Property - Nonpossessory and Conveyancing

Question 1

BFP

Answer 1

Purchaser or mortgage lender pays valuable consideration takes without notice of prior instrument at time of conveyance

Question 2

Race

Answer 2

1st to Record Wins

“First”

Question 3

Notice

Answer 3

Subsequent BFP even without recording wins over prior grantee/mortgagee who has not yet recorded

“Notice”

Question 4

Race Notice

Answer 4

Subsequent BFP to record wins

“Notice” + “First”

Question 5

When is easement in gross transferable/not transferable?

Answer 5

Transferable: serves economic interest
Nontransferable: personal enjoyment

Question 6

Easement by implication

Answer 6

Division of a single tract
Where open and continuous use of servient part exists prior to division
Which is reasonably necessary to enjoy dominant part
And parties intend to continue use after division

Question 7

Easement by necessity

Answer 7

Division of a portion of land (e.g. by selling)
Absolute necessity of access created by division

Owner of servient portion may choose location of easement

Question 8

Real covenant: For burden to run with the land

Answer 8

Requires
WITHN

Writing
Intent
Touch & Concern
Horizontal & Vertical
Notice

Question 9

Horizontal Privity

Answer 9

Relationship between original covenanting parties who shared interest in land (e.g. grantor-grantee)

Question 10

Real covenant: For benefit to run with the land

Answer 10

Requires
WITV

Writing
Intent
Touch & Concern
Vertical

Question 11

General warranty deed

Answer 11

Seller warrants that no title defects were created by himself and all prior titleholders.
Includes 6 covenants of title.

Question 12

Present covenant - when breached/who can enforce

Answer 12

Do not run with land. Breached at conveyance. Only immediate grantee can enforce.

Question 13

Present covenant - 3 types

Answer 13

Covenant of seisin: promise that he owns title and possesses estate conveyed
Covenant of right to convey: grantor had right as valid owner
Covenant against encumbrances: no easements, covenants, unpaid mortgages or liens

Question 14

Future covenant - 3 types

Answer 14

Covenant for quiet enjoyment: promise that grantee won’t be disturbed by lawful claims of title
Covenant of warranty: promise to defend vs. reasonable claims of title & compensate for any losses from superior claims
Covenant for further assurances: promise to take reasonable steps to perfect defects of title