Real Property

Question 1

Life Estate

Answer 1

Conveyance of real property where a specified life-tenant is entitled to possession of the property during their lifetime, and upon the life-tenant’s death the property transfers outright to another property

Question 2

Life-Tenant Responsibilities

Answer 2

Ordinary expenses ad taxes relating to the property during their lifetime, and cannot commit waste

Question 3

Mutual Mistake

Answer 3

A court may give relief where there has been an innocent omission or insertion of a material stipulation, contrary to the intention of both parties

Question 4

Merger doctrine

Answer 4

A previous contract is extinguished by an instrument of higher dignity - the deed.

Applies only to the subject matter specifically covered by the deed.

A closing statement does not extinguish a purchase contract

Question 5

For a deed to be valid:

Answer 5

1. Meet certain formalities
2. Be delivered by the grantor
3. Be accepted by the grantee

Question 6

Does failure to record a deed invalidate it?

Answer 6

No. Once delivery occurs, title passes to the grantee.

Question 7

Is a zoning ordinance an encumbrance?

Answer 7

No, it is not an encumbrance, lien or tenancy on the land.

Question 8

English Covenants of title

Answer 8

That the deed is conveyed in fee simple, without any encumbrances, tenancies, or liens on the property and the grantor would indemnify and save grantees harmless against any and every charge or encumbrance.

Question 9

Encumbrance definition

Answer 9

Includes the existence of physical intrusions or encroachments or superior title or interest in the land held by another party.