Property bona fide purchaser question

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Nick18
Posts: 27
Joined: Thu Jan 12, 2012 3:04 pm

Property bona fide purchaser question

Postby Nick18 » Sat Apr 27, 2013 3:19 pm

In this example, who would be the bona fide purchaser, and what sort of deed warranty claims could be brought? I am confused by this problem.


Lot 1 History
1980: O (original subdivider) to A (containing residential use covenant), deed recorded
1999: A grants an easement to a neighbor on Lot 2; easement recorded
2005: A to B, deed not recorded
2006: A to C, deed recorded (C knows of the A-B deed)
2009: C and D enter into an installment land sale contract (D is unaware of the A-B deed), which is recorded

D has been in possession of Lot 1 since 2009, and has paid over 70% of the purchase price through monthly installment payments to C
Assume the deeds listed above are all general warranty deeds. Identify all particular covenant claims, if any, that may be brought against particular covenantors after the Town of X's taking of the lot is completed.

Nick18
Posts: 27
Joined: Thu Jan 12, 2012 3:04 pm

Re: Property bona fide purchaser question

Postby Nick18 » Sat Apr 27, 2013 3:21 pm

Assume it's a race-notice jurisdiction... sorry

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UnfrozenCaveman
Posts: 282
Joined: Thu Mar 21, 2013 10:06 pm

Re: Property bona fide purchaser question

Postby UnfrozenCaveman » Sat Apr 27, 2013 5:51 pm

From what I know, I think the majority of courts would not find D to be protected as a bona fide purchaser unless he paid the full amount. D can recover the amount paid, C isn't protected either since it's a race notice jurisdiction and C had notice. B can likely bring suit to quiet title.




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