Deck 42: Appendix

Question 1

When is title to real estate transferred?

Answer 1

Many reasons contribute to transferring the real estate title, one of which is sales. The title got transferred to real estate when a deed is delivered by a seller to the buyer.
The provision of lease or deed is a major factor that determines the level of interest transferred.

Question 2

Denaro owned property appraised at $750,000, which secured of approximately $500,000. After Denaro filed for bankruptcy, the bank foreclosed. At a sheriff's sale with multiple parties bidding, the bank purchased the property for a bid of $401,00. Denaro filed a motion in court arguing that based on the appraisal report showing a fair market value of $750,000, the bank was satisfied in full. Discuss the rights of the parties depending on whether the state has a law regarding the sufficiency of the sale price at a foreclosure.

Answer 2

Following are the rights of the parties for the law regarding the sufficiency of the sale price at a foreclosure:
• The right to buy back the home from the individual who accepted it at foreclosure. This right is given next to the trade of the foreclosure.
• One can still get the house back if the same is traded through judicial foreclosure.
• This right is totally legal which means that there must be a definite law providing the rights.
• The right of foreclosure makes it difficult to sale a house as it cannot be sold to another before the period of redemption expires.

Question 3

What is a mechani's lien?

Answer 3

Individual or organization who supplied materials for the creation of house or improvement of that house as well as put their efforts on the construction get a claim on that constructed house under. This claim over the constructed house is acknowledged as a mechanics lien. This lien's essence depends on the real property, for which material had been supplied and labour had been putted in to action for construction or improvement. This lien is also known as supplier's lien or materialman's lien. A mechanics lien has preference over mortgages that are unrecorded.

Question 4

If the tenant refuses to give up possession after the expiration of a lease, What may the landlord do?

Question 5

What is probate?

Question 6

The Fulton County Sheriff conducted a tax sale of certain real property and conveyed the property to a third party. A tax deed subsequently was issued to that party documenting the sale. After the taxes and costs of sale were paid, the excess was deposited with the sheriff's department. Two years after the sale, the delinquent taxpayer executed a quitclaim deed to Georgia Lien Services. The quitclaim deed stated: "The purpose of this quitclaim deed is to give the grantee all the rights, entitlements, and obligations that grantor may have in the property." Georgia Lien Services applied for the excess funds from the sheriff's department. The sheriff refused. Is Georgia Lien entitled to the money by virtue of the quitclaim deed?

Question 7

How is a mortgage different from a debt?

Question 8

What government programs are available to assist people in obtaining a mortgage?

Question 9

What must a tenant remove from the property at the end of a lease?

Question 10

Frank Billotti owned two pieces of real estate as a joint tenant with right of survivorship with his wife, Carolyn. Frank murdered Carolyn and their daughters and was convicted of the murders. Frank conveyed the properties to his mother, Rose Billotti. State law provided that no one convicted of killing another could acquire any property from the person killed "by descent and distribution, or by will,... or otherwise." Carolyn's parents sued for the joint tenancy property. Did the words "or otherwise" in the statute include taking property under joint tenancy with right of survivorship? [Lakatos v. Estate of Billotti, 509 S.E.2d 594 (W.Va.)]

Question 11

What is the inherent risk in accepting a quitclaim deed for property?

Question 12

Allan and Deborah Cormier found themselves underwater on a mortgage. Fair market value of the property was estimated at $75,000 but a mortgage of $94,000 was owed to American Home Mortgage Service (American). The Cormiers asked the court to force American to acknowledge the Cormiers' surrender of the property and allow "them to deduct from their … payment, on account of administrative expenses, the actual amounts they [were] incurring to insure and preserve that property." The Cormiers wanted American to take over the expenses of the property so they could devote that money to other expenses. Once the Cormiers decided to abandon the property, was American responsible to pick up the tab immediately?

