Land Titles and Deeds

Land Titles and Deeds

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