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In 1888, a landowner owned a dairy farm. The landowner conveyed this real property to his son in1938. In 1953, the son conveyed the dairy farm to his friend. This deed was not recorded until after the son's death in 1957. In 1956, the son mortgaged the dairy farm to the bank. The mortgage instrument, which was recorded in 1956, recited that it was subordinate to a mortgage on the same land given by the son to an investor in 1936 and recorded in 1936. In that instrument the son purported to grant the investor a mortgage on the dairy farm. In 1979, the friend conveyed the dairy farm to a farmer. This deed was duly recorded, but did not mention any mortgage. In 2008, a buyer entered into an agreement with the farmer, whereby the farmer would convey the dairy farm in fee simple to the buyer for the sum of 75,000. The fanner executed a general warranty deed. The deed contains the following covenants of title:(1) Covenant for seisin. (2) Covenant of the right to convey. (3) Covenant against encumbrances. After the buyer takes possession of the dairy farm, he learns of the son investor 1936 mortgage, which was not satisfied, and seeks monetary damages for breach of the covenant against encumbrances. Judgment should be for
Plain-text mathematical notation (without MathML)
In 1888, a landowner owned a dairy farm. The landowner conveyed this real property to his son in1938. In 1953, the son conveyed the dairy farm to his friend. This deed was not recorded until after the son's death in 1957. In 1956, the son mortgaged the dairy farm to the bank. The mortgage instrument, which was recorded in 1956, recited that it was subordinate to a mortgage on the same land given by the son to an investor in 1936 and recorded in 1936. In that instrument the son purported to grant the investor a mortgage on the dairy farm. In 1979, the friend conveyed the dairy farm to a farmer. This deed was duly recorded, but did not mention any mortgage. In 2008, a buyer entered into an agreement with the farmer, whereby the farmer would convey the dairy farm in fee simple to the buyer for the sum of 75,000.TheclosingdatewassetforJanuary15,2009.Allofthedeedsmentionedintheaforementionedtransactionsaregeneralwarrantydeeds.Inaddition,thisjurisdictionhasanotice−typerecordingstatuteandfollowsatitletheoryformortgages.OnJanuary15,2009,thesaleofthedairyfarmisfinalizedandthebuyerpaidthefarmer75,000. The fanner executed a general warranty deed. The deed contains the following covenants of title:(1) Covenant for seisin. (2) Covenant of the right to convey. (3) Covenant against encumbrances. After the buyer takes possession of the dairy farm, he learns of the son investor 1936 mortgage, which was not satisfied, and seeks monetary damages for breach of the covenant against encumbrances. Judgment should be for
Original LaTeX notation
In 1888, a landowner owned a dairy farm. The landowner conveyed this real property to his son in1938. In 1953, the son conveyed the dairy farm to his friend. This deed was not recorded until after the son's death in 1957. In 1956, the son mortgaged the dairy farm to the bank. The mortgage instrument, which was recorded in 1956, recited that it was subordinate to a mortgage on the same land given by the son to an investor in 1936 and recorded in 1936. In that instrument the son purported to grant the investor a mortgage on the dairy farm. In 1979, the friend conveyed the dairy farm to a farmer. This deed was duly recorded, but did not mention any mortgage. In 2008, a buyer entered into an agreement with the farmer, whereby the farmer would convey the dairy farm in fee simple to the buyer for the sum of $75,000. The closing date was set for January 15, 2009. All of the deeds mentioned in the aforementioned transactions are general warranty deeds. In addition, this jurisdiction has a notice-type recording statute and follows a title theory for mortgages. On January 15, 2009, the sale of the dairy farm is finalized and the buyer paid the farmer $75,000. The fanner executed a general warranty deed. The deed contains the following covenants of title:(1) Covenant for seisin. (2) Covenant of the right to convey. (3) Covenant against encumbrances. After the buyer takes possession of the dairy farm, he learns of the son investor 1936 mortgage, which was not satisfied, and seeks monetary damages for breach of the covenant against encumbrances. Judgment should be for
choices
- the buyer, because the covenant against encumbrances is a guarantee to the grantee that the property is not subject to outstanding rights or interests.
- the buyer, because the covenant against encumbrances would be breached at the time the deed was delivered, thereby entitling the covenantee to recover damages.
- the farmer, because the covenant against encumbrances may only be breached, if at all, at the time of conveyance.
- the farmer, unless the covenantee is disturbed in his actual enjoyment of the land thereby conveyed.
subject
professional_law
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