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10 - Chapter 3 continuedno marital law on test Conveying...

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Chapter 3 continued…no marital law on test. Conveying real property complex…. Real property is both 1. A physical asset and 2 a complex bundle of rights o Conveying real property involces both aspects The physical asset…land is a continous surface o Boundries not orbvious or natural o Boundary errors always impair/injure another The bundle of rights…rights to land are enduring…rights today depend on transations long ago (i.e. how has the bundle been maintained/divided over the years?) o I can only convey(transfer) what I’ve got. Exam question. Primary intrument of conveyance… Deed: primary instrument by which real property interests are conveyed o C.f. a contract for ale/purchase = a personal property right, not a real property right o Other instruments also convey real property rights: mortgage/deed of trust, lease, easement, cc&rs, etc. Statue of frauds: contracts concerning real property interests and instruments transferring real property interests must be in writing… Elements of a deed… Grantor (signature; “competence”; authority) o The grantor has to be competent, you cant be a minor, crazy, etc. has to have authority, think of corporations does this person have the power to deal with the deed.
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