The Closing and Real Property Deeds Self-Quiz
Lonnie owns Blackacre. Toni
has lived on Blackacre as Lonnie’s tenant for 18 years and the two
have become good friends. One day Lonnie gets ill and is afraid that he
might die. So, he draws up a deed that states “I, Lonnie, hereby
grant Blackacre to my tenant of the past 18 years.” Is this deed
sufficient to transfer Blackacre to Lonnie
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Lonnie owns Blackacre. Toni
has lived on Blackacre as Lonnie’s tenant for 18 years and the two
have become good friends. One day Lonnie gets ill and is afraid that he
might die. So, he draws up a proper deed with the intent of giving the
deed to Toni, thereby conveying Blackacre to her. Lonnie gives the deed
to his friend, Mike and he tells Mike to give the deed to Toni the next
time Mike sees her. Unfortunately, Lonnie dies before Mike next sees Toni.
Has Blackacre successfully been transferred to Toni?
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Slick sells Greyacre to Gully.
At the closing, he conveys Greyacre to Gully using a quitclaim deed, which
Gully accepts. It turns out that Bank owned a mortgage on Greyacre that
Slick failed to disclose at the closing. Three months later, Bank repossessed
Greayacre. Is Slick liable to Gully for the damage caused by the repossession?
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Slick owns Greyacre that
he bought from Superslick and from whom he received a properly executed
and delivered deed. Slick sells Greyacre to Gully. At the closing,
he conveys Greyacre to Gully with a properly executed and delivered
deed. It turns out that Superslick never really owned Greyacre. He
had forged the property records to make it appear that he owned Greyacre.
Vic, the true owner of the property from whom Superslick stole the
property, brings an action against Gully and evicts him. Gully sues
Slick. Is Slick liable to Gully for damages resulting from his eviction?
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