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Real Property (Titles (Adverse possession: (• Open and notorious, •…
Real Property
Titles
Titles in real property include adverse possession, transfer by deed, transfer by operation of law and by will, and recording acts.
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Special warranty deed: the grantor warrants that no title defects occurred during his ownership of the property, but does not warrant against title defects that occurred prior to his ownership.
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The shelter rule provides protection for a subsequent purchaser who does not satisfy the applicable recording statute. Under the shelter rule, a person who is a successor in interest to a person protected by the recording statute is also protected.
Rights in Real Property
Rights in real property includes easements, profits, and licenses as well as restrictive covenants, fixtures, and zoning.
An easement is an interest to use the land of another. Easements may be either affirmative or negative and may be either appurtenant or in gross.
Creation of an easement may be created through a writing, by implication, by prescription, or by estoppel.
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A license is a privilege, usually to do something on someone else’s property. A writing and consideration are not required. Licenses are not transferable unless the licensor intends them to be.
A covenant is a promise that attaches to land. The promise can be to do or to refrain from doing something on his land. A covenant that runs with the land is a promise that attaches to land.
A court may enforce a covenant as an equitable servitude if the plaintiff can establish all the elements for a covenant that runs with the land, but the plaintiff seeks equitable relief.
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Real Estate Contracts
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Statute of Frauds and require a writing signed by the party to be charged.
The writing must include:
• Description of the property
• Description of the parties
• Price
• Any conditions of price or payment agreed upon
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