Rowlett Real Estate School Blog

What is a Transaction Broker? A transaction broker is a broker who provides limited representation to a buyer, a seller, or both, in a real estate transaction, but does not represent either in a fiduciary capacity or as a single agent. In a transaction broker relationship, a buyer or seller [...]

Real estate agents are bound to certain rules of agency regarding relationships with their employing broker(s). A real estate sales associate’s authority to provide real estate services originates with the broker. Even though the real estate sales associate may perform most, if not all, of the real estate services agreed to, all the listings that you bring into the company belong to your broker.

What is a Bargain and Sale Deed? Normally, a bargain and sale deed consists of the granting clause, habendum clause, and covenant of seisin. However, in the bargain and sale deed, the grantor does not covenant or warrant to defend the title against any future claims or attacks on the title. The [...]

What is a Quitclaim Deed? The quitclaim deed is a deed by which the grantor quitclaims unto the grantee all of the grantor’s rights, title, and interest to the property, if any. The grantor makes no warranties about the quality or extent of the title being conveyed. This form of deed is [...]

What are the 4 Types of Statutory Deeds? There are 4 types of statutory deeds: Quitclaim deed Bargain and sale deed Special warranty deed General warranty deed These deeds are called statutory deeds because the law provides for a short form of deed in which the covenants or warranties mentioned [...]

What is the Habendum Clause? The habendum clause, so named because in medieval times it began with the Latin phrase habendum et tenendum (“to have and to hold”), limited the estate or tenancy being conveyed. Today, the habendum clause starts with the words “to have and to hold.” Usually, the word “forever” follows [...]

What are the Elements of a Deed? The formats of deeds may differ, as long as the intent to convey title is clearly expressed. Certain elements must be present in a deed to spell out clearly the necessary intent and the property to which it applies. Remember “CEDDING” for the [...]