Question 13

Restorations Inc. and Cantarella Realty entered into five-year lease for commercial property owned by Cantarella. The lease included a flat monthly rental for the first three years, with increases in the fourth and fifth years. It also granted Restorations an option to extend the lease up to five years on written notice two months prior to the expiration of the original term. Restorations occupied the property six and one-half years, paying the original rental price each month without the scheduled increases or formally extending the lease. At the beginning of the sixth year, Cantarella made a demand for the rent differential for lease years four and five and for market rental value during Restorations' holdover period. Restorations admitted that it had become a tenant at sufferance on the expiration of the original lease, but claimed that the payment and Cantarella s acceptance of continued rent payments created a tenancy at will for the original monthly rental price. Cantarella claimed that neither party was aware of the rent increases, and that both sides had mistakenly believed that they were proceeding in accordance with the lease terms. Does this mistake prevent Cantarella from collecting the increased rent?

Question 14

Louisiana law required that a will be signed on each page as well as at the end of the will. Arthur Simonson signed each page except page 6. Simonson's will followed all other formalities and there was no evidence of fraud. When the two beneficiaries filed the will for probate, the district court found the will invalid since it was not signed on page 6. Should the entire will be invalid? Should page 6 be left out, but the rest of the will be probated?

Question 15

William Melton executed a formal will consisting of two forms which Melton and three witnesses signed. Some years later, he handwrote a letter to a close friend, which read:
"I am on the way home horn Mom's funeral. Mom died from an auto accident so 1 thought I had better leave something in writing so that you Alberta Kelleher will receive my entire estate. I do not want my brother Larry J Melton or Vicki Palm or any of my other relatives to have one penny of my estate." [his italics]
The letter was dated and signed by Melton, but Kelleher predeceased Melton. Assume the jurisdiction recognized holographic wills. Is this letter a valid wilt, or codicil? What would you argue on behalf of William's only child, Vicki Palm?

Question 16

Harvey Foster executed a deed for his home to his daughter, Dean Burbage, as trustee Foster later was hospitalized and lived in an assisted living facility for a year. During this time, Burbage handled his finances. When he recovered, Foster asked a court to void the deed, saying he had signed it without reading it because he trusted his daughter. Foster had never executed any written trust declaration. He alleged that the deed was void because it named a grantee who did not exist. Is the deed valid?

Question 17

What formalities are necessary for a mortgage?

Question 18

What formalities are required to create a lease?

Question 19

Having learned that real property is conveyed by deed and that property that is owned by two people as joint tenants with right of survivorship passes automatically to the survivor at the death of one owner, consider the following scenario:
After her husband dies, Rose Markovitz lives with her daughter, Sandy Olsen, and her family in Markovitz's house, and Olsen pays the real estate taxes for Markovitz. In order to permit Olsen to deduct the real estate taxes on her income tax return, Markovitz executes a quitclaim deed to the house to herself and Olsen as joint tenant? with right of survivorship. Markovitz tells her five other children that she is quitclaiming the house to Olsen as joint tenant only to enable Olsen to deduct the taxes that she pays for Markovitz. After Markovitz dies, Olsen claims that the house belongs to her alone by right of survivorship. Discuss the ethical considerations involved in this situation.

Question 20

What if no beneficiary survives to inherit an estate?

Question 21

What is the difference between a general warranty deed and a special warranty deed?

Question 22

Arthur and Bobbie Ten Hove faced bankruptcy and foreclosure on their home. Christopher Johns, a real estate agent, would arrange for Allen Banks, a house "flipper," to purchase homes on the brink of foreclosure at an inflated price. The homeowners would execute a second mortgage in favor of Banks amounting to the difference between the purchase price and the amount owed. Immediately after the sale the seller would repay the second mortgage given to Banks. Banks used this money to rehabilitate the house and then sell it for its then (much higher) market value. The sellers would lose any equity that had been built up in the home but would avoid the black mark of foreclosure on their credit records. The Ten Hoves had already begun the bankruptcy process therefore any sate of their home needed to be approved by the bankruptcy trustee. The trustee smelled something fishy in the proposed transaction and, after investigation, Banks and Johns were charged with and convicted of criminal fraud. Johns argued that the second mortgage by which Banks received the excess purchase funds was a valid document, duly recorded and binding on the sellers. Was Johns correct?

