Facts: P contracted to sell and convey to D a residential property in Ridgewood
Issue:
Holding:
Rationale
– The law assures to a buyer a title free from reasonable doubt, but not from every
doubt…If “the only defect is the title” is “a very remote and improbable
contingency,” a “slender possibility only,” a conveyance will be decreed.
– The law implies that title must be marketable, even where the contract is silent
upon the point. The purchasers are in error in assisting that nothing less than a
good record title will suffice. A title that is marketable and insurable, though
imperfect of record, will meet the terms of the contract
– The implied covenant of marketable title assures buyers there will be no fight
over the land