About This Chapter
Conveyance of Real Property - Chapter Summary
You can rely on our highly qualified instructors to explain the conveyance of real property. Recall information such as title insurance and marketable titles. The main points addressed in this chapter are:
- Importance of a marketable title
- Risks associated with ownership rights
- Why title insurance is important with real estate transactions
- How to make a deed valid
- How real estate is transferred after a death
- Redemption of foreclosed properties
- Deeds in lieu of foreclosure
- How landowners can protect themselves against adverse possession
- Parties involved in closing
Every lesson in this chapter is paired with a brief and helpful self-assessment quiz. Depending upon the assessment outcome you may decide to go back into the lessons and review the information again. You can take the quiz as many times as you need to before moving forward.
1. Marketable Title: Definition & Importance
One of the most important concepts in real estate sales you'll probably never hear about unless you don't have it is marketable title. In this lesson, you'll learn what marketable title is and why it's important.
2. What is a Property Title Search? - Definition & Importance
In real estate there are risks associated with ownership rights in the title to property. Learn how title searches are performed to disclose potential liabilities. Take a quiz after the lesson to test your knowledge.
3. What is Title Insurance? - Definition & Purpose
Title insurance differs from most types of insurance. Policyholders are protected from liabilities that have occurred in the past as opposed to something that may occur in the future. Learn what title insurance is and why it is an important part of real estate transactions.
4. Transfer By Deed: Definition & Requirements
In any voluntary sale of real estate, the deed is the most essential legal instrument. In this lesson, you'll learn what a deed is, what it does, and what is required to make it valid and enforceable. A short quiz follows.
5. Transfer of Property Rights By Will or Intestate Succession
Every day real estate is transferred not by sale, but by reason of death. In this lesson, you'll learn about how real estate is transferred by a person's will or through intestate succession. A short quiz follows.
6. The Property Foreclosure Process
In this lesson, we will discuss the process of judicial foreclosure and a lender's opportunity to pursue a deficiency judgments. We will also discuss the concepts of equitable and statutory redemption of foreclosed properties.
7. Deed in Lieu of Foreclosure: Definition & Effects
Sometimes homeowners cannot avoid defaulting on their home loans. That doesn't necessarily mean they must suffer through foreclosure. In this lesson, you'll learn about deeds in lieu of foreclosure and what they entail. A short quiz follows.
8. What is Adverse Possession? - Definition, Law & Cases
In this lesson we will explore the legal theory of adverse possession. We'll explore the conditions that are required to be met and some of the ways landowners can protect themselves from it.
9. Real Estate Closing & Settlement Procedures & Parties
The closing or settlement procedure concludes a real estate sale. In this lesson, we will identify who is involved in closing and give a general overview of the process.
Earning College Credit
Did you know… We have over 200 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.
To learn more, visit our Earning Credit Page
Transferring credit to the school of your choice
Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.
Other chapters within the North Carolina Real Estate Broker License: Study Guide course
- Agency Relationships
- Types of Contracts
- Real Estate Contracts
- Real Property Ownership
- Land Use: Restrictions, Regulations & Government Control
- Finance & Financing in Real Estate
- Government Oversight in Real Estate
- Real Property Measurement & Valuation
- Marketing Regulations in Real Estate
- Property Management & Tenant Rights
- Real Estate Calculations
- North Carolina Real Estate License Law
- General Real Estate Topics
- North Carolina Real Estate Broker License Flashcards