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54. Which of the following factors will be dispositive?
When the woman heard of the entrepreneur's plans, she asked her attorney whether the entrepreneur is bound by the promised residential-use restriction.
Several years later, the man conveyed the easterly tract of land to an entrepreneur, who planned to open a convenience store on the land. The deed to the entrepreneur contained no restrictions on use. The entrepreneur had no actual notice of the man's promise to the woman to include a restriction in the deed.
A man owned two adjacent vacant tracts of land; he sold the westerly tract to a woman. The deed to the woman expressly stated that the use of the land was restricted to residential use and made the restriction binding on the woman and her heirs and assigns. In the deed, the man also expressly promised, for himself and his heirs, that he would insert a similar residential-use restriction in any deed to the easterly tract of land given in the future. The woman promptly recorded her deed.
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A is incorrect. A buyer is on constructive notice of all information that a search of the land records would reveal. However, the type of index does not determine what instruments are in the chain of title.
B is incorrect. At issue is whether the entrepreneur had constructive notice of the restriction. If so, the entrepreneur would not be a good-faith purchaser for value. However, the recording system does not affect whether the entrepreneur is a good-faith purchaser for value.
D is incorrect. The intended use of the land does not affect whether the entrepreneur was aware of the recorded restriction.