LAW 603 Chapter Notes - Chapter 16: Caveat Emptor, Mortgage Fraud, Title Search
27 Nov 2017
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Law 603 chapter 16: real property: sales and mortgages. Registration systems documents in the existence of interests in land. Land titles system generates certificates of title that virtually guarantee the validity of the interests that are listed. Indefeasibility the interests are included in a certificate of title cannot be defeated. Prescription and adverse possession: land is used in a particular way without permissions for 20 years, claimed under old registry system, land and titles system doesn"t allow prescription because it frustrated the mirror and curtain principles. Public easements: right to use neighbours property, has to have dominant tenement and servient tenement. Unpaid creditors: writ of execution do(cid:272)u(cid:373)e(cid:374)t that allows a (cid:272)ou(cid:396)t"s judge(cid:373)e(cid:374)t to (cid:271)e e(cid:374)fo(cid:396)(cid:272)ed. Sale occurs when ownership is transferred in exchange for consideration. General rule for the purchase of land is caveat emptor let the buyer beware. Experts for risk management of sales real estate agent, lawyer, appraiser, surveyor, inspector, environmental auditor.
