Strategy Flashcards
Marketable title
Existence and conveyance of marketable title are implied in land sale contracts but once the deed takes effect, the terms of deed control.
If vendor contracts to sell prop and later conveys via quitclaim deed, there are no covenants associated with the deed. Under doctrine of merger, deed controls.
Nona Fide purchaser
BFP relevant primarily when examining protection under recording statues. Not relevant to original parties only subsequent purchasers.
zoning
In order for zoning ordinance to violate constitution it must be far outside the realm of standard restrictions, so constitutional violation is likely to be the wrong answer.
Focus of future interests study
Revers ions
Life estates, followed by remainders, including rights and duties of the two
Executory. Interests, possibility of reverted, and power of termination
Class gifts
RAP, especially in connection with above categories
Inter vivos conveyance v. Will
With inter vivos grant, grantor might gave child born after grant , grantor might die, then child might have grandchild. Child is not a measuring life, so grant to grandchild can violate RAP.
With will this can’t happen, so ok.
Mortgage
When there’s a mortgage on property that is possessed by a life estate holder, the life estate holder is responsible for interest payments and remainder men liable for the principal.
Possession
Can be legal or actual. In most states an implied duty for landlord to grant actual possession
Joint tenancy and liens
Judgment lien does not cause severance of joint tenancy with right to survivorship.
Deed poll
Deed signed only by grantor. When grantee accepts a deed poll with knowledge of its contents he is deemed to have agreed to all conditions in it.
Mortgage liability
Mere fact that purchaser makes payments in mortgage will not cause purchaser to become liable for further payments.
Gratuitous death escrow
Arrangement where grantor hands deed to a custodian for delivery on the grantors death. To be valid must be placed beyond grantors control by giving up all power to undue arrangement.
Equitable servitude
Binging on burden side only if someone had actual or constructive notice.
Title insurance
Protection usually extends so long as the insured shall have liability by reason of warranties in any transfer or conveyance of the title.
Variance
More likely to be granted when property is on edge of one zoning district and the proposed use would be allowed in the adjacent district
Doctrine of amortization
Provides that where a praticular use was valid under a prior zoning act, but is now invalid under a newly enacted act, the nonconforming use may continue but only for a period that will allow the owner to recover her investment.
