Missed Exam Questions Flashcards
Can a co-tenant acquire sole ownership of a co-owner property through adverse possession>?
Yes, if they oust the other co-tenants by preventing them from using or accessing the property (and meet all the other requirements for adverse possession).
Can an easement be terminated by merger if there are any future interests?
No, where there is a future interest, use of the easement is suspended until the future-interest holder becomes entitled to possession.
Specific fact pattern, look for a person with a life estate conveying property, but there is a future interest.
If a person enters property under color of title and actually posessess a reasonable portion of the prop for the stat period do they have constructive adverse possession and to what part of the prop? 3 cabin problem.
Yes, they have constructive adverse possession, which give them title to the ENTIRE Prop.
Hinges on them using a reasonable portion of the prop. for the stat. period.
A judgement creditors Purchasers for value?
No since the attachment of a judgement lien to a debtors prop is merly security for a preexisting debt - not payment for value.
When is a deed delivered through a valid death escrow? (2)
- when the deed is given to an escrow agent with the instructions to transfer it to the grantor upon the grantor’s death,
AND - the grantor relinquishes the right to take back the deed. (KEY)
Scenario: giving deed to attorney to pass on death. Must relinquish right to take back deed.
Is using land to hunt rabbits less often than annually, considered continuous use for adverse possession.
No, there is no continuous use.
When a deed transfers ownership to a group of grantees, the identities of the group members must be:
Ascertainable with reasonable certainty - like the present members of the US Congress.
-Extrinsic evidence can be used to clarify ambiguities.
What is the title theory of mortgages?
The Lender receives legal title and mortgagor retain right of possession.
Title reverts to mortgagor once debt is paid.
If the lender takes possession under the title theory of mortgages, they have a duty to:
Take reasonable care of the property until foreclosure proceedings end.
This means that the lender has the duty to not commit waste, because the lender is liable to the borrower if the value of the prop. is reduced because of the lenders actions.
Therefore, the riskiest thing a lender can do is lease the house to a tenant during foreclosure proceedings.
What is the intermediate theory of mortgages?
Mortgagor retain title and possession until default, then full title passes to lender without foreclosure.