Question 23

Katharine Gasparich moved her family from California to New York to be closer to the children's grandfather. The grandfather offered the family an apartment free of rent in a building owned by 247 East 32nd LLC, which was principally owned by the grandfather. Apparently, the grandfather failed to communicate this offer to the company, because 247 East 32nd brought an eviction action against Gasparich and her family. Could Gasparich enforce the oral agreement with the grandfather?

Question 24

What capacity must people have in order to make valid wills?

Question 25

When she was 100 years old, Biddie L. Ware executed a will leaving her estate to her daughter, Almira Jane Howell. Howell had given the information about the will to a lawyer, who drafted it. Howell drove Ware to a parking lot. A legal assistant gave Ware the will and described what it provided. The two witnesses, Rhonda Lawson and Sandra Harman, saw Ware sign it. Harman signed in Ware's presence. However, Lawson signed the will in the office. Ware never left the car. The will stated that the witnesses signed the will in the presence of the testatrix. After Ware's death, Howell filed the will for probate, and relatives who were disinherited alleged that Ware had not validly executed the will. Had she? [Ware v. Howell, 614 S.E.2d 464 (W.Va.)]

Question 26

Goodell was injured while doing carpentry work for Cathell Custom Homes Resetti was he developer of the property. For the purpose of securing financing for construction costs, Cathell would execute a deed for a particular lot to Rosetti, which would be held in escrow until the actual sale of the property to the buyer. Goodell sued Rosetti as record owner of the property. Rosetti claimed that as there was no intention actually to transfer ownership of the land, he did not own the property. Was the deed effective to transfer title to Rosetti?

Question 27

Explain the purpose for which a mortgagor may execute a mortgage.

Question 28

What is the difference between a tenant and a lodger or roomer?

Question 29

Prior to their marriage, Robert and Eve Schneberger executed a prenuptial agreement granting Eve a life estate in Robert's home should he predecease her. Eve could occupy the home but not rent it out. Robert died still married to Eve. Subsequently, the home was damaged by a hurricane, and a dispute arose over responsibility to pay for the damages between Eve and her stepson, who was both the remainder beneficiary and trustee of Robert's trust. Eve argued that she did not have a true life estate because she could not deal with the property as her own by, for instance, renting it for income to pay the costs, and thus she should not have the obligations of a normal life tenant. Who was responsible for the hurricane damage? [Schneberger v. Schneberger, 979 So.2d 981 (Fla.Dist. Ct. App.)]

Question 30

Ruth Dineen died intestate leaving her son. James Dineen, and daughter, Marie Dineen, as heirs. The heirs' relationship had been contentious, and a lawyer. Richard LeBlanc, was appointed personal representative of Ruth's estate. James owed the estate for loans secured by two mortgages. He alleged that the mortgages should be satisfied from the assets of the estate and that interest should stop accruing on them. LeBlanc was concerned about James's propensity to litigate and thought the estate should keep enough liquid assets to cover any litigation costs. The probate court issued an order finding that LeBlanc had acted reasonably in allowing interest to accrue on the mortgages and not satisfying them with estate funds until final settlement of the estate. James appealed. Had LeBlanc acted properly?

Question 31

What are six necessary elements in a deed?

Question 32

Angela Lutz mortgaged real property to Alligriff Mortgage Corporation Inc. Alligiff assigned the mortgage to Huntington Mortgage Company. The mortgage and assignment were recorded. Lutz died, and John Wead was appointed administrator of her estate. GMAC believed it had acquired the mortgage was in default. The court dismissed GHACs action because GMAC did not prove it had received an assignment from Huntington. Wead asked the probate court for permission to sell the real estate. Huntington then assigned the mortgage to GMAC, and GMAC recorded the assignment. Wead alleged that GMAC's mortgage was invalid because recording of the assignment was untimely. Was GMAC's mortgage valid?

Question 33

Brennan Associates owned a shopping center, and leased a unit to Physicians for Women's Health, LIC. The terms of the lease permitted an assignment to a new lesser with the lessor's permission. After an initial five-year lease term, the parties renewed for another five years. After only two more years, Physicians vacated and moved to another location, and attempted to find a replacement tenant. Brennan wanted Physicians to find another medical services tenant. For the first two years, Physicians continued to pay the rent. Finally Physicians found a tanning salon as a prosper live tenant. Brennan entered into negotiations with the tanning salon, which offered slightly different terms from the lease with Physicians but was never able to came to an agreement. Physicians stopped paying rent, and Brennan sued. Was Brennan required to come to terms with the tanning salon in order to mitigate its damages?

