DEEDS

Question 1

deed

Answer 1

a document sufficient to convey legal title to real estate to another

Question 2

Livery of Seisin

before Statute of Uses

Answer 2

used to convey possessory estate

-went to land, stated intent & handed a chunk land to grantee

Question 3

Grant

before stat of Uses

Answer 3

used to convey a FUTURE interest

-formal, written document executed under a seal

Question 4

a future interest was conveyed by siesin……true or false?

Answer 4

FALSE, conveyed by grant.

Question 5

Bargain & Sale Deed

Answer 5

• AFTER Statute of USES

- conveyed equitable title to the vendee

Question 6

the statue of uses created the _____?

Answer 6

deed

bargain & sale deed

Question 7

if you get rid of statute of uses then……

Answer 7

No deed.

Question 8

consequent of statute of uses/bargain & sale deed

Answer 8

land could be conveyed purely in writing (no livery of seisin needed)

Question 9

B& S deed:

once equitable title was conveyed, the statute ______ forcing _____ ___ to convey also.

Answer 9

“executed”, “legal title.”

so now equitable title becomes legal

Question 10

will a real estate contract execute under statute of uses?

Answer 10

NO!!! as the vendor has more duties than merely holding legal title.
(thats why we have deeds)
remember—if you hold duty other than simple (in addition to legal title) than it does not work

Question 11

French v. French holding

hisotrically

Answer 11

“the statute of uses is a part of comm. law in U.S” so we can recognize that form of deed HERE. = comm. law deed transfers ok under the SOU

Question 12

today

Answer 12

most deeds are all form work, don’t draft own

Question 13

comm law deeds

Answer 13

orig. is bargain & sale deeds

Question 14

types of modern deeds:

Answer 14

1) warranty

2) quitclaim

Question 15

warranty deed

Answer 15

contains the grantor’s promises about what is being conveyed

Question 16

quitclaim

Answer 16

conveys whatever title the grantor has, if any

Question 17

a mass quitclaim deed is REALLY a…..

Answer 17

special warranty deed

Question 18

a true quitclaim deed in mass is called……

Answer 18

a quitclaim deed without covenants

Question 19

Deed had follwing sections:

in this order

Answer 19

• identity of parties
• words of conveyance
• description of land
• description of any reservation being maintained
• habendum clause w/any words of limitation
• the warranty, if being given
• the execution & acknowledgment of the deed

Question 20

What if deed is ambiguous?

construing ambiguous deed

Answer 20

1) examine extrinsic evident
2) still problem, courts will usu. construe in way that is most favorable to GRANTEE
3) Most courts don’t follow c/l formalism

Question 21

common law formalism in construing ambiguous deeds

Answer 21

would favor the language in the Granting Clause over contradictory statements found elsewhere in the document.
(what’s granting clause say?,,,,,well, there you go!)

Question 22

does statutory estoppel apply? (ucc)

Answer 22

No, because LAND is NOT a good

do use equitable estoppel

Question 23

Escrow

Answer 23

involves agent of 2 or more parties to a transaction:

• items of property are turned over to the agent
• the agent keeps them until specified conditions are satisfied
• once conditions satisfied, the agent forwards the items to their ultimate recipients

Question 24

Steps needed to properly convey land by deed

Answer 24

EXECUTED + Delivered

(escrow)-typically the type used is cause of probs

Question 25

escrow agent will hold the…

Answer 25

• deed from the seller (until he gets $ from bank & buyer)
• down payment from buyer (until he gets deed)
• money from bank (until it gets a mortgage)

Question 26

Does the transfer of the deed INTO escrow represent it’s delivery?

Answer 26

NO
a deed “held” in escrow is delivered as soon as ALL of the escrow conditions have been satisfied.
(delivery is not a physically based concept)

Question 27

When is a deed really delivered?

Answer 27

when all the escrow conditions have been satisfied, (not just if sitting in there by seller)

Question 28

What if deed is released from escrow before conditions met?

Answer 28

then NO delivery has occurred & deed is void

Question 29

What if grantor’s signature is forged?

Answer 29

then NO execution has occurred = void

Question 30

What if grantor is fraudulently induced to meet or waive the escrow conditions?

Answer 30

deed is only voidABLE & title Can pass to a BFP

Question 31

equitable estoppel applies to real estate “transactions?”

Answer 31

YES.
-if a title holder gives possession w/ an indicia of title (an executed deed) to another, a subsequent conveyance to a BFP will divest the title holder.

Question 32

divest?

Answer 32

to deprive someone of power, rights, possession

Question 33

never be an escrow agent :)

Answer 33

if you mess up, you are personally responsible.