Titles Flashcards
What are some issues relating to deeds and chain of title?
Wild Deeds
Estoppel by Deed
Adverse Possession: not protected.
Does a deed need to be recorded to be valid?
No
What are the different types of recording acts
Race - “first”
Notice - “without notice”
Race Notice - “first” and “without notice”
Note: Notice can be actual, constructive or inquiry.
Note: shelter rule
- Grantors who are protected by the recording act protect (or “shelter”) their grantees who would otherwise be unprotected. The exception to the shelter rule is that a purchaser who has notice of a prior property interest cannot sell his property interest to a person without such notice and then buy back the property to gain the protection of the shelter rule.
Must a grantee pay value to be protected under a recording act?
Yes.
Note: mortgagees are considered to have paid value, unless not given simultaneously with loan.
Note:grantees who acquire bu gift not protected.
Note: creditors protected only after judgement recorded.
What are the elements of adverse possesion?
Continuous
- Seasonal ok if consistent with property.
- Tacking allowed if privity
- Disability/infancy/prison = tolls
Actual, Open, Notorious
Hostile
- Majority: Intent irrelevant
- Minority 1: Good faith
- Minority 2: Bad Faith
Exclusive
- Cannot share with OWNER
When is there a constructive adverse possession?
Enters under color of title and actually posses a portion of property. This creates an adverse possession of title as a whole.
When can an easement be terminated?
Release
Merger
- When A purchase property B, to which easement was.
Severance
Abandonment
- Act in affirmative way (not just words)
- Statements alone insufficient
End of necessity
Condemnation
Destruction
Who has a duty to maintain an easement?
Owner of easement
- Contribution is ok
- Serviant estate has obligation if uses
What is a profit relating to easements?
Allowed to come on land for minerals
What is the difference of a license from an easement?
Revocable unless detrimental reliance.
What are the four classifications of easements?
Easement appurtenant
- Tied to land - assumed
Easement in gross
- Tied to a person
Affirmative
- Right to do something
Negative
- Restrictive
- Light/Air/Water
- In writing signed by grantor
What is a common-Interest ownership community?
HOAs, Condominiums, etc.
Declaration, governing documents.
Governed by a board.
What is an equitable servitude’s requirements? What are its defenses? What is an implied reciprocal servitude?
Enforced by equity or injunction.
Requirements
-Writing, intent, touch and concern, notice (if against purchaser)
Implied
- Intent, negative, notice
Defenses
- Changed circumstances
- Laches
- Unclean hands
- Acquiescence
- Estoppel
What two things are required for a deed?
- Intent to Transfer
- Rebutable presumption deed is operative when recorded
- Delivery completed by physical delivery or mail to grantee or grantor’s agent
- Physical transfer not required.
Third Parties:
- grantor’s agent = no intent to deliver.
- grantee’s agent = intent to deliver.
If grantor retains an absolute right to retain, no right to deliver.
- Acceptance
What necessary terms must be in a deed for the deed to be valid?
Parties
- Grantor and grantee ID’s BY NAME
Words of Transfer
Description of Property
Grantor’s Signature
Note: Agent may execute deed on grantor’s behalf.
- Equal Dignities Rule: When agent signs something applicable to SoF, agent’s authority must also be in writing. Exception for corporations.
- Must sign grantor’s name. Not agent’s name.
What is a conversion?
Equitable title passes to buyer during pendency of sale contract (although seller has legal title)
Does not apply if specifically enforceable.
When action against seller for claim before execution of contract, judgement obtained after contract is not enforceable against property, only good against sale proceeds
Risk of loss on buyer.
What are the different types of deeds?
General Warranty Deed
- 3 Present and 3 Future Warranties
Present (breach occurs at conveyance)
1. Covenant of sessin - land is as described
2. Covenant of right to convey
3. Covenant against encumbrances
Future (must notify)
1. Covenant of quiet enjoyment - no interference by 3rd party.
2. Covenant of warranty - defend against 3rd party.
3. Covenant for further assurances - grantor will protect title.
Special Warranty Deed - same as general but only warrants for defects while grantor has title.
Quitclaim deed - no protection
What are the different types of restraints on alienation?
Disabling Restraint - prohibition of transfer = void
Forfeiture restraint - loss of property if transferred = void if on a future interest or LE
Promissory Restraint - promise not to transfer = enforceable. Valid on LE.
Note: permissible: restraints on use (covenants) are allowed if limited in the time and purpose.
What is an ademption?
When a devisee in a real property fails because the testator no longer owns the property at death.
The Transfer will got to intended beneficiary, not who is in will.
Example A gives Blackacre to B via will. A sells Blackacre to C A dies C keeps property B gets nothing.
What is a lapse and anti-lapse statute’s affect?
When the beneficiary under a will dies before testator, and no alternative beneficiary is named.
All jurisdictions have an anti-lapse statute. Leaves gifts to parties specified in statutes.
What is a conveyance by trust?
Property managed by one person for the benefit of another.
Private trusts
- Intent
- Valid purpose
- Res (property)
- Beneficiaries
Charitable Trusts
- No RAP
- AG can enforce
- unidentifiable and numerous
- Cy Pres
