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Property - Coggle Diagram
Property
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Rights in Real Property
Easement
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Negative Easement: Gives the holder the right to prevent a landowner from doing something on the land.
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Terminated by:
End of a time period, if easement is created for a specific term.
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A license is privilege, usually to do something on someone else's property. A writing and consideration is not required.
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Real Estate Contracts
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The seller has a duty to disclose all material latent defects known to the seller that are not readily observable or known to the buyer.
A seller's remedies for a buyer's breach to purchase property includes: Expectation damages; foreseeable consequential damages; reasonable reliance damages; retaining the down payment; or liquidated damages.
Titles
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Deeds
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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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Recording statutes
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Notice statute: an unrecorded conveyance is invalid against a subsequent bonafide 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.
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