Land Sale Contracts Flashcards
“Marketable Title” means
title which is reasonably clear from defects
Title acquired by adverse possession… is it marketable?
Title acquired by adverse possession is not marketable title. It is however legal title.
How do you make title acquired by adverse possession marketable?
In order to make the title marketable, you would need a judgment from a court to make it marketable – e.g. quiet title.
How can marketable title be conveyed?
By quitclaim or warranty deed
What is “tacking”?
Where two people adversely possess consecutively, they can tack their time together, so long as there is a privity relationship between them.
What is EQUITABLE CONVERSION?
When a contract is entered into, Buyer becomes the EQUITABLE OWNER of RP (bears the risk) and Seller becomes the owner of personal property (i.e. the right to payment of purchase price).
What covenants are included in a General Warranty Deed?
SHE REALLY EXCITES QUEER WOMEN, FUCKIN’ A!
Seisin Right to Convey Encumbrances Quiet Enjoyment Warranty Further Assurances
