An Administrator's Deed is a legal document used to convey the property of a deceased person who died without a will, a situation known as intestacy.
Closing encompasses the completion of a transaction involving real estate or the final steps in accounting at the end of a fiscal period.
The closing date is the specified date on which the seller delivers the deed and the buyer completes payment for the property, finalizing the transfer of ownership.
A covenant is a legally-binding promise made in a deed that can be enforced as a contract. It often involves agreements or restrictions related to financial obligations or land use.
A legal document in writing that conveys an interest in land (real estate) from the grantor to the grantee, primarily functioning to transfer the title of the land.
An escrow agent is a neutral third party responsible for holding and managing funds or assets until predetermined contractual conditions are met, commonly used in real estate transactions.
A gift deed is a legal document used to voluntarily transfer ownership of property from one person (the donor) to another (the donee) out of love and affection, without any material consideration involved.
A habendum clause is a section of a deed that specifies the rights and interests being granted to the grantee, beginning with the words 'to have and to hold.'
Inherit the estate by statutory law if the ancestor dies without a will (intestate). In a broader sense, those who inherit by will, deed, or operation of law.
A title defect is an unresolved claim or issue against the ownership of property that prevents the presentation of a marketable title. Such claims may arise from various issues including failure of the owner's spouse or former part owner to sign a deed, current liens against the property, or interruptions in the title records of a property.
