Land Sale Contracts

Question 1

Marketable Title

Answer 1

If the vendor does not own the amount of acreage sepcified in the K, buyer’s right to claim a breach of the covenant of marketable title depends on whether the sale is in gross or per acre.

Question 2

Marketable Title: In Gross

Answer 2

Treated as the sale of the whole unit of prop as named in the K, and the acreage number mentioned in the K is ignored
- There is no guarantee as to size of land

Question 3

Marketable Title: Per Acre

Answer 3

Covenant is breached if the seller cannot deliver the contract’s specified number of acres

Question 4

Seller’s Duty to Disclose

Answer 4

Seller of 1 to 4 dwelling units must:
• disclose the physical condition of the property under contract, or
• must say that the property is being conveyed “as is”, and
• disclose any changes to the condition of the property that occur between signing of the K and closing

Question 5

Effect of seller’s breach

Answer 5

Misrepresentation by the seller allows the buyer to terminate the K

Question 6

Builder disclosure rule

Answer 6

• Builder of a new dwelling must disclose all known material defects that would violate any applicable building code.
• Disclosure must be in writing.

Question 7

Special Warranty Deed

Answer 7

• This is the kind of deed most frequently seen in VA.

* Seller warrants only that the seller herself has done nothing to create a title defect.

Question 8

Defective Deeds

Answer 8

A deed to a dead person is void, but the doctrine of equitable conversion will allow a deed to be made to the dead person’s estate.