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Massachusetts Real Estate Salesperson Exam

Terms

undefined, object
copy deck
escheat
a reversion of property to the state when a person dies with no will or heirs
riparian
rights of a landowner bordering a natural watercourse such as a lake, river, or stream
littoral
rights of a landowner on bank or shore of a sea, ocean, or large lake.

rights extend to mean highwater mark.
severance
act of removing something from the land
tenemants
property rights of a permanent nature
disposition
the right to sell, will, give away, dedicate or in any way dispose of the property
accretion
gradual build up of soil by water
adverse possession
acquiring title to property through prolonged and unauthorized occupation
acre
43,650 square feet
alienation
transfer of ownership of real esate from one person to another
alluvion
increase in land by soil deposited by water
attorney-in-fact
one authorized to act in another's behalf
accession
acquiring ownership of fixtures left by the tenant
annexation
affixed; permanently attached to real esatte
appurtenance
a right or privilege included with ownership of land; such as an easement
emblements
annual plantings requiring cultivation
hereditaments
real or personal property which passes at death
condemnation
the legal action in eminent domain procedure
incorporeal
intangible (personal property)

vs. corporeal (tangible) property
police power
the right of government to enforce laws for the protection of its citizens
avulsion
the sudden removal of land by action of water
bargain and sale deed
a deed of title with no warranties.

It does imply that the grantor has possesion of or a claim or interest in the property conveyed. Used by trustees, fiduciaries, executors, and court officers.
base lines
latitude line used in government survey land descriptions
certificate of title
evidence of ownership issued by the land court to registered owner
cloud on title
an apparent defect in title
color of title
something having the appearance of ownership, but may or may not be true title
covenant
a written agreement or promise in a contract
dedication
the voluntary conveyance of private land to the public
deed
a written insturment that when properly executed and delivered conveys title to land
devise
a gift of real estate by will
durable power of attorney
a power of attorney that continues after the principal's death
general warranty deed
provides best guarantee of title
contains all five warranty covenants:
1)covenant of seizin
2)covenant against encumbrances
3)covenant of quite enjoyment
4)covenant of warranty of tile
5)covenant of further assistance
covenant of seizin
the grantor guarantees that he or she is owner of the property and has a right to sell it and convey title
covenant against encumbrances
the grantor warrants that there are no defects in or claims against the title other than those agreed to by the grantee and specifically set forth in the deed.
covenant of quiet enjoyment
the grantor warrants that title is conveyed free of interference from the acts and claims of third persons.
covenant of warranty of title
the grantor promises to pay for the cost of defending the grantee's title in actions by persons asserting rightful claims to the property
covenant of further assurance
the grantor warrants that he or she will perform any act necessary to perfect the title for the grantee.

for example, the grantor would be requireed to execute and deliver a new deed in order to correct an error in a preceding one.
grantee
the person named in the a deed who acquires ownership
grantor
the person conveying title
habendum clause
the "have and to hold" clause in a deed
indefeasible title
title which is guaranteed by the court under the torrens system or registered land system
intestate distribution
distributions of an intestate's property to heirs according to law of descent
legacy
personal property received under a will
administrator
a person appointed by the probate court to settle an estate when there is no will
Special Warranty or Limited Warranty Deed
A special warranty deed is similar to a general warranty ded, except that the grantor's liability to defend the title is limited to claims originating through the grantor and not to those which occurred prior to the grantor's tenure of ownership. (The grantor would not be responsible for a lien which was recorded prior to the grantor's taking title.)

This is called a Quitclaim deed in Massachusetts.
Quitclaim Deed
In Massachusetts, same as a special warranty deed, i.e. guarantor only responsible for liens during his tenure of ownership.

Generally, a transfer of the grantor's rights to real estate with no warranties or covenants of title
Bargain and Sale Deed with Covenant
The covenant changes the bargain and sale deed into a Special Warranty deed with the grantor warranting only that he or she has done nothing to encumber the property during his or her term of ownership.

In some states, this is referred to as a "grant deed".
metes and bounds
a method of land description by the use of boundaries with reference to distance and compass bearings
partition
to divide jointly held property into distinct portions so that each co-owner may hold his/her porportionate share in severalty
seizin
possesion of land by one who claims title, either rightfully or wrongfully
patent
public grant that transfers title to land from government to a private person.

Deck Info

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