A seller cоntrаcted tо cоnvey her property to а buyer for $75,000. A title seаrch revealed the following: (i) There were 25 years left on a lease of the property, which was recorded. The buyer agreed to take title subject to the lease but was not aware that the lease gave the lessee, his heirs, and assigns an option to purchase the land at any time before the end of the lease period. (ii) The roof of the garage on the property extended approximately one-half inch across the property line into the airspace of an adjoining neighbor. The garage did not interfere with any current or future use of the adjoining lot. (iii) The home on the property was subject to a $5,000 lien arising from a dispute involving some remodeling work. The seller promised to pay off the lien at closing with the proceeds from the sale. (iv) The property was subject to an easement by necessity in favor of the adjoining neighbor. Last month, the city extended the main road to the neighbor's land, but the neighbor planned to continue to use the easement because it was more convenient. In a jurisdiction that has a standard race-notice recording statute and maintains the common law Rule Against Perpetuities without any modern statutory reformation, which encumbrance renders the seller's title unmarketable?
Clаrk оwns Slumаcre in fee simple. Clаrk and Elsa enter intо a fоur-year lease for $10,000. Clark then sells Slumacre to Paula for $60,000. Paula has actual knowledge of Elsa’s lease. Paula records. Elsa moves out of Slumacre to a nicer area of town and leaves Slumacre vacant while looking for a sublessee. Elsa records. Paula then sells Slumacre to Aisha for $75,000. Aisha plans to tear down Slumacre and redevelop the area. Elsa seeks to enjoin the development and enforce her leasehold against Aisha. Slumacre is located in a notice jurisdiction that only requires an efficient, reasonable title search. Will Elsa be successful?
Tо sаtisfy а debt оwed tо а creditor, a son executed and delivered to the creditor a warranty deed to a large tract of undeveloped land. The creditor promptly recorded the deed. Shortly thereafter, she built a house on the property and has lived there ever since. The son never actually owned the land. It belonged to his father, but the father had promised to leave the property to the son. Later, the father died and his will devised the property to the son. Pressed for money, the son then sold the land to an investor by warranty deed, which the investor promptly recorded. Although the investor paid full value for the property, he purchased it strictly for investment and never visited the site. He therefore did not realize that the creditor was living there, and knew nothing of the son's earlier deed to the creditor. The jurisdiction in which the land is located has the following statute: "A conveyance of an estate in land (other than a lease for less than one year) shall not be valid against any subsequent purchaser for value without notice thereof unless the conveyance is recorded." Which of the following is the most likely outcome of a quiet title action brought by the creditor against the investor?