Property

Question 1

License

Answer 1

Merely a privilege to go upon another’s land

Question 2

Easement

Answer 2

Nonpossessory interest in land. Holder has the right to use another’s land

Question 3

Profit

Answer 3

Nonpossessory interest in land. Holder has the right to go upon another’s land and take soil or a substance of the soil (e.g., mineral, timber)

Question 4

Real Covenant

Answer 4

Nonpossessory interest in land. Written promise to use or not to use land in a certain manner, and doesn’t confer a right to possess the land on the covenantee

Question 5

Race Notice Jurisdiction

Answer 5

Recording act that alters the common law rule “first in time, first in right” to protect subsequent BFP. In order to prevail over prior grantee, subsequent BFP msut record before prior grantee records.
* BFP will not prevail over prior grantee under race-notice without recording

Question 6

Subsequent Bona Fide Purchaser

Answer 6

One who gives valuable consideration and lacks notice (actual, inquiry, record) of the prior conveyance.
1. BFP doesn’t need to record before they learn of the prior grant
2. notice requirement of BFP is measured from time of subsequent grantee’s receiving her conveyance
3. BFP who lacked notice at the time of conveyance, then learned of the prior itnerest, and recorded can still prevail over prior interest

Question 7

Notice Jurisdiction

Answer 7

Requires only that subsequent purchaser have no actual or constructive (i.e. record or inquiry) notice at the time of the conveyance.
* Subsequent BFP need not record in order to prevail over prior grantee who failed to record.