Question 34

Anderson lived to the age of 98 in her own home with the assistance and support of her grandsons who lived with her. At her death, the grandsons offered a will for probate, naming them personal representatives and sole beneficiaries of the estate. Anderson's daughter disputed the will on the grounds of undue influence. The grandsons had not only assisted Anderson in daily living, such as buying groceries and paying bills, but also had held Anderson's power of attorney, made appointments for her with her attorney, and taken her to the attorney's office. Testimony from a state worker who made surprise visits to the home declared Anderson to be well cared for and "very alert to be a ninety eight year old woman." Anderson's life-long friend, Mary, testified that Anderson told her she did not want her son-in-law "to got his hands on any of her property." In addition, the power of attorney was never used, and no substantive changes were made to Anderson's will. Should it be admitted to probate?

Question 35

What is the difference between distributing property per capita and per stirpes ?
b. When would a per stirpes distribution be required?

Question 36

HCM Restaurant Inc. quitclaimed lot 434-2 to Bluff Head Corp. and reserved a parking easement for patrons of its marina. At the time, Bluff Head planned to buy lot 434-1, which HCM did not own. The reserved easement stated that Bluff Head would determine the precise location of the easement but that it would "be located on the premises conveyed herein [Lot 434-2] or Lot 434-1." Bluff Head never bought lot 434-1. Sakonnet Point Marina Association Inc. (Sakonnet) acquired the marina from HCM and sued to enforce the easement. Bluff Head alleged that it had the right to select the location of the easement on either lot 434-2 or 434-1, and it selected lot 434-1. The owner of lot 434-1 aought an order that the quitclaim deed could not have created an easement over lot 434-1 because HCM had not owned it. Does Sakonnet have an easement, and, if so, over what property?

Question 37

What duties does a mortgagor assume?

Question 38

What guidance is available to courts attempting to resolve a dispute between a landlord and a tenant?

Question 39

What are two common restrictions on the right to dispose of property by will?

Question 40

Peter and Suzanne Adams owned Lot 2 in a subdivision, and Albert and Sue Anderson owned adjoining Lot 3. The Adamses asked a court to declare that they owned a disputed piece of property along their border with the Andersons. The piece was a portion of Lot 3 that was sold by Myers, a previous owner of Lot 3, to Oberbillig, then the owner of Lot 2. Oberbillig paid for the piece and had a lot line readjustment survey evidenced by a written Record of Survey describing the piece, signed by the two parties, and recorded. Both lots were then sold several times. The deeds to Lot 2 did not mention the Record of Survey. When the Adamses bought Lot 2, their deed conveyed Lot 2 "amended by record of survey recorded May 20,... as Instrument No. 8221580." Did the Record of Survey convey the piece of property? [Adams v. Anderson, 127 P.3d 111 (Idaho)]

Question 41

Why might a deed not cite the actual consideration paid?

Question 42

William and Patricia Kramer owned a house across the street from a subdivision being developed by Angel's Path, L.L.C. Fifth Third Bank provided construction financing for Angel's Path and recorded a mortgage on the property as security. The Kramers sued Angel's Path and Fifth Third Bank for public nuisance from blowing dust and dirt and mud tracked into the street. They also alleged trespass from a sign they claimed lighted the front of the Kramers' residence, including three bedroom windows, twenty-four hours per day. The bank moved to be excused from the case because, as a mortgagee, it had no ownership or control of the property. Should the bank be excused?

Question 43

Thomas Guastello, as landlord, leased a building site improvements, and seven acres of land to Kroger Limited Partnership I. The building was in the location and dimensions shown in Exhibit B, the site plan. Exhibit B, incorporated into the lease, showed an enclosed building of 80,160 square feet. The site plan snowed an area near the building labeled "garden shop" no. included in the 80,160 square not budding. The lease permitted Kroger as its expense to construct, additional buildings on any portion of the leased premises; however, structural change, required Guastello's consent. Such consent would not be withheld if the structural integrity, of the building would not be impaired Kroger demolished the "garden shop" and built a post office facility. Guastello objected. In the ensuing lawsuit, he alleged that his consent for demolition of the garden shop was necessary. Was it?

