Adverse + Marketable Title + SOF

Question 1

Adverse Possession Majority Rule

Answer 1

Title obtained by adverse possession may be marketable. Seller must
o Bring quiet title suit
o Bring enough evidence to convince buyer/court that title is good

Question 2

Adverse Possession Minority Rule

Answer 2

Title obtained by adverse possession is unmarketable, unless quiet title action in court.

Question 3

Short term statutes. Possessor must have

Answer 3

o Have color of title (appearance of title where this is none)
o Have paid taxes on the property during the statutoryy period
o Requires privity to tack

Question 4

Disability Approaches

Answer 4

i. Approach 1: gives five years after the disability is removed
ii. Approach 2: Tolling provision - SOL stops running against you until you’re no longer disable
iii. GR for both: disability to already exist before adverse possession begins. If multiple  benefit of all.
iv. Can’t tack disabilities between owners

Question 5

SOF: DIPS

Answer 5

a. Describe real estate and interest conveyed
b. Identify parties
c. Price
d. Signed by the party against whom enforcement is sought
i. 2 EXCEPTIONS
1. Estoppel
2. Part performance (significant)

Question 6

SOF: Dips - Part Performance Info

Answer 6

a. Only applies when specific performance is sought, not damages.
b. Split on approaches to part performance:
i. If act has been performed pursuant to the oral contract. Buyer must do some or all of these:
1. Take possession of property
2. Pay all or part of the purchase price (not sufficient by itself) OR
3. Make improvements to the property
ii. If plaintiff shows that he would suffer irreparable injury if the contract were not enforced (then taking possession alone is sufficient) especially if buyer made unique improvements.

Question 7

When is Marketable Title Delivered

Answer 7

Unless otherwise agreed, selling not required to deliver marketable title until closing

Question 8

Who can force closing

Answer 8

Buyer can force seller to close, but seller cannot force buyer to buy

Question 9

Implied Condition

Answer 9

Implied Condition = Marketable Title. Seller must convey to the buyer a marketable title, otherwise the buyer is entitled to rescind the contract.

Question 10

A title is unmarketable if:

Answer 10

i. there is a reasonable probability the seller does not own the title alleged
ii. subject to an undisclosed encumbrance, or
iii. the buyer bears an unreasonable risk

Question 11

Implied provision/condition

Answer 11

1 can rescind if not met
2 unless defects accepted by the buyer in contract

Question 13

Ordinance is

Answer 13

a restriction, but restriction does not render unmarketable unless in violation that exposes B to litigation

Question 14

Marketable Title: Minority

Answer 14

Title obtained by adverse possession is unmarketable UNLESS seller brings quiet title action.

Question 15

Marketable Title: Majority

Answer 15

title obtained by AP may be marketable
i. Quiet title suit
ii. Bring enough evidence to convince buyer/court that title is good
1. Never marketable if K calls for record title unless filed quiet title action.

Question 16

Marketable if

Answer 16

i. Seller has fee
ii. Title free from encumbrances
iii. Buyer entitled to possession

Question 17

If buyer can see the problem at the point of K

Answer 17

Majority - still unmarketable
Minority - if problem open and notorious, the title is marketable

Question 18

Remedies

Answer 18

If seller breaches buy can:
1. rescind contract + damages
2. compel seller to convey + abatement in price to reflect defects