60. Against whom can an action be maintained for a breach of a covenant running with the land?

Against any former owner of the land who, upon the conveyance of the land, made such covenant.

61. What are the conclusions to the deed?

These include the intestimonium clause together with the signing, sealing and witnessing.

62. How does a simple warranty deed differ from a warranty deed full covenant?

They differ in the number of covenants, the simple warranty deed having but the one covenant of warranty, while the full covenant has all five. The latter is the better form since it gives more protection to the grantee.

63. What is the chief feature of the deed with a covenant against the grantor?

A deed of this form is executed when the grantor is willing to answer for any default or wrongful act on his own part in the handling of the property but is not willing to become responsible for the fraud or neglect of a former owner.

64. What is the purpose of a quit claim deed?

This is the form of deed to be used in the sale of one of the lesser estates, as the conveyance of a widow's dower, and may be made either with or without covenants. It also differs from the warranty deed in the words of conveyance, for example would use the words "quit claim" instead of the words "grant and convey."

65. Who signs a deed?

A deed is a unilateral contract, that is, a one-sided contract, the grantee is merely passive in its execution, the grantor alone signs.

66. How shall a deed be signed?

In the proper place, usually at the end, and in most states with ink. If the grantor cannot write he may make his mark and some one signs for him. To the signature a seal is in some states affixed.

67. What may be used for the seal?

This is regulated somewhat by statute. In some states melted wax or the colored paper wafer must be used. In

others a circle or square may be made with the pen and the word "seal" written within, or the letters L. S. may be written or printed upon the deed.

68. What is implied from the use of the seal?

While formerly it was used for the signature, it is now said to imply consideration.

69. Who may act as witness to the signing of a deed? Any one of sufficient age and intelligence, who has no personal interest in the deed itself, may witness the signing. A minor may be a witness. Some states require one witness, others two.

70. What is the next step in the execution of a deed?

If the deed is to be recorded the grantor must have his acknowledgment taken.

71. What is acknowledgment?

The formal act of the grantor in going before a designated public officer and there stating under oath that of his own free will he executed the above instrument, is known as acknowledgment.

72. How is the evidence of this statement preserved?

At the end of the deed, mortgage, etc., there is ordinarily a blank form ready to fill out, to which form the officer attaches his signature and official seal, if any, as evidence of the proper acknowledgment. The deed may be delivered to the grantee either before or after acknowledgment.

73. What is the purpose of acknowledgment?

This act serves to establish the genuineness of the signature and the intention of the grantor to be bound. It militates against fraud, and also qualifies the instrument for record.

74. How is a real estate conveyance recorded?

In some office provided for that purpose in each county, an exact copy of the instrument is made upon books of record. In most states such record is made in the county clerk's office

75. When is a deed said to be recorded?

The copying in detail is not usually essential to the validity of the record, but it is said that the instrument is

recorded at the moment when it is received for recording by a legally authorized official. In some states the instrument, upon being received for record by a proper official, is said to be recorded from the date of its execution.

76. What are some purposes of such record?

Should the original copy of the instrument be lost, destroyed or stolen, there will usually remain the copy in the office of record by which the lawful owner of the property may establish his title. In case there should be more than one claiming title to the same property through a deed of conveyance, and yet all acting in good faith, the conveyance first recorded will take first claim.

Again, offices of record are, to an extent, open to the use of the public for the purpose of ascertaining the perfection or imperfection of a title. This is a great means of safety to any one desiring to purchase or to take a mortgage upon real property. Unrecorded conveyances will not prevail as against innocent purchasers who subsequently secure title and record their conveyance thereof.

Furthermore, under the law, a certified copy of the record of the deed can be used in evidence in any court with the same effect as if the original were produced.

77. What is a mortgage?

A real estate mortgage is a form of deed whereby title to real property is conveyed conditionally for the security of a debt or other obligation.

78. What are the parties to a mortgage called?

The party of the first part is called the mortgagor, the party of the second part the mortgagee.

79. What is the immediate purpose of a mortgage? A mortgage is given as security for a debt contracted, or for the securing of a loan of money.

80. How does a mortgage differ from a deed?

A deed is given for the purpose of conveying title conditionally or unconditionally, while the purpose of the mortgage is to secure the payment of a debt or the performance of some obligation.

They differ materially in form, the mortgage setting forth the amount of the debt to be secured, the time and manner

of payment of principal and interest, contains a clause known as the defeasance clause, which states that the mortgage shall be void in case the debt be paid, and also commonly contains insurance, tax and assessment clauses. These state how much insurance shall be carried, who shall bear the expense of the same, and fixes the liability for the payment of all taxes and assessments. In many states the mortgage may contain a clause stating the time and manner in which the holder of the mortgage may proceed to collect the amount of the debt in case the mortgagor shall fail to make proper payment thereon of either principal or interest, or otherwise fail to comply with the terms of the mortgage.

81. Should a mortgage be acknowledged?

Like

deed, if the instrument is to be recorded it must be acknowledged.

82. What is the purpose of recording a mortgage?

The object is to establish priority of title, and here, as in a deed, all parties acting in good faith, the mortgage first recorded has first claim. Also, as in a deed, a copy of the mortgage is preserved in a safe place of keeping and, in addition to this, prospective purchasers may acquaint themselves with the condition of the title to any particular property.

83. Can an absolute deed be shown by parol to be in the nature of a mortgage?

It can but the proof that such is the case must be clear. 84. What is the method of transferring a mortgage?

This is done by assignment and delivery, and the assignee takes only the same right or interest in the property that the mortgagee had. An assignment should be executed, acknowledged and recorded in the same manner as a mort

gage.

85. Can a real estate mortgage be lawfully assigned without a written assignment properly executed?

It can by mere delivery. This method of assignment, however, although lawful, is not advisable.

86. Can the same property be mortgaged more than once? Successive mortgages may be given whenever a person

is willing to make a loan to be secured by the already mortgaged property.

87. Can mortgaged property be sold?

Mortgaged property may be sold in one of two ways, either subject to the mortgage or the buyer assumes the mortgage. In the first case the buyer becomes in no way responsible to the mortgagor. In the second case should the buyer permit the property to be sold to satisfy the mortgage and the price received be not sufficient to do so, the buyer who assumed the mortgage is personally and primarily responsible to the mortgagor for the balance, and an action may be brought against him to recover the same. 88. What rights has a mortgagor in the mortgaged property?

Necessarily the right to the possession and use of the premises mortgaged, and in addition to this, the right known as "equity of redemption." This latter is the right which the mortgagor has to some further time after the maturity of the debt in which to make payment and thus redeem the title. This right may be assigned with the mortgage.

89. What is done if the mortgagor fails to pay the mortgage?

The mortgage is then foreclosed. This is a form of procedure by which the property is put to public sale and the proceeds are applied to the payment of the debt and the expenses of the sale. If there be any balance after the payment of the above it belongs to the mortgagor.

90. Under what circumstances does a grantee of real property, upon which there exists a mortgage, become personally liable for the payment of the mortgage?

Only when in the deed accepted by him he expressly assumes and covenants to pay the mortgage. He does not become personally liable for the payment of the mortgage by simply taking a deed of the mortgaged realty.

91. How is a mortgage foreclosed?

One method of procedure is to ask a court having jurisdiction to grant a decree directing the property to be put to sale in case payment should not be made within a certain time. The period of time to elapse is often fixed by statute.