Shit I Don't Know

Question 1

Race Statute

Answer 1

First to properly record wins (no BFP requirement)

Question 2

Notice Statute

Answer 2

If Buyer-2 if a BFP, he wins (and loses in all other cases)

Question 3

Race-Notice Statute`

Answer 3

If Buyer-2 is a BFP and records first, he wins (and loses in all other cases)

Question 4

BFP

Answer 4

Purchases for fair value and without notice

Question 5

Notice Statute Language

Answer 5

No conveyance is valid against a subsequent bona fide purchaser who has no notice of the original conveyance, unless the conveyance is first recorded

Question 6

Race-Notice Statute Language

Answer 6

No conveyance is valid against a subsequent bona fide purchaser who has no notice of the original conveyance, and who has recorded the deed to his conveyance first

Question 7

What is the key word to look for in a recording statute to determine if it is a race or race-notice statute?

Answer 7

and

Question 8

When is a recording proper?

Answer 8

When it is also linked to the chain of title

Question 9

What are the three chain of title issues?

Answer 9

Wild Deed
Shelter Rule
Estoppel by Deed

Question 10

Wild Deed

Answer 10

Not properly recorded in chain of title, thus does not put subsequent parties on notice of ownersip

Question 11

When should you issue spot a wild deed?

Answer 11

When a buyer fails to record and then subsequently sales and the second buyer records - the second buyer will be linked to buyer-1’s chain of title which is improper because it not linked to original owner because buyer-1 failed to record

Question 12

Estoppel by Deed

Answer 12

A party who fraudulently sells land he does not own will be estopped from protection under a recording statute if he later validly acquires title to the land

Question 13

Shelter Rule

Answer 13

a non-BFP may be protected if they bought from a BFP

Question 14

When is the Shelter Rule usually triggered?

Answer 14

Gifts (not for value) or purchasers with knowledge (has notice)

Question 15

Remainder

Answer 15

A FI that becomes possessory upon the natural expiration of a prior estate that is created in the same conveyance in which the remainder is created

Question 16

Vested Remainder

Answer 16

not subject to any condition precedents; ascertainable grantee

Question 17

Duties of a Landlord

Answer 17

Deliver Possession
Repair (residential)
Warranty of Habitability (residential)
Covenant of Quiet Enjoyment 
Maintain Security Deposit

Question 18

What can be the effect of a landlord violating the covenant of quiet enjoyment?

Answer 18

Breach:

• Partial
• Actual
• Constructive

Question 19

Types of Deeds

Answer 19

General (covenants apply regardless of time)
Special (covenants apply during seller’s ownership)
Quitclaim (you get what I have, nothing more)

Question 20

General Warranty Covenants (present and future)

Answer 20

Present:
- Seisin
- Right to Convey
- Against Encumbrances
Future:
- Quiet Enjoyment
- Warranty
- Further Assurances

Question 21

Seisin

Answer 21

Grantor owns land as described in deed

Question 22

Right to Convey

Answer 22

Grantor has the right to transfer title

Question 23

Against Encumbrances

Answer 23

no undeclared encumbrances against the land

Question 24

Quiet Enjoyment

Answer 24

Grantee not disturbed in possession by a third party’s lawful claim

Question 25

Warranty

Answer 25

Grantor will defend against third party’s claim

Question 26

Further Assurances

Answer 26

Grantor will do whatever future acts reasonably necessary to pass title if later determined title is imperfect

Question 27

What is an Easement

Answer 27

a nonpossessory right to use and/or enter onto the real property of another without possessing it

Question 28

Types of Easements (6)

Answer 28

Express
Implied (implication & necessity)
Prescriptive
Estoppel
Negative

Question 29

Express Easement

Answer 29

affirmatively created by the parties in writing that satisfies SOF (by grant or by reservation)

Question 30

Easement by Necessity

Answer 30

(i) property is virtually useless without the benefit of an easement across an adjacent property, (ii) plots must have once been under common ownership, and (iii) necessity must have arose when plots severed.

Question 31

Easement by Implication

Answer 31

(i) property previously under common-ownership, (ii) quasi-easement arose when plots severed, and (iii) previous use of servient estate was reasonably necessary to the use of dominant estate

Question 32

Prescriptive Easement

Answer 32

AP minus exclusivity (20 CL statutory period)

Question 33

Easement by Estoppel

Answer 33

good faith reliance on permission from servient owner, used to prevent unjust enrichment