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Property (Rights in Real Property (Restrictive Covenants (Covenant: A…
Property
Rights in Real Property
Easement
An interest to use the land of another. Easements may be either affirmative or negative and may be either appurtenant or in gross. Most easements are affirmative.
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Licenses
A privilege, usually to do something on someone else's property. A writing and consideration are not required. License are not transferable unless the licensor intends them to be.
Restrictive Covenants
Covenant: A covenant is a promise that attaches to land. The promise can be to do or to refrain from doing something on his land.
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Zoning
The state possesses the power to regulate for the health, safety, and welfare of its citizens.
Titles
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Adverse Possession
1) Open and Notorious
2) Continuous possession for the statutory period
3) Exclusive
4) Actual
5) Non-permissive (hostile)
Recording Acts : Recording becomes important when two or more parties claim that the owner has conveyed or mortgaged the property to them and their relative priority is at issue. Title based on adverse possession is not recordable until title has been quieted.
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Notice Statute: An unrecorded conveyance is invalid against a subsequent bona fide purchaser for value and without notice.
Race-notice statute: An unrecorded conveyance is invalid against a subsequent bona fide purchaser for value who takes without notice and records first.
Real Estate Contracts
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Marketable Title: A marketable titles is a title that is reasonably free form doubt in both fact and law.
Remedies: A sellers remedies for a buyer's breach include expectation damages, foreseeable consequential damages, reasonable reliance damages, retaining the down payment, or liquidated damages.
Statute of Frauds:The writing must include
1) Description of the property
2) Description of the parties
3) Price
4) Any conditions of price or payment agreed upon
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