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The shelter rule is a doctrine in the common law of property under which a grantee who has received an interest in property from a bona fide purchaser will also be protected as a bona fide purchaser, even if the grantee would not legally qualify for this status. The grantee is "sheltered" from other claims by the grantor's status as an actual ...
The grantor of a grant deed makes two guarantees to the grantee: 1) The grantor/seller guarantees that the property has not been sold to anyone else, and 2) That the house is not under any liens or restrictions that have not already been disclosed to the buyer/grantee. This assures grantee there are no legal claims to the property by third ...
The grantor is the party transferring away a property right, and the grantee is receiving a property right. In the case of a deed, the grantor would typically be the property seller, and the grantee the buyer. A mortgage grantor or mortgagor is the borrower of the loan since they are giving away certain property rights to the mortgagee, lender ...
Each U.S. state has a recording act, a statute which dictates the legal procedure by which an individual claiming an interest in real property (real estate) formally establishes their claim to that property. The recordation of property rights becomes particularly significant where an unscrupulous dealer in land purports to sell the same tract ...
This is a deed "for which the grantor implies to have or have had an interest in the property but offers no warranties of title to the grantee." [2] Under common law, this type of deed technically created a use in the buyer who then gets the title. [3] Under the statute of uses, modern real property law disregards this subtle distinction ...
Simply stated, the rule deals with remainders in the transfer of real property by deed. A remainder is a right "carved out" of the fee simple which has some future interest so that, at some later date, the holder of the remainder (the future interest) would have ownership rights in the property and those future rights would have to be preserved ...
A habendum clause is a clause in a deed or lease that defines the type of interest and rights to be enjoyed by the grantee or lessee. In a deed, a habendum clause usually begins with the words "to have and to hold". This phrase is the translation of the Latin habendum et tenendum that historically commenced these clauses in deeds.
The rule against perpetuities serves a number of purposes. First, English courts have long recognized that allowing owners to attach long-lasting contingencies to their property harms the ability of future generations to freely buy and sell the property, since few people would be willing to buy property that had unresolved issues regarding its ownership hanging over it.