Missed M.C.

Question 1

When can you cancel a contract for sales of land if there is no marketable title?

Answer 1

If no marketable title, must give NOTICE and time to cure, the deadline is the date of delivery of the deed. So for installment contracts for sale of land, when the last payment is made and the deed is conveyed over, THAT is when the guy making the payments is allowed to cancel the K.

Question 2

Quitclaim deeds: Can you sell them if you have adverse possessory interest?

Answer 2

Quitclaim deeds STILL have the implied covenant of marketable title before the sale, so even if you offer to sell a quitclaim deed of your adversely possessed land, it still violates the implied covenant of marketable title

Question 3

Judgment liens as applied to race-notice statutes or even notice statutes:

Answer 3

Recording statutes DO NOT protect judgment lien creditors, so if they record an interest after a mortgage but before the mortgage records, they aren’t protected by recording statutes b/c they aren’t bona fide purchasers or anything

Question 4

easements what do you need to remember:

Answer 4

they must be in writing, you missed a question because it satisfied all elements of easement except it wasn’t in writing.

Question 5

If you have a right to mine another’s property, what is that called? If the gov’t takes it away by eminent domain

Answer 5

called right to profits, it is a property right so you have right to compensation if eminent domain occurs

Question 6

What if at the time of sale, the guy who sold you the property could sell it, and before you recorded, his authority to sell was revoked?

Answer 6

Doesn’t matter, you were a BFP at time of sale and just because you haven’t recorded it does not affect it.