Section 2 Barney Fletcher GA Questions And Answers
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Course
Barney Fletcher
Institution
Barney Fletcher
Section 2 Barney Fletcher GA Questions And
Answers
Right of Survivorship The right whereby a surviving joint tenant gains sole title to the
property
Junior Lien A lien whose claim upon the asset is subordinate to another lien. The order of
priority is usually established according to date o...
Section 2 Barney Fletcher GA Questions And
Answers
Right of Survivorship The right whereby a surviving joint tenant gains sole title to the
property
Junior Lien A lien whose claim upon the asset is subordinate to another lien. The order of
priority is usually established according to date of recordation.
indefeasible title Title which is guaranteed by the court under the Torrens system or
registered land system
Grant, Grantor, Grantee To transfer the title to real property by deed
The grantor is the person making the transfer;
the grantee is the recipient.
Grantee/Grantor Index alphabetically lists documents in public recorders office according to
grantees or grantors.
freehold An interest in real property of a life estate or greater
, Section 2 Barney Fletcher GA Questions And
Answers
Trust Deed An instrument held by a third party as security for the payment of a note.
Unlike a mortgage, a trust deed has a power of sale, allowing the trustee to foreclose non-
judiciary.
Title Theory State A state where the mortgage lender has title to the property until the debt
is repaid
quiet title action A court action brought to establish clear title; to remove a cloud on the
title It is used to determine who has rightful ownership in real property.
Lien Theory State A state where the mortgage lender has a lien on the property and the
borrower has title.
Grant Deed A deed using a granting clause assuring the grantee that the estate being
conveyed is free encumbrances placed on the property by the present owner and that the grantor
has not previously conveyed the property to anyone else.
General Warranty Deed Deed that offers the most protection in which grantor fully
warrants good clear title to the premises.
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