Question 44

Perrin Blank purchased a dental practice, including a lease of professional office space, equipment, and patient records. At the expiration of the lease term, Blank entered into his own five-year lease with the landlord. The lease was renewed three times. The offices were then sold to a new landlord, who notified the tenants that he planned to demolish the building. Blank found another property and sued the landlord for damages for
"lost profits; injury to business; loss of good will; lost earnings; lost earning capacity; lost lease value; relocation costs and expenses (including new office plan, design and build-out; cost of non-movable equipment and fixtures; moving expenses of movable equipment and computers; new cabinetry; new telephone and speaker systems; new advertising/promotion/signage/stationary; rent differentials); water, electric and other utility expenses; higher premiums for new insurance; borrowing/financing costs and expenses; tax liabilities; consultant and broker fees; and attorneys' fees."
State law allowed a wrongfully evicted tenant to recover the difference between the value of the leasehold and the rent payable, lost profits that could be reasonably determined, and damages "for losses that are the natural, direct and necessary consequences of the breach... such as should reasonably have been contemplated by the parties." Did the new landlord owe Blank anything? If so, was he responsible for all the different types of damages Blank claimed? [WSG Palm Beach Development, LLC v. Blank, 990 So.2d 708 (Fla.Dist. Ct. App.)]

Question 45

Maria and W. R. Prestie married but divorced two years later. They maintained an amiable relationship. W. R. executed a will and the W. R. Prestie Living Trust. The will left everything to the trust, and the beneficiary of the trust was W. R.'s son, Scott Prestie. Neither provided for his former wife, Maria. When diagnosed with macular degeneration, W. R. moved to Las Vegas and bought a condominium. Maria also moved to Las Vegas and, as W. R.'s sight worsened, she took him to the doctor, cooked for him, and cleaned his condo. W. R. amended his trust to give Maria a life estate in his condo when he died. Then W. R. and Maria remarried. State law presumed that marriage revoked a will unless the spouse was provided for by the will or a marriage contract, or the deceased showed an intent not to provide for the spouse. When W. R. died, Maria alleged that their marriage revoked his will. Did it?

Question 46

Weaver and J.E. Jordon executed a warranty deed of 50 acres to Daniel and Pearline Dallinga. The deed contained restrictive covenants prohibiting commercial enterprise or enterprise of any kind on the property and was signed by Weaver and Jordan, but not by the Dallingas. There were several subsequent conveyances of the property until Jeremiah 29.11 Inc. became the owner. None of these conveyances referenced the restrictions of the Jordans' deed. Jeremiah used the property as a leadership-training center for pastors and leaders of nonprofit corporations and as a Boy Scout camp. Ernest Douglas and Leslie Seifert owned adjacent property formerly owned by the Jordans' and alleged that Jeremiah's use violated the commercial enterprise restriction. Jeremiah alleged that it was not limited by the Jordans' restrictions because they had not signed the original deed, and the restrictions were not in subsequent deeds. Did the restrictive covenants apply to Jeremiah?

Question 47

What right does an acceleration clause in a mortgage give the mortgagee?

Question 48

Does a lease without a definite, set time period last forever?

Question 49

Eric Faulkner, Duncan Fame, Alan lonv.mmr, Derek Longmuir, Leslie McKeown, and Stuart Wood were members of the 1970s rock band the Bay City Rollers (Rollers). Worldwide record sales have been estimated at between $70 million and $100 million. Despite having various contractual agreements to receive royalties from their record label, Arista Records LLC, the Rollers filed suit seeking, among other things, the imposition of a constructive trust for their failure to receive royalties for over 25 years. Arista did not deny its failure to pay, but defended, among other assertions, that the statute of limitations barred breach of contract claims and that no constructive trust could exist because no fiduciary relationship existed. Can a fiduciary relationship sufficient to impose a constructive trust exist between two for-profit entities? Can one party to a contract, who has failed to take action under the contract within the time prescribed by the statute of limitations, seek the equitable remedy of a constructive trust?

