Transfer of Title by Will or Law

Question 1

Ademption

Answer 1

if there is a will, and you were left lan, but the land was sold to a third party before testator dies, ademption means you dont get it

Question 2

Lapse

Answer 2

beneficiary dies before he gets property left in will, property goes into residuary estate

Question 3

exoneration of liens

Answer 3

beneficiary gets land with liens–> generally, estate pays encumbnerances so you get ptoperty free and cleat

Question 4

Adverse Possession

Answer 4

1) contuinuous for statutory period
2) actual- possession of land as the owner would
3) open- would put owner on notice
4) notoriaous
5) hostile- withjout owner’s consent

Question 5

is tacking okay?

Answer 5

adverse possession in privity
(if intentional, msot courts will aggregate years)
privity = transfer

Question 6

Drafting and Executing Documents

Answer 6

nonatty? yes
real estate broker? can use form docs
mortgage broker can prepare mortgage docs
-they can fioll in the blanks, but cnanot give legal advicej

Question 7

Equal Dignities Rule

Answer 7

if a contract requires a signature from the person in charge, then their agent can only sign it if they have written permission to do so
-seller must sign papers to let broker (agent) sign on his behalf
-signing agent-no additional writing necessary
-if there was no writing grantor cant use as a defense if he did something to make you think he did.

Question 8

Race statute

Answer 8

Whomever records first, notice irrelevant
Who wins? First recorded

Question 9

Race notice statute

Answer 9

Subsequent bfp only if recorded first
Who wins? 1st bfp who recorded

Question 10

Notice statute

Answer 10

Subsequent purchaser for value with no notice
Who wins? Subsequent bfp prevails over a prior grantee that failed to record

Question 11

Hypo that will be a recording statute issue

Answer 11

When a single grantor sells to b on mon, c on Tues, gifts to d on wed….
Gifts, grants multiple people

Question 12

Bfp

Answer 12

Subsequent purchaser for value with notice

Question 13

Who can be a bfp?
Someone gifted property?
Creditor?
Mortgagee?
Will?
Adverse possession?

Answer 13

Must pay value, no notice
No
No
Yes
No
No

Question 14

Effect of recording

Answer 14

Gives Notice to all subsequent purchasers

Question 15

Shelter rule

Answer 15

A person who purchases land from a BFP receives same status and rights as BFP

Ex: a to b, b does not record
A to c? C records (in race or race notice, c wins)
C to d by gift d prevails because c would have and d is sheltersd

Question 16

Wild deed

Answer 16

Out of chain of title (the deed is not recorded properly and thus not discoverable in the chain of title
Ex- o to a (does not record)
A to b (wild deed)
O to c
C wins

Question 17

Effect of a wild deed

Answer 17

Does not put subsequent purchasers on constructive notice of a land transfer

Question 18

Estoppel by deed (after acquired title)

Answer 18

O to a, but o has no legal title
Subsequently o acquires title
-title automatically goes to whoever o conveyed and subsequent grantees automatically