Real Property - Multistate Bar Exam
2024 Questions and Answers
Creation of joint tenancy - ANSWER-C/l: conveyance to 2+ persons at the same time,
by same instrument, of the same interest, giving identical right to possession of the
property.
Modern: Joint tenancy disfavored and tenancy in common presumed for conveyances
to 2+ people, absent an express intention to create a right of survivorship in the grant.
Doctrine of equitable conversion - ANSWER-*Between Buyer and Seller, no 3rd parties,
.g. creitor*
Once a K is signed and each party is entitled to specific performance, equity regards the
purchaser as the owner of the real property and the seller's right to the proceeds of sale
as the seller's personal property.
The "bare legal title" that remains in the seller is considered to be "held in trust" for the
purchaser as security for the debt owned.
If the seller dies, the bare legal title passes to the takers of her real property, who are
required to pass title to the purchaser when the K closes via the deed.
Lien theory vs. title theory - ANSWER-Lien: majority, mortgage is a lien on title and
does not sever joint tenancy unless foreclosed & sold.
Title theory: minority, severs joint tenancy because a lien = transfer of title
Notice to terminate periodic tenancy of year-to-year+ - ANSWER-C/l: 6mo
Res/bar preference: 1mo
All alterable by agreement
General or common scheme doctrine - ANSWER-Exception to rule that the original
promise re: equitable servitudes must be in writing
Rule: If a developer subdivides land and some deeds contain restrictive covenants while
others do not, restrictive covenants bind all parcels provided that there is a common
scheme of development and notice of the covenants.
, The scheme must have arisen before the lot in question was sold. The scheme must be
evidenced by a recorded plat, a general pattern of restrictions, or oral representations to
early buyers.
Notice: Inquiry notice includes the fact that the neighborhood seems to conform to the
common restriction; record notice includes any prior deed in grantee's chain of title that
includes the covenant.
Two steps to conveyance of real estate - ANSWER-1) Land K: conveys equitable title;
endures until deed [K law applies]
2) At closing, deed passes legal title and becomes operative document [Real Property
law applies]
SOF requirement - ANSWER-Writing signed by party against whom enforcement is
sought that 1) IDs the parties, 2) describes the property 3) states price of method of
determination, e.g. appraisal
Remedy if K inaccurately describes the land - ANSWER-Specific performance with pro
rata reduction in price
SOF Doctrine of Part Performance - ANSWER-May enforce through specific
performance if oral K is certain and clear and partial performance (2 of 3):
1) Buyer has possession of property
2) Buyer has paid purchase price or significant portion
3) Buyer has made substantial improvements
Risk of loss - ANSWER-Passes to buyer when K conveys equitable title to the buyer,
unless K has allocated differently.
Even if risk passes to buyer, seller's insurance coverage should be credited against
purchase price
Passage of title on death - ANSWER-Buyer dies after K but before closing: interest
passes as real property to their estate
Seller dies: right to purchase price passes to estate as personal property
Implied promises in every land sale K - ANSWER-Seller will provide marketable title and
seller will not make false statements of material fact
Marketable title rule - ANSWER-Every K contains an implied covenant that the seller will
provide marketable title (unencumbered fee simple with good record title) at closing.
Marketable title is title reasonably free from doubt and the threat of litigation.
Defects in record chain of title - adverse possession - ANSWER-Seller must provide
good record title.
2024 Questions and Answers
Creation of joint tenancy - ANSWER-C/l: conveyance to 2+ persons at the same time,
by same instrument, of the same interest, giving identical right to possession of the
property.
Modern: Joint tenancy disfavored and tenancy in common presumed for conveyances
to 2+ people, absent an express intention to create a right of survivorship in the grant.
Doctrine of equitable conversion - ANSWER-*Between Buyer and Seller, no 3rd parties,
.g. creitor*
Once a K is signed and each party is entitled to specific performance, equity regards the
purchaser as the owner of the real property and the seller's right to the proceeds of sale
as the seller's personal property.
The "bare legal title" that remains in the seller is considered to be "held in trust" for the
purchaser as security for the debt owned.
If the seller dies, the bare legal title passes to the takers of her real property, who are
required to pass title to the purchaser when the K closes via the deed.
Lien theory vs. title theory - ANSWER-Lien: majority, mortgage is a lien on title and
does not sever joint tenancy unless foreclosed & sold.
Title theory: minority, severs joint tenancy because a lien = transfer of title
Notice to terminate periodic tenancy of year-to-year+ - ANSWER-C/l: 6mo
Res/bar preference: 1mo
All alterable by agreement
General or common scheme doctrine - ANSWER-Exception to rule that the original
promise re: equitable servitudes must be in writing
Rule: If a developer subdivides land and some deeds contain restrictive covenants while
others do not, restrictive covenants bind all parcels provided that there is a common
scheme of development and notice of the covenants.
, The scheme must have arisen before the lot in question was sold. The scheme must be
evidenced by a recorded plat, a general pattern of restrictions, or oral representations to
early buyers.
Notice: Inquiry notice includes the fact that the neighborhood seems to conform to the
common restriction; record notice includes any prior deed in grantee's chain of title that
includes the covenant.
Two steps to conveyance of real estate - ANSWER-1) Land K: conveys equitable title;
endures until deed [K law applies]
2) At closing, deed passes legal title and becomes operative document [Real Property
law applies]
SOF requirement - ANSWER-Writing signed by party against whom enforcement is
sought that 1) IDs the parties, 2) describes the property 3) states price of method of
determination, e.g. appraisal
Remedy if K inaccurately describes the land - ANSWER-Specific performance with pro
rata reduction in price
SOF Doctrine of Part Performance - ANSWER-May enforce through specific
performance if oral K is certain and clear and partial performance (2 of 3):
1) Buyer has possession of property
2) Buyer has paid purchase price or significant portion
3) Buyer has made substantial improvements
Risk of loss - ANSWER-Passes to buyer when K conveys equitable title to the buyer,
unless K has allocated differently.
Even if risk passes to buyer, seller's insurance coverage should be credited against
purchase price
Passage of title on death - ANSWER-Buyer dies after K but before closing: interest
passes as real property to their estate
Seller dies: right to purchase price passes to estate as personal property
Implied promises in every land sale K - ANSWER-Seller will provide marketable title and
seller will not make false statements of material fact
Marketable title rule - ANSWER-Every K contains an implied covenant that the seller will
provide marketable title (unencumbered fee simple with good record title) at closing.
Marketable title is title reasonably free from doubt and the threat of litigation.
Defects in record chain of title - adverse possession - ANSWER-Seller must provide
good record title.
