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REAL PROPERTY LAW, p220 - Coggle Diagram
REAL PROPERTY LAW
TITLES
- adverse possession - OCEAN*
- transfer by deed:
- general warranty deed
- special warranty deed
- quitclaim deed
- transfer by operation of law and by will
- recording acts:
-
Present covenants:
- covenants of seisin - grantor owns and possesses the estate granted
- covenant of right to convey - grantor has the right to convey the property
- covenant against encumbrances - grantor promises that there are no encumbrances:
- mortgage and judgment liens
- taxes
- leases
- water rights
- easements
- restrictions on use
Future covenants:
- covenants of quiet enjoyment
- covenants of warranty
- covenants of further assurances
-
RIGHTS IN REAL PROPERTY:
- easement
- profits
- licenses
- restrictive covenants
- fixtures
- zoning
REAL ESTATE CONTRACTS:
- real estate brokerage
- creation
- construction of contracts - SOFs*
- marketable title
- duty to disclose defects
- implied warranty of quality
- remedies for breach of a contract
SOF*:
- description of the property
- description of the parties
- price
- any conditions of price or payment agreed upon
MORTGAGES/SECURITY DEVICES:
- mortgages
- deeds of trust
- installment land contracts
Three mortgage theories:
- Title theory
- Lien theory
- Intermediate theory
Default - mortgagee may:
- foreclose on the real property
- sue grantee on the debt
- sue mortgagor/grantor on the debt
- mortgagor/grantor could then seek reimbursement from the grantee personally
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