real estate tues 3

http://en.wikipedia.org/wiki/Quitclaim_deed

http://en.wikipedia.org/wiki/Prenuptial_agreement

broker sales pers
get quitclaim fm oth spse even if claim it is sep
poss it is not

contracts---save for prenup

newly created by CA statute
http://www.help4srs.org/legal/newcpsvr.htm

avoids probabte

also jt tenancy avoids probate

if no will all goes to spouse

avoid probate
req. valid marriage

one TTIP

one by pol
tenancy in common

single man means never has been married

must specify divorce or widower
end of co-ownership
recording acknowledgement
county recorder with document
norwalk county recorder office
date time stamp

miniscule size

copy by hand
original deed
must be acknowledged

not public have expertise

county recorders do not spot fakes
require ID for notary public
rt thumb print
fakes
buy blanks fake thumbprint
97.8% (duff "i made that up" disclosure) effective
grant deed

re trump---wanted it to go to ct.
gen: anti-ct, soc. too litigous
constructive notice
legal fiction
http://en.wikipedia.org/wiki/Constructive_notice

race-notice examQ
---hurry to get there and no notice of a prior transfer

http://en.wikipedia.org/wiki/Legal_fiction

not permitted to give legal--tax law--advice draft docs
fast way to lose the license

ch 2
defeasible fee stuff
hardest ch
if you understand---this book---RE exam
test Q.

http://realestate.about.com/od/df/g/defeasible_fee.htm

http://en.wikipedia.org/wiki/Fee_simple

http://en.wikipedia.org/wiki/Defeasible_estate

choose better answer when multiple are true
hopefully no poorly writ Q

non free hold state
fm businessdictionary.com
Exclusive right to enjoy the possession and use of a parcel of land or other asset for an indefiniteperiod. In contrast, a leasehold estate is for a fixed, definite period. See also fee simple absolute in possession.
ch3
encumbrance---a restrictions that limits use and enjoyment of property
include

1. lien--charge against prop for payment of money
http://en.wikipedia.org/wiki/Lien

voluntary
involuntary (trust deeds and mortgages ch 8&9)

mechanics liens---in CA constitution bc most vulnerable
http://en.wikipedia.org/wiki/Mechanic's_lien
labor and materials---special category like equity---for gen contractor---subcontractor---
landscape contract

commencement of work----mech lien
date of priority
most things are when recorded---but for mech lien it is when work starts

perfecting lien by placing materials on site by giving priority---go to the head of the line----
vulnerability
file doc
preliminary notice within 20 days of work started in the county recorders office
day lumber placed
gives notice lien has priority
p52
contractor--takes prec over other liens---tax etc
unless they are prior
aft prelim notice
http://en.wikipedia.org/wiki/Preliminary_Notice

subcontractors---paid when contractors
never pay in advance

ninety days to hear excuses for non payment
contractors

filed notice of completion
http://www.answers.com/topic/notice-of-completion
sub contract shrinks to 30 days
contrct to 60

they then have to file suit
prove work done
no pay
defense: leaky roof
proof paid---in writing
judgement
priority goes back to 3 yrs b4
priority

MEMORIZE for DRE exam.


judgements
tax liens

general all prop you own

specific re specif prop

some voluntary and specific

trust deed and mortgage--later

2. CCR
3. encroachments
4. leases
5. blanket encumbrance (exam)---developer---100 lots say---money fm the bank---lien on all 1000 lots---sell lots---so then developer opens one lot so you can get loan
charge against property---for the payment of money


p 57
Exh 3-3

then
http://www.download-construction-forms.com/notice-of-non-responsibility.html