Contract through Conveyance

Question 1

What is Equitable Conversion?

Answer 1

Under the doctrine of equitable conversion, upon signing of the land contract each party is entitled to specific performance.

Question 2

Under the doctrine of equitable conversion, the buyer owns the ________, and the seller owns the sale proceeds as his ______________.

Answer 2

(1) real property; (2) personal property

Question 3

What is the Covenant against Encumbrances?

Answer 3

In the Covenant against Encumbrances, the grantor assures the grantee that the interest is free from any encumbrances against the title or interest including mortgages, easements, servitudes, etc.

This is a present covenant which means it is breached at the time of the initial conveyance and does not run with the land to remote grantees.