing this topic, you will be able to
• differentiate between voluntary and involuntary alienation,
• explain the various methods of acquiring title to real property and describe the conditions necessary to acquire real property by adverse possession,
• distinguish between actual notice and constructive notice,
• distinguish between an abstract of title and a chain of title,
• explain the different types of title insurance,
• describe the parts of a deed and the requirements of a valid deed,
• list and describe the four types of statutory deeds and the legal requirements for deeds,
• list and describe the various types of governmental and private restrictions on ownership of real property, and
• distinguish among the various types of leases.

Key Terms

abstract of titlegranting clause
acknowledgmentgrantor
actual noticegross lease
adverse possessionsground lease
alienationhabendum clause
assignmentintestate
chain of titlelien
condemnationnet leases
construction lienpercentage lease
constructive noticepolice power
deedquiet enjoyment
deed restrictionquitclaim deed
easementseisin
eminent domainsublease
encroachmenttestate
escheattitle
further assurancevariable lease
general warranty deedwarranty forever
grantee 

Overview

In this unit, you’ll learn about the various ways you can obtain the title to real property. The unit will describe the ways to give legal notice of your ownership rights. Because title to real estate usually involves substantial sums of money, you’ll learn how to be certain that your title is protected after the purchase, usually by buying title insurance. You’ll also learn about the different types of deeds and the various government and private restrictions on your ownership. In the last part, you’ll learn about the different types of leases.