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73 Cards in this Set
- Front
- Back
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What is required for recording in a race