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Questions and Answers
What is the primary aim of the Marketable Record Title Act (MRTA) in Florida?
What is the primary aim of the Marketable Record Title Act (MRTA) in Florida?
Under the exemptions provided by Florida's MRTA, which interest is NOT excluded from nullification?
Under the exemptions provided by Florida's MRTA, which interest is NOT excluded from nullification?
What does a 'cloud on title' refer to in real estate terminology?
What does a 'cloud on title' refer to in real estate terminology?
Which type of claims are preserved and not nullified under Florida's MRTA exemptions?
Which type of claims are preserved and not nullified under Florida's MRTA exemptions?
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How does MRTA help in clearing the path for transferring ownership of real estate?
How does MRTA help in clearing the path for transferring ownership of real estate?
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Which type of claims are preserved under Florida's MRTA exemptions if they are reserved in favor of the United States or the State of Florida?
Which type of claims are preserved under Florida's MRTA exemptions if they are reserved in favor of the United States or the State of Florida?
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Study Notes
Marketable Record Title Act in Florida
Overview
The Marketable Record Title Act (MRTA) in Florida aims to establish clear title to real property by extinguishing claims that conflict with a record chain of title that is at least thirty years old (Section 712.02). Additionally, MRTA operates alongside recording acts and statutes of limitation, combining features of each to declare marketable titles based on specific requirements.
Exemptions
Florida's MRTA includes several exemptions that allow certain interests to persist despite the age requirement. Key exemptions include:
- Claimed as owner: Any person, including someone holding possession, who claims ownership through a thirty-year-old or older document or interest in the land is excluded from MRTA's nullification.
- Claims rooted in the chain of title: Interests inherent in the muniments (legal documents) of the chain of title, such as easements, remain valid.
- U.S. and State rights: Claims reserved in favor of the United States or the State of Florida under another statute are also preserved.
Cloud on Title
A cloud on title refers to disputes or potential disputes concerning the ownership of real estate. MRTA operates to eliminate clouds on title related to adverse claims prior to the age requirement, effectively clearing the path to transferring ownership without interference. However, while MRTA declares that such older conflicts should cease to exist, it allows for exceptions such as those mentioned above.
In summary, the Marketable Record Title Act in Florida seeks to simplify the conveyance of real property by eliminating potential conflicts based on a thirty-year requirement. The act takes into account various exemptions and allows for the preservation of specific interests that align with existing laws.
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Description
Test your knowledge on the Marketable Record Title Act (MRTA) in Florida, including its purpose, exemptions, and impact on clearing title to real property. Learn about clouds on title and how MRTA aims to simplify property conveyance.
