In real property law, alienation refers to the voluntary transfer of title and possession of real property to another person. This concept is an essential aspect of fee-simple ownership, ensuring the owner's right to dispose of their property, while generally prohibiting unreasonable restraints on alienation.
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.
Conveyance refers to the act of transferring the title of real estate property from one party to another. This term can also denote the medium or method used to effect such transfer.
Voluntary transfer of title or possession from one party to another; legally recognized handing over to another of one's possessory rights.
Good delivery is a term used in the securities industry to signify that a certificate has the necessary endorsements and fulfills all specified requirements (including signature guarantees, proper denomination, and other qualifications) so that the title can be transferred by delivery to the buying broker, who is then obligated to accept it.
A land contract, also known as a contract for deed or installment land contract, is a real estate installment selling arrangement where the buyer can use, occupy, and enjoy the land, but the deed is not delivered by the seller until all or a specified part of the sale price is paid.
An unrecorded deed is an instrument that transfers title from one party (grantor) to another party (grantee) without providing public notice of change in ownership. Recording a deed is essential to protect one’s interest in real estate.
