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Property - Coggle Diagram
Property
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Rights in Real Property
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Zoning: The state possess the power to regulate for the health, safety, and welfare of its citizens.
Taking: Gov can exercise its eminent domain power to take private property. Gov may take entirety of land in fee simple, take an easement, or interest in the estate of the property.
Real Estate Contracts
Statute of Frauds apply and require a writing signed by the party to be charged. Must include: description of the property, description of the parties, price, and any conditions of price or payment agreed upon.
Include an implied promise to convey a marketable title to the purchaser at the time for performance.
Seller has a duty to disclose all material lent defects known that aren't readily observable or known to the buyer.
Titles
Adverse Possession requirements: Open & notorious, continuous possession for the statutory period, exclusive, actual, and non-permissive(hostile)
3 types of Deeds
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Special Warranty Deed: grantor warrants that no title defects occurred during their ownership of the property alone.
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Conveyance of real property by deed requires donative intent, delivery, and acceptance.
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