Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
5 Cards in this Set
- Front
- Back
|
Mortgages at conveyance
|
if land purchased "subject to M" grantee NOT personally liable (PL)
if grantee "assumes the M" grantee IS PL if no reference to M then grantee NOT PL |
|
|
Priority of Mortgages
|
1. Purchase money Ms
2. Earliest recorded M 3. After acquired property interests |
|
|
Mutual Mistake
|
Both parties are mutually mistaken in re terms of the agreement. If their mistake goies to the heart or essence of the agreement, it will be grounds for recission
|
|
|
Unilateral Mistake
|
1 person is mistaken regarding terms of the agreement. Generally will not prevent formation of K unless the non-mistaken party knows of the other's mistake.
|
|
|
Warranties of an Assignor
|
An assignor for value warrants to the assignee that he will do nothing to defeat or impair the value of the assignment and that the right, as assigned, actually exists and is subject to no limitations or defenses
|
