Property Law
Question
Please answer these quickly and thoroughly. I need them submitted closer to 2.5 hours so I have time to submit. Please use Bluebook (Chicago style) citations
Question 1
Define and explain in detail the concept of a bona fide purchaser. Give an example of a bona fide purchaser.
Question 2
Define adverse possession. In doing so, identify the elements of the law and explain, in your own words, each element. Provide an example of how claims of adverse possession have affected property owners in the real estate bubble crisis. You may utilize outside sources to find and explain your answer. Proper citation in accordance with The Bluebook form of citation should be used.
Question 3
Define an easement. (10pts) In what circumstances can easements be granted, terminated or transferred? Make sure to explain all three processes in detail.
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Solution
Property Law
Bona Fide Purchaser
The concept of a bona fide purchaser refers to someone who purchases assets innocently, such as a property, while lacking prior knowledge that a different party could claim ownership of the property. A case of a bona fide purchaser is when a property is fraudulently sold to an unsuspecting purchaser when it's already in a different person's possession (Glado, 2018). In such a case, the bonafide purchaser can legally claim ownership of the property. Although the process seems unfair, the actual property owner can file a lawsuit for deceit and fraud to recoup the damages.
Adverse Possession
Adverse possession refers to the doctrine in which someone possessing land that a different party owns could acquire a legitimate title to it, provided that the law requirements are met and that the adverse land possessor owns the property for a sufficient period, as stipulated in the statute of limitations. For the adverse possessor to get the title, the law demands that property possession be exclusive, actual, open and notorious, hostile and continuous. In being exclusive, the adverse possessor cannot share possession with any other party (Cherek, 2012). Also, the adverse possessor possesses a different party's property and the legitimate owner trespasses, and this should be pursued under the statute of limitations.
There are several examples of how adverse possessions have, over the years, affected property owners. For instance, there are several cases in the US where questions surrounding the legal ownership of property arise when a house is sold (Cherek, 2012). In one case, the title insurance company refused to issue insurance when the property was sold since the neighbor's garage stood on the property.
Easement
An easement refers to a legal situation whereby a land title remains in the landowner's possession. However, a different organization or person is awarded the right to utilize the land for a particular purpose. Easements can be granted by exclusively, continuously, adversely, and openly using the land for several years as provided by the state statutes. Easements can be terminated through a release, adverse possession, condemnation, recording act, demolition, end of necessity, through a merger or abandonment of property (Adam, 2021). The law permits easement owners to transfer their easement to other parties. However, all parties must agree before easements are transferred.
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