Académique Documents
Professionnel Documents
Culture Documents
Introductions
Who we are What we do Where we do it
How long weve been doing it
Objectives
At the end of the two days, you will be able to... Accurately determine current title conditions.
Have knowledge to acquire title sufficient to satisfy the requirements of employers.
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Housekeeping
Schedule
Day One 8:00 - 8:30Introductions, Etc. 8:30 - 9:00Background 9:00 - 9:45Public Records 10:00 - 12:00 Title Information Sources 1:00 - 1:30Who Can Hold/ Transfer Title
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Day Two 8:00 - 8:30Recap and Day Two 8:30 - 10:00 When Title Passes 10:15 - 11:15 Encumbrances 11:15 - 12:00 Staff Title Searches 1:00 - 2:45Grand Finale Exercise 3:00 - 3:30What Ifs 3:30 - 4:00Course Review 4:00 - 5:00Final Examination
Schedule
An 11th century document showing some of the holdings of Robert the Brus.
Public Records
Local County State
Federal
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Local Governments
City Clerk Comptroller Treasurer Assessor Economic Development Agency Department of Public Works City Engineer Other
County Governments
Assessor County Clerk Treasurer Economic Development Agency Department of Public Works District Court Other
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State Governments
Secretary of State Department of Environmental Resources Attorney Generals Office
Other
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Federal Government
District Court Department of the Interior Environmental Protection Agency Other
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Abstract of Title
a chronological compilation of conveyances, court actions, and other facts affecting title to a specific tract of land.
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Abstraction
provides copies of all recorded documents and court actions affecting a specific tract of land.
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Abstract Attorney
interprets the effects of the documents on title and provides a written report containing a legal description of the property searched, vested owners, and all parties having a property interests and their specific interest.
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The Sovereigns
Foreign Governments
Indian Nations
Federal Government
State Governments Local Governments
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Estates
an interest of a particular degree, nature quality, or extent that one has in property. Individual Estate
Collective Estates
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Individual Estate
is one whose ownership and control is enjoyed by a person free from other rights or controls.
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Collective Estates
is one whose ownership and control is enjoyed by more than one person or entity. Joint Tenancy
Tenancy in Common
Community Property
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Life Estate
Deeds (1)
Deeds (2)
Quitclaim
A deed that grants only whatever title or interest the grantor has to the property without any title warranty.
Deeds (3)
General Warranty/Grant
A deed whereby the grantor will defend title against any and all claims and demands.
Special/Limited Warranty
A deed whereby the grantor limits the warranty to only those acts committed by the grantor.
Statutory Warranty
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Deeds (4)
Street/Road/Railroad
A deed, although appearing to convey fee title, conveys only a right of way.
Easement
An instrument in which, a non-possessory interest is granted.
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Deeds (5)
Trust
An instrument used instead of a mortgage.
Trustee Deed
A deed used after a foreclosure on a trust deed.
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Deeds (6)
Fulfillment/Partial Fulfillment
Granted after some or all of the terms of a contract have been met.
Reconveyance/Partial Reconveyance
A deed granted by a trustee on instructions of the lender, after a promissory note has been paid.
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Deeds (7)
Release
An instrument that releases a property interest.
Sheriff
A deed granted as a result of a sheriffs sale.
Treasurer
A deed granted by a treasurer after a tax foreclosure.
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Deeds (8)
Executor/Executrix
A court approved deed associated with the terms of a will.
Administrator/Administratrix
A court approved deed when someone dies intestate.
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Deeds (9)
Guardian
An instrument whereby court approval is received prior to the property transfer. Survivorship Usually granted between spouses to establish transfer rights. Correction Used to correct errors.
Gift
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Eminent Domain
Governments right to take private property for public use.
Divorce Decrees
In community property states, divorce decrees may vest title in one person.
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Escheat
The reversion of property to the state.
Prescriptive Rights
Establishes rights in the property of another.
Statutory
Transfers property from one government to another.
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Bankruptcy
The administration of an insolvent debtors property.
Death
Testate: with a will. Intestate: without a will.
Probate
The process of proving in court that a will is valid.
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Maps
A declaration dedicating streets, etc. to the public.
Vacations
A governmental process by which the publics rights in property are relinquished.
Abandonments
A method to remove an easement.
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Interests
Definitions
Eminent Domain
4. The right of government to take property from a private owner for public use. 10. Actions to determine ownership, such as the settlement of a boundary dispute.
11. In community property states, may vest title to property in only one person.
Divorce Decree
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Interests
Definitions
Escheat
Prescriptive Rights
Bankruptcy
Testate
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Interests
Definitions
Intestate
Probate
Plat Dedication
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Interests
Definitions
Vacation
Statutory
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Contracts
Purchase Agreements An agreement to purchase, which, when accepted by the seller, becomes a contract. Land/Real Estate Contracts An installment purchase contract. Escrow Instructions When signed by the buyer and seller, it becomes a contract for an escrow agent to implement.
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Options
Option Agreements The right, or option, to purchase at an agreed to price, before a specific date. Lease/Purchase Agreements A lease with the option to purchase at predetermined terms.
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Other Instruments
Permits/Licenses
Authorize entry on to property for a specific purpose. Usually can be revoked at will.
Franchise Agreement
Rights granted to railroads and utilities to use assigned corridors within the public right of way.
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Indian, federal, state, local) and others (individuals and concurrent/groups) title holders.
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Voluntary Transfers
A voluntary transaction is made from a persons own free choice and consent. There is no legal requirement to do so.
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Involuntary Transfers
An involuntary transaction is made without a persons own free choice and consent.
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Encumbrance
is a claim against property.
Step Six: Check the "Grantee" Deed Index Book for his/her name to determine who conveyed the property to him/her.
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Property Description Covenants and Restrictions Building Restrictions Set-back Requirements Dedication and Acceptance of Streets Other Encumbrances
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What Ifs...
WHAT IF (divorce actions)? WHAT IF (encroachments)? WHAT IF (Death of an owner)?
WHAT IF (Misrepresentations)?
WHAT IF (Leasehold interests)?
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Objectives
Right now, you should be able to... Accurately determine current title conditions. Have knowledge to acquire title sufficient to satisfy the requirements of employers.
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Thank you!
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801-PT Revision 2 07.10.06.USA