Jim and Tammy Barker donated land to the Daniel Boone University ...

[cdr_15]

Jim and Tammy Barker donated land to the Daniel Boone University with the following language: To the trustees of Daniel Boone University on the condition that the University remain affiliated with the TV Evangelists Ministry, Inc Jim and Tammy passed away and left all their property to their son, Jimmy, Jr. Shortly after their death, Daniel Boone University severed its ties with TV Evangelists. When Jimmy, Jr. learned of the severance, he sold the property to Hall Associates, a commercial real estate firm. Hall now wishes to develop the property and Daniel Boone University claims it still has title and has brought a quiet title action. Discuss the series of conveyances and determine who has title to the property.

Question 2

Negotiation of commercial paper results in lesser rights to transferees than those rights afforded assignees of contracts under contract law.
  Indicate whether the statement is true or false

[ciecieme]

Answer to Question 1

The original conveyance was a fee simple subject to a condition subsequent. When Daniel Boone ceased its affiliation, Jimmy Jr. had the right to enter the property and retake title, but his interest did not arise automatically and therefore his conveyance to Hall was premature. Presently Daniel Boone still has title but Jimmy Jr. can assert his rights by claiming the violation of the use restriction.

Answer to Question 2

FALSE

[cdr_15]

Thanks for the timely response, appreciate it

[marict]

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