Sale of Land, Titles, Transfers, and Mortgages Flashcards
(18 cards)
1
Q
Sale of Land: Dual Agency
A
- An Agent can serve both parties in VA so long as they are a realtor
2
Q
Sale of Land: SOF and Partial Performance
A
- Under Common law, SOF is satisfied by Payment Possession or improvements to the land
- Under VA law, SOF is satisfied by partial performance if (1) the oral contract was definite and certain in its terms (2) the parties acted pursuant to the agreement (3) agreement was so far executed that refusal of execution would operate as a fraud upon the party seeking performance
3
Q
Sale of Land: Recession or Modification of an Oral Contract
A
- Not allowed in VA
4
Q
Sale of Land: Implied Warranty of Fitness
A
- applies to newly constructed buildings for 1 year after the transfer of title to the buyer or 5 years if regarding the structure of the building if not a condo, or for 2 years with a 5 year SOL for a condo.
- for residential structures other than condos the warranty implies that it is (1) free from structural defects and (2) fit for habitation
- You can waive these warranties if done conspicuously
- If Seller breaches, buyer can sue but must give the seller up to 6 months to fix . Buyer then has 2 years to bring suit,
5
Q
Sale of Land: Duty to Disclose
A
- VA does not require that the seller disclose physical defects but rather that they give a written statement of “caveat emptor” (i.e. let the buyer beware)
6
Q
Sale of Land: Doctrine of Merger
A
- In VA, doctrine merges the contract into the deed in relation to obligations regarding title or that are addressed in the deed
7
Q
Sale of Land: Risk of Loss
A
- Follows common law, Buyer has risk in between contract and deed
8
Q
Titles: Adverse Possession
A
- in VA is 15 years
- the time tolls if the legal title holder is disabled (infancy, incarceration, insanity). But it only lasts 25 years.
- You cannot adversely possess a co-tenant unless you give them notice to oust
- You presumptively get mineral and land rights by adversely possessing the land. But if the rights have been severed, you must adversely possess the minerals for 15 years to get them.
9
Q
Deeds: Fraudulent Conveyance
A
- if the grantor acts with fraudulent intent the deed is void, unless the grantee has no knowledge of the intent and paid consideration
10
Q
Deeds: Virginia Notice Laws
A
- Technically, VA is a notice state, but the statute is read as a race notice
11
Q
Deeds: Estoppel by Deed
A
- Grantor who gives a warranty deed before actually owning land cannot later claim, after getting legal title, that the land was not the grantees because they could not have conveyed it, and thus they deserve it
- VA has this law, but only for the grantor and grantee
12
Q
Deeds: Types of Warranties
A
- General
- Special
- Quitclaim
-VA recognizes all three
13
Q
Transfers: Uniform Property Transfer on Death Act
A
- Allows a grantor to write a deed while alive, record it, and then have it become valid when they die
14
Q
Use of Land: Disputes of the use of land
A
- Dispute over the title to land is resolved through ejectment
- Dispute over possession is resolved through an action for unlawful entry or detainer
15
Q
Use of Land: Easements
A
- Easement by prescription: VA has a 20 year period
- easements are terminated if their purpose no longer exists
16
Q
Use of Land: Covenants
A
- a covenant not to compete does not run with the land, but can be enforced by injunction
17
Q
Use of Land: Zoning
A
- Single Family home defined broadly in VA. can include group homes with up to 8 people
18
Q
Use of Land: Water Rights and Support Rights
A
- VA has an unrestricted right to get rid of unwanted surface water but cannot needlessly or negligently cause harm to the property of another ( a modification of the Common Enemy Doctrine)
- Support rights (i.e. Damage to the support of buildings) requires a showing of damage to the P’s property - in VA, weakening is not enough.
