Competing Claimants

Question 1

Adverse Possession Elements

Answer 1

1- open, visible, notorious

2- actual

3- exclusive

4- hostile under claim of right or title

5- continuous for the statutory period

Question 2

Constructive adverse possession requires

Answer 2

1. color of title

2. actual possession of a significant part of the land

Question 3

Mistake Boundaries

Answer 3

1. Majority (objective)- possession is hostile as long as possessor intends to claim the land
2. Minority (subjective)- possess must actually know he has crossed the boundary

Question 4

Oral Settlements of Boundary Disputes

Answer 4

1. enforceable is the parties subsequently accept the line for a long period of time

Question 5

Tacking in Adverse Possession is allowed…

Answer 5

if there is a transfer of estate from the Adverse possessor to another.

Question 6

The statute of limitations for adverse possession can be tolled in the following instances

Answer 6

1. infancy
2. incapacity
3. imprisonment

***must be in effect at the time the adverse possessor

Question 7

SOF requires

Answer 7

1- description of the property

2- description of the parties

3- price

4- any conditions of price or payment

Question 8

Exception to SOF

Answer 8

Doctrine of Part Performance:

1- payment of all or part of the purchase price

2- actual possession; and

3- substantial improvements

• 4 equitable estoppel
• 5 promissory estoppel

Question 9

Equitable Conversion

Answer 9

A purchaser becomes equitable owner of title and bears risk of loss at the time of K formation.

***Uniform Vendor & Purchaser Risk Act shifts to seller

Question 10

Marketable Title

Answer 10

title that is reasonable free from fact or law

1. no defects in chain of title
2. no encumbrances
3. no significant encroachments
4. no zoning restrictions

Question 11

If title is unmarketable what may the purchaser get?

Answer 11

1. rescission of the K
2. money damages for breach of K
3. specific performance with an abatement

Question 12

Duty to Disclose defects

implied warranty of quality or habitability

Answer 12

A seller of a residential home has a duty to disclose material latent defect known but not readily observable to the buyer

***applies to commercial builders and developers

Question 13

Seller’s Remedies at Law for Buyers Breach

Answer 13

1. expectation damages
2. foreseeable consequential damages
3. reasonable reliance damages
4. retention of a down payment
5. liquidated damages
6. punitive damages

Question 14

Seller’s Remedies in equity for Buyers Breach

Answer 14

1. rescission of the K

2. specific performance (questionable)

Question 15

Buyers Remedies At Law for Seller’s Breach of Contract

Answer 15

1. expectation damages
2. foreseeable consequential damages
3. reasonable reliance damages
4. restitution of a down payment
5. punitive damages

Question 16

Buyers Remedies in equity for Seller’s Breach of Contract

Answer 16

1. rescission of the K

2. specific performance (with abatement)

Question 17

If the seller dies before the execution of the K…

Answer 17

Legal title passes to the the estate, and estate must honor the K

Question 18

If the buyer dies before the execution of the K…

Answer 18

the party takes the decedent;s realty but may demand closing to satisfy other leins

Question 19

When do covenants merge with the dee

Answer 19

at closing

Question 20

3 Types of Deeds

Answer 20

1- general warranty deed (6 covenants)

2- special warranty deed

3- quitclaim deed

Question 21

What are the 3 present covenants?

Answer 21

1- covenant of seisin

2- covenant of right to convey

3- covenant against encumbrances

***present covenants are broken at the time of conveyance, but do not run with the land

Question 22

What are the 3 future covenants?

Answer 22

1. covenant of quiet enjoyment- no superior claim
2. covenant of warranty- help defend and compensate against claim
3. covenant of further assurances-promise perfect title defects

***breached only when grantee is evicted or is forced to buy a paramount claim

Question 23

What are the remedies for breach of covenant by the grantor?

Answer 23

monetary damages

Question 24

conveyance of real property by deed requires

Answer 24

1- donative intent

2- deliver; and

3- acceptance (presumed if beneficial)

Question 25

A presumption of deliver arises if in what 3 situations?

Answer 25

1- deed is found in grantees possession

2- deed is properly executed and recorded

3- deed contains an attestation clause that attests to delivery

Question 26

Death Escrow

Answer 26

Grantor gives a 3rd party to deliver at grantor’s death.