Kansas Statutes 58-3402. Definitions
Terms Used In Kansas Statutes 58-3402
- Conservator: means an individual or corporation appointed by the court to act on behalf of a conservatee and possessed of some or all of the powers and duties set out in Kan. See Kansas Statutes 77-201
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Deed: is a pplied to an instrument conveying lands but does not imply a sealed instrument. See Kansas Statutes 77-201
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: means an individual, partnership, corporation, organization or other association. See Kansas Statutes 58-3402
- Probate: Proving a will
- Records: includes probate and other official public records, as well as records in the office of the register of deeds. See Kansas Statutes 58-3402
- Root of title: means that conveyance or other title transaction in the chain of title of a person, purporting to create the interest claimed by the person, upon which the person relies as a basis for the marketability of the person's title and which was the most recent to be recorded as of a date 25 years prior to the time when marketability is being determined. See Kansas Statutes 58-3402
- Title transaction: means any transaction affecting title to any interest in land, including title by will, descent, tax deed, mineral deed, lease or reservation; by trustee's, referee's, guardian's, conservator's, executor's, administrator's, master in chancery's or sheriff's deed; by decree of any court; or by warranty deed, quitclaim deed or mortgage. See Kansas Statutes 58-3402
- Trustee: A person or institution holding and administering property in trust.
As used in this act:
(a) “Muniments” means the records of title transactions in the chain of title of a person purporting to create the interest in land claimed by the person and upon which the person relies as a basis for the marketability of the person’s title, commencing with the root of title and including all subsequent transactions.
(b) “Person” means an individual, partnership, corporation, organization or other association.
(c) “Person dealing with land” includes a purchaser of any estate or interest therein, a mortgagee, a levying or attaching creditor, a land contract vendee or any other person seeking to acquire an estate or interest therein, or impose a lien thereon.
(d) “Recording,” when applied to the official public records of any office or court, includes filing.
(e) “Records” includes probate and other official public records, as well as records in the office of the register of deeds.
(f) “Root of title” means that conveyance or other title transaction in the chain of title of a person, purporting to create the interest claimed by the person, upon which the person relies as a basis for the marketability of the person’s title and which was the most recent to be recorded as of a date 25 years prior to the time when marketability is being determined. The effective date of the root of title is the date on which it is recorded.
(g) “Title transaction” means any transaction affecting title to any interest in land, including title by will, descent, tax deed, mineral deed, lease or reservation; by trustee‘s, referee’s, guardian‘s, conservator‘s, executor‘s, administrator’s, master in chancery’s or sheriff’s deed; by decree of any court; or by warranty deed, quitclaim deed or mortgage.