Real Property Flashcards
If a property is conveyed to two persons as “joint tenants,” do you assume the right of survivorship?
NO – the deed from the grantor must expressly state a right of survivorship.
An indefeasibly vested remainder means that…
the future interest holder is certain to acquire the property and will be able to keep it forever.
Can a holder of a indefeasibly vested remainder convey a present interest in a property?
No – to take free and clear title, the buyer must also obtain a conveyance of the present estate.
“so long as…” is indicative that a conveyance is a…
fee simple determinable.
When a fee simple determinable holder breaches the stated condition, title…
reverts back to the grantor in fee simple absolute.
An adverse possession claim is barred if not brought within…
15 years.
After defaulting on a security interest and before a property is sold at foreclosure, the defaulting-owner may…
“redeem” the property by satisfying the security interest prior to closing.
To obtain title to real property by adverse possession in Virginia, the party seeking title that his possession was (1) actual and visable; (2) exclusive; (3) continuous; and (4) hostile to owners rights for a period of how many years?
15 years
Where members of a condo association have misused common areas of the property, in violation of assocation rules and to the detriment of other members, who has standing to sue?
Only the unit owners’ association has standing to sue for claims or actions related to the common elements.
Where all the requirements of adverse possession are met except that the possessor actually had the owner’s permission to possess & use the real property, the possessor is presumed to have….
A revocable license.
A license can become irrevocable if one relies upon permission and incurs expenses to use the land due to such reliance. In such cases, the license holder should argue that they acquired an…
easement over that portion of the land.
While a tenancy by the entirety is only available to spouses, if the instrument creating the estate demonstrates an intent to create a survivorship interest, then a purported tenancy by the entirety by unmarried partners will create a….
joint tenancy with the right of survivorship.
On its face, Virginia’s recording statute reads as a notice statute. However, the Virginia Supreme Court has concluded that Virginia’s recording act makes it a….
race-notice jurisdiction.
To be protected under a race-notice statute, the subsequent purchaser….
must take without notice of a prior grant and must record first.
At closing, the deed conveys….
legal title to the buyer.
title passes
Notice may be imputed to a buyer on the basis that….
a recording existed in public documents.
Under the doctrine of merger, provisions in a contract for sale are….
extinguished and merged into the deed at closing.
After closing, if a buyer has a claim against a seller, then the basis of the claim must be based on….
the covenants in the deed, if any, and not on the land sale contract.
Provisions which are collateral to the passage of title and not covered by the deed may….
survive the deed’s exection.
Agreements are considered collateral to the sale of property if they….
- Are distinct agreements made in connection with the sale;
- Do not affect title to the property;
- Not addressed in the deed; and
- Do not conflict with the deed.
These will survive the deed
To establish fraud, one must prove…
(1) A false representation of material fact;
(2) Made knowingly;
(3) With the intent to mislead or conceal;
(4) Relied upon by the Plaintiff to their detriment.
The reliance element of a fraud claim may not be justified when…
a potential buyer undertakes investigation regarding a matter at issue because the buyer will be charged with knowledge that was revealed or should have been revealed in diligent investigation.
A deed may validly convey real property by inter vivos gift so long as there is…
(1) donative intent;
(2) delivery;
(3) acceptance.
A deed must be:
(1) in writing;
(2) signed by the grantor;
(3) reasonably identifying the parties and the land.
A grantee becomes bound by the terms of a deed by….
his acceptance of a deed delivered by the grantor.
If conveyance of a property is presumed to be beneficial, acceptance of the grantee can be….
implied.