Property

Question 1

Recording statutes and installment sale contract

Answer 1

Purchaser is protected only to the extent of the amount paid in the installment sale contract
three options: (1) create TiC, (2) award to prior claimant, with amount to recover (3) award to contract purchser but make payments to former buyer

Question 2

deed is security on debt

Answer 2

(i) the existence of a debt or promise of payment by the deed’s grantor; (ii) the grantee’s promise to return the land if the debt is paid; (iii) the fact that the amount advanced to the grantor/debtor was much lower than the value of the property; (iv) the degree of the grantor’s financial distress; and (v) the parties’ prior negotiations. Here, the entrepreneur owed the friend a debt; t