Transfer and Control of Real Property
Explain (1) the essential elements of a contract of
sale of an interest in real property, (2) the meaning
and importance of marketable title, and (3) the
concept of implied warranty of habitability.
• Describe the fundamental requirements of a valid
deed and distinguish among warranty, special
warranty, and quitclaim deeds.
• (1) Describe the elements of a secured transaction,
(2) distinguish between a mortgage and a deed, and
(3) distinguish between an assumption of a mortgage
and buying subject to a mortgage.
• Define and give examples of (1) adverse possession,
(2) a variance, (3) a nonconforming use, and eminent
domain.
• Describe the nature and types of restrictive
covenants.