Question 50

What is the prime duty of an administrator, and how does it differ from that of an executor?

Question 51

What is an acknowledgment, and why is it necessary?

Question 52

Carl and Martha Traxler sold their 94-acre farm to Keith and Chastity Samuel for development of a residential subdivision. The Traxlers provided financing secured by a deed of trust. As the Samuels obtained buyers for various tracts of land, they requested partial releases from the deed of trust so that property could be transferred to buyers free and dear. The Traxlers generally cooperated. With respect to the sale of a tract to Darrel and Mellony Melson, no one asked the Traxlers for a partial release. Years later the Samuels fell behind on their payments. Four years after their purchase, the Melsons discovered that the deed of trust held by the Traxlers had not been released from their property. The Melsons asked the Traxlers for a partial release and were denied. Do the Melsons have a right to demand their tract be released from the Traxlers deed of trust?

Question 53

Samuel Oliva leased Amtech Reliable Elevator Company an office. Before the end of the term, Oliva sent a rider stating that all terms of a new lease period would be the same as the original lease except the monthly rent was to be $3,864 the first extra year, $4,057 the next, and $4,260 the third. It gave Amtech an option for three more years after that at $4,473, $4,696, and then $4,931. Amtech signed the rider and paid the prescribed rent for three years. Amtech then paid $4,473 for twelve months and, after assigning the lease to Otis Elevator Company, Amtech started paying $4,696, the rent for the second year of the option period. Four months later, Otis notified Oliva that the lease had expired at the end of the first three extra years and that it was a month-to-month tenant. It gave notice it was vacating in a month. The lease said that any holding over with the landlord's consent would be a tenancy from month to month at the final year's rent. Oliva sued for rent for the remaining option period. Should he recover it?

Question 54

What happens if all the prescribed formalities are not followed in executing a will?

Question 55

What ownership interests of property are divided by the establishment of a trust?

Question 56

Although unmarried, Mark Rausch and Michelle Devine lived together and had a L daughter, Sydney. Devine cared for Sydney and managed all household paperwork and bills Rausch provided their living expenses. Rausch, an attorney with experience in marital property law, asked lawyer friends to draft and acknowledge a quitclaim deed to Devine for his house in Anchorage. His friends recorded the deed, and Rausch apparently never thought about the deed. Devine did no, have funds, and Rausch continued to pay the mortgage. Several years later, Devine sued to have Rausch vacate the house. Devine alleged that the house was a gift from Rausch. Rausch asked the court to order that he owned it, alleging the deed was never delivered to Devine. Who owns the house?

Question 57

What rights does a mortgagor retain?

Question 58

What are a landlord's options when a tenant holds over?

Question 59

Alma Rodowicz leased property to United Social and Mental Health Services Inc. for ten years. The written lease allowed United to renew it only by notifying Rodowicz within six months of the expiration of the lease or any extension of it. Three days before the expiration, Rodowicz's attorney wrote United that the parties had come to an agreement that United could continue as a tenant at a reduced rent. United never responded but referred to the new lease as a month-to-month tenancy and paid the reduced rent for five years. United then notified Rodowicz that it planned to renew the lease for five more years. Rodowicz demanded United vacate and pay an increased monthly rental until it vacated. United protested but paid the increased rent and sued for enforcement of the lease. Had United renewed or extended the lease? [United Social and Mental Health Services Inc. v. Rodowicz, 899 A.2d 85 (Conn. App. Ct.)]

Question 60

What formalities must be followed to create a testamentary trust?

Question 61

How is a deed delivered?

Question 62

Wanda Williams purchased a residence that was financed by SunTrust Bank. After she failed to make the monthly payments, the bank began foreclosure proceedings. After required notices were given, the bank purchased the property at the foreclosure sale on October 2. On October 11, Williams filed a petition in bankruptcy and sought to set aside the foreclosure sale. Did she still have any interest in the property? Was there sufficient interest for the court to set aside the sale?

