Real property

Question 1

To be valid, a deed must:

Answer 1

(1) be in writing, (2) sufficiently describe the land, (3) identify the grantor and grantee, (4) evidence an intention to convey the land, and (5) be signed by the grantor

Question 2

Adverse possession elements

Answer 2

Continuous
Hostile
Actual
Notorious and open
Goes on for statutory period
Exclusive

Question 3

Subsequent bona fide purchaser

Answer 3

A purchaser who takes for valuable consideration and without actual, record, or inquiry notice of a prior instrument

Question 4

The recording acts do not protect subsequent purchasers against

Answer 4

Interests that arise by operation of law (e.g., title by adverse possession)

Question 5

The four unities

Answer 5

Time
Title
Interest
Possession

Question 6

Lien theory

Answer 6

One joint tenant’s execution of a mortgage on her interest does not by itself cause a severance; however, the mortgagee risks losing its interest if the mortgagor dies prior to forecloser

Question 7

Fee simple subject to condition subsequent

Answer 7

Created when the grantor retains the power to terminate the estate of the grantee upon the happening of a specified event. Upon the happening of the event stated in the conveyance, the estate of the grantee continues until the grantor exercises his power of termination by bringing suit or making reentry.

Words that create a conditions subsequent: “upon condition that”; “provided that”; “but if”; and “if it happens that”

Question 8

Fee simple determinable

Answer 8

An estate that automatically terminates on the happening of a stated event and goes back (reverts) to the grantor. Grantor holds a possibility of reverter.

Created by the use of durational, adverbial language like: “for so long as”; “while”; “during”; or “until.”

Question 9

How to differentiate recording statutes

Answer 9

“First” only = race statute
“Notice” only = notice statute
“Notice” and “first” = race-notice statute