V. Conveyance

Question 1

What are the key topics under “conveyance”?

Answer 1

Adverse Possession
Sale of Land Contract (and implied warranties)
Equitable Conversion
Closing and Deeds (+void & voidable)
Types of Deeds (and warranties)
Recording
Bona Fide Purchasers
Shelter Rule

Question 2

What are the elements of adverse possession?

Answer 2

To ripen into title (occurs automatically):
1. Must actually enter and use
2. Exclusive - cannot share (except as would be natural)
3. Continuous (permits tacking non-hostile nexus)
4. Open and notorious (obvious enough to put them on notice)
5. Adverse/hostile (no permission)
6. For requisite statutory period - won’t run if incapacitated/imprisoned when action for ejectment commenced

Adverse possession cannot be defeated by subsequent conveyance - after statutory period has run - even if vacant.

Question 3

What are the implied warranties for a sale of land?

Answer 3

1. Warranty of marketable title (no adverse possession, encumbrance, zoning violation)
2. Warranty against latent MATERIAL defects
3. No false statements of material fact (i.e., fraud)
4. Usually “caveat emptor” but implied warranty of fitness and workmanlike construction (sale by vendor who built home)

Question 4

What is the doctrine of equitable conversion?

Answer 4

Seller and buyer switch places, with seller holding personal property interest to purchase price and buyer holding real property interest, as well as bearing the risk of damage/destruction (their respective heirs are only entitled to such interests)

Question 5

Formalities of a land contract

Answer 5

Statute of frauds applies, must be in writing, however, there’s an exception + identify parties and land + price/consideration + signed by party to be bound.

Exception to writing, if oral and 2 of 3 things: (1) possession, (2) full/partial payment and (3) substantial improvements.