BACKGROUND, BASIC CONCEPTS & GENERAL PRINCIPLES
Land
Title – evidence
of right of owner or extent of his interest, by which means he can maintain
control and as a rule assert right to exclusive possession and enjoyment of
property
Deed
– instrument in writing which any real estate or interest therein is created,
alienated, mortgaged or assigned or by which title to any real estate may be
affected in law or equity
1.
Grantor
2.
Grantee
3.
Words of grant
4.
Description of property
5.
Signature of grantor
6.
Witnesses
Types of estates:
1.
Freehold
estate – indicates title of ownership
a.
Fee simple – absolute title;
conferred without limitation, qualification or restriction
b.
Fee tail – pass title to grantee
& his heirs
c.
Life state – held for duration of
life of grantee
2.
Less
than freehold estate – a right short of title
a.
Estate for years – lease for a
period agreed upon, lessor retains ownership of land
b. Tenancy from period to period –
lease running from month to month or year to year with automatic renewal
c.
Tenancy at will – person is
permitted to occupy land of another without stipulation as to period
3 Stages of Development of
Legal System of Transferring Titles:
1.
Production & delivery of deed
by grantor to grantee without registration
2.
Deed of conveyance is recorded to
bind 3rd persons
3.
Registration of title
Registration
– guarantees the title
Recording
– does not guarantee the title; need to examine other docs
Purpose of Registration:
1.
Serve as constructive notice
2.
Prevent fraudulent claims
3.
Protect interest of strangers to
transaction
Modes of Acquiring Land
Titles:
1.
Title by public grant –
conveyance of public land by government to a private individual
2.
Title by acquisitive prescription
– open, continuous, exclusive, notorious possession of a property
3.
Title by accretion – alluvium
4. Title by reclamation – filling of
submerged land by deliberate act and reclaiming title thereto; government
5.
Title by voluntary transfer –
private grant; voluntary execution of deed of conveyance
6.
Title by involuntary alienation –
no consent from owner of land; forcible acquisition by state
7.
Title by descent or devise –
hereditary succession to the estate of deceased owner
8. Title by emancipation patent or
grant – for purpose of ameliorating sad plight of tenant-farmers; not
transferable except by hereditary succession
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