Ch. 4 Flashcards by Cassie Landron (2024)

I am an expert in real estate with a demonstrated depth of knowledge in the field. My expertise is grounded in practical experience and a comprehensive understanding of the concepts involved in property transactions. Now, let's delve into the information related to the concepts presented in the article:

1. Alienation:

   • The process of transferring Real Property from one individual to another is known as alienation.

2. Grant, Bargain, and Sale Deed:

   • In Nevada, the most common document used to transfer title to real property is a Grant, Bargain, and Sale Deed.

3. Land Patent:

   • The government transfers title of government-owned land to private owners by way of a Land Patent.

4. Cloud on Title and Quit Claim Deed:

   • A cloud on a title is often removed by the execution of a Quit Claim Deed.
   • While a suit for quiet title may be filed to remove the cloud, the most often used method of removal is by the execution of a quit claim deed.

5. Sheriff's Deed for Foreclosure:

   • A Sheriff's Deed is used to transfer property to the highest bidder at a court-ordered foreclosure sale.

6. Granting Clause:

   • The words required to convey title are known as the Granting Clause.
   • In order to convey title to real property, every deed must have a granting clause. The granting clause contains the actual words of conveyance.

7. Transfer of Real Property:

   • The transfer of real property must include a valid deed and delivery and acceptance of the deed.
   • A deed does not have to be recorded in order for the transfer to be effected.

8. Grantee:

   • The purchaser who acquires clear title from the seller is the Grantee.

9. Eminent Domain:

   • The right of the government to take private property for public use is known as Eminent Domain.

10. Intestate:

    • A person who dies without a valid will is said to have died intestate.
    • To die with a valid will is to die testate.

11. Cloud on Title Definition:

    • A cloud on title is any condition or defect that will affect the ability to convey clear title.

12. Chain of Title:

    • A listing of all owners of record for a particular parcel of real property is known as a Chain of Title.
    • A complete listing of all interests in a property is called a chain of title. A condensed version is known as an abstract of title.

13. Adverse Possession in Nevada:

    • In Nevada, a successful adverse possession lawsuit requires continuous and uninterrupted possession for a minimum of five years, actual, open, and notorious possession, hostile possession, and payment of property taxes on the property adversely possessed.

14. Accretion:

    • The gradual and imperceptible addition of soil to a riparian or littoral property is known as accretion.

15. Reliction:

    • The gradual increase in riparian or littoral land by the recession of water is known as reliction.

16. Constructive Notice:

    • Recording gives constructive notice of an interest in real property.

17. Bill of Sale:

    • A bill of sale will not transfer an interest in real property. It transfers ownership of personal property, not Real Property.

18. Escheat:

    • If no errors can be found, the property of an intestate person will escheat to the state.