Convey real estate is the legal transfer of property ownership from one entity to another. The seller, also known as the grantor, transfers the title to the buyer, or grantee. The property itself is the real estate being conveyed, and the deed is the legal document that records this transfer.
The Art of Crafting a Define Convey Real Estate Article
When conveying real estate, it’s crucial to define the property accurately to avoid confusion and potential disputes. Here’s the best way to structure your definition:
General Description
Begin with a brief description of the property, including:
- Address
- Legal description (lot and block numbers, if available)
- Type of property (e.g., single-family home, condo)
- Physical attributes (e.g., number of bedrooms, bathrooms)
Boundaries
Clearly define the property’s boundaries using the following elements:
- Metes and bounds: A detailed description of the property’s perimeter using specific measurements and reference points.
- Plat map: A graphical representation of the property’s boundaries, often attached to the deed.
Easements and Encumbrances
List all known easements and encumbrances that affect the property, including:
- Rights-of-way for utilities or access
- Liens or mortgages
- Covenants, conditions, and restrictions (CC&Rs)
Exceptions
Exclude any areas or features that are not included in the conveyance, such as:
- Mineral rights
- Personal property not attached to the property
Exceptions to Exceptions
In some cases, you may want to include exceptions to the exceptions. For example:
- Excluding mineral rights except for a specific oil well
Table of Inclusions and Exclusions
For clarity, consider using a table to list the inclusions (e.g., appliances, fixtures) and exclusions (e.g., personal belongings, artwork) of the conveyance.
Example:
Property Definition for 123 Main Street, Anytown, CA
General Description:
- Single-family home with 3 bedrooms, 2 bathrooms
- Legal Description: Lot 12, Block 5, Anytown Subdivision
- Physical Attributes: 1,500 square feet, 2-car garage
Boundaries:
- North: 100 feet bounded by Pine Street
- South: 100 feet bounded by Oak Street
- East: 50 feet bounded by Maple Street
- West: 50 feet bounded by Cherry Street
Easements and Encumbrances:
- Utility easement for power lines
- Mortgage: $200,000
Exceptions:
- Mineral rights
Exceptions to Exceptions:
- Exceptions to mineral rights: Oil well located in the northwest corner of the property
Inclusions and Exclusions:
| Inclusions | Exclusions |
|---|---|
| Built-in appliances | Furniture |
| Lighting fixtures | Artwork |
| Window treatments | Personal belongings |
Question 1: What is the definition of “convey” in the context of real estate?
Answer: Conveying in real estate refers to the legal transfer of ownership of property from one party (the grantor) to another (the grantee) through a deed.
Question 2: What are the elements of a valid conveyance of real estate?
Answer: A valid conveyance consists of the following elements: a grantor with capacity to convey, a grantee with capacity to receive, a sufficient description of the property, consideration, a legal delivery of the deed, and acceptance by the grantee.
Question 3: What is the significance of a warranty deed in a conveyance of real estate?
Answer: A warranty deed provides the grantee with the highest level of protection by offering a guarantee that the grantor has good title to the property and will defend against any claims against the title.
Well, there you have it! We hope this article has helped you better understand what it means to convey real estate. If you’re looking to buy or sell a home, be sure to consult with a qualified real estate agent who can help you through the process and make it as smooth and stress-free as possible. Thanks for reading, and be sure to visit us again soon for more helpful real estate tips and advice!