8.        Buyer purchased Blackacre from Seller. Seller info…

8.        Buyer purchased Blackacre from Seller. Seller informed Buyer about how Blackacre was encumbered with a past mortgage with a $100,000 outstanding loan balance, due to Seller’s borrowing. The past mortgage did not include a due on sale clause. Buyer and Seller agreed that Buyer would assume the mortgage and Buyer did so with a valid written assumption agreement. Seller delivered a valid deed to Buyer, which was validly recorded. Six months later, Buyer defaulted on the mortgage and the mortgagee initiated a judicial foreclosure. The proceeds from the foreclosure sale were insufficient to cover the outstanding loan balance on the mortgage.There are no anti-deficiency statutes in the relevant jurisdiction.Can the mortgagee recover the deficiency from Buyer or Seller?

41.      Owen is the owner of a fee simple in a house in the…

41.      Owen is the owner of a fee simple in a house in the city of Danville and makes a valid inter vivos conveyance with this language: “I, Owen, convey my house in Danville, to Adam for life, then to Adam’s first child to reach 25.” Adam has no children. Assume in the relevant jurisdiction that the common law Rule Against Perpetuities applies to conveyances and wills and that the doctrine of destructibility of contingent remainders is abolished. At the time of the conveyance, Adam’s first child’s interest is best described as: 

32.       O, the owner of Blackacre in fee simple, conveys B…

32.       O, the owner of Blackacre in fee simple, conveys Blackacre in a valid deed using the following language: “I grant Blackacre to A for life with the remainder going to my heirs.” One month later, in a valid deed, A conveys her interest in Blackacre “to B so long as B manages an auto repair business.” Two years later A dies. B is still running an auto repair business.  Assume in the relevant jurisdiction that the doctrine of destructibility of contingent remainders is abolished, but other special rules such as common law Rule Against Perpetuities, Doctrine of Worthier Title, Rule in Shelley’s Case and merger are not abolished and apply where applicable.What interest does B have in Blackacre after A’s death?

17.      Billy and Judy are husband and wife and they have o…

17.      Billy and Judy are husband and wife and they have one daughter, Cindy, age 7.  Billy owns Blackacre in fee simple. Billy makes a valid inter vivos conveyance with the following language: “I grant Blackacre to my wife, Judy, for her life, then to my daughter, Cindy, for her life, then to my grandchildren who reach 21 within 21 years after the death of Cindy.” After the conveyance but before Judy dies, what best describes Cindy’s interest?