Land Transaction Flashcards
6 guaranties under general warranty
- Seisen
- Right to convey
- Against Encumbrances
- restrictions and conditions covenant and restrictions - General warranty
- going to defend against lawful claims from others - Quiet enjoyment
- Further assurances
General warranty deed
6 warranties of title
Special warranty deed
Contains 6 warranties but only against those defects resulting from acts of this grantor
4 types of deeds
General warranty
Special warranty
Statutory short form deed
Quitclaim
3 requirements to be a valid deed
1: comply with statute of Frauds
2: be delivered (intent and acceptance)
3: be accepted
General warranty
All defects in title
Special warranty
Only against this grantors own acts
Damages for breach of sales contract
- Rescission
- Specific Performance
- Damages
Deposits
Traditional: even if deposit is more than sellers actual damages
Modern: seller cannot retain more than her actual damages
Negative easement
LASS
Light
Air
Support
Stream water from an artificial flow
Minority:
Scenic view.
A is given the right to enter upon B’s land
A’s interest
Easement
A is given the right to enter upon B’s land and remove something attached to the land
A’s interest
Profit
A’s right to enforce restriction on use of B’s land;
Negative easement, real covenant, or an equitable servitude, depending on remedy that A seeks in event of breach
A given the right to require B to perform some act on B’s land
Real covenant or equitable servitude depending on remedy sought
Covenant = money damages
Equitable servitude = injunction
A is given a right to require B to pay money for the upkeep for specified facilities
Real covenant or equitable servitude
Depending on remedy
Appurtenant easement
Easement for access