Bar Exam Uniform Quiz
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REAL PROPERTY
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A developer contracted to purchase a 50-acre tract of land for a new subdivision. The contract required the seller to provide marketable title. A title search revealed that the seller's deed was a quitclaim deed from a previous owner. Furthermore, a notice of lis pendens was filed against the property a week before the contract was signed, indicating an ongoing lawsuit between the seller and a third party who claims to have an option to purchase the property. The developer wants to rescind the contract.
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