Question 63

King hired a laboratory to inspect and report on the mold levels in her apartment. Six different types of mold and bacteria were found, at "typical levels." None was toxic. The landlord had the tub recalked and installed an air filter. A second testing again showed "typical" levels of mold. King withheld rent, arguing that the mold condition constituted a breach of the implied warranty of habitability. Did the presence of mold entitle King to live there rent-free?

Question 64

Charles Wellshear designated his three adult children from his first marriage as the primary beneficiaries of the IRA he owned. When Charles died, his widow, Virginia Wellshear, who had been married to him for twenty years, also claimed the IRA. The IRA consisted of funds Charles had accumulated before his marriage to Virginia, after he married Virginia, and $77,000 contributed by Virginia shortly after their marriage Was Virginia entitled to any of the IRA funds?

Question 65

What is the purpose of recording a deed?

Question 66

What must a mortgagor do to redeem property after default?

Question 67

What is the difference between an assignment of lease and a sublease?

Question 68

What is the difference between ademption and abatement?

Question 69

What is an abstract of title, and what is its significance when transferring real estate?

Question 70

An unknown person stole Aurora Lepe's identity and bought real estate in her name. The identity thief obtained a loan secured by a mortgage on the property. The mortgage was subsequently foreclosed and the property sold. Following payment of the first and second mortgages, there were surplus funds, presumably because the property value had increased. As the mortgagor of record, Lepe was notified of the surplus. The law required that any excess after foreclosure be paid to the mortgagor. Lepe claimed the surplus because the unknown wrongdoer had fraudulently used her name and social security number to obtain funding to purchase the property. Should Lepe be paid the excess?

Question 71

Explain the duty of a landlord to mitigate damages.

Question 72

Adolph Liebig owned several parcels of real property. As part of an estate plan, Adolph recorded a Deed of Trust purporting to create 100 "Certificates of Beneficial Interest" for ease of distribution. By its terms, the trust would terminate in 25 years, and the assets were to be distributed to the holders of the 100 shares. Adolph distributed 50 shares to his wife, Valeria, and 50 shares were divided among Valeria and their three sons. The following year, Adolph died. Over time, Valeria gave her 50 shares equally to the three sons. No shares were ever given to the couple's three daughters. At the end of 25 years, Valeria and her son, who then were trustees of the trust, filed an accounting, received court approval, and wound up the trust. The real estate was deeded to the three sons as tenants in common. A few years later, one of the daughters sued to set aside the trust and quiet title in the six siblings equally. The daughter claimed that the trust was defective and void, so that upon Adolph's death the property should have passed to his heirs at law when he died. Were the daughters entitled to inherit anything? [Newman v. Liebig, 810 N.W.2d 408 (Neb.)]

Question 73

Alma Goddard jointly owned with her adult son Carl a residence situated less than 1,000 feet from a school. Alma conveyed her interest to Carl in exchange for his agreement to care for her for the remainder of her life and allow her to reside in the home. Subsequently, Carl informed his mother that he was required to move from the home because he was a sex offender. Alma hired an attorney to prepare a quitclaim deed from Carl to her. Carl executed the deed, and Alma gave him money to record it. Carl informed Alma that he had recorded the deed. When Alma attempted to return home after a hospital stay, she learned that instead of recording the deed, Carl had transferred the property to a third party. What happened to Alma's home?

Question 74

Explain who is benefited by title insurance.

Question 75

What does it mean to "assume a mortgage"?

Question 76

If the tenant moves out of leased premises before expiration of the lease, is the lease terminated?

Question 77

Shirley Webb was survived by her three sons, Roger, Mark, and Danny For many years, Danny had been working in the family business, Webb's Water Truck Service, and assisting his mother in her home. Shirley left the business and all its assets to Danny because he "continued to work for and directly assist … in the equity and value." The remainder of her estate, her personal assets, were to be split among Roger, Mark, and Danny. Danny was appointed personal representative. After nine months, Roger and Mark filed an application for Danny's removal. No inventory had been filed, Danny had removed some items from Shirley's home, claiming they were part of the business, and Danny was preparing to sell Shirley's home to his son. Was there sufficient cause to remove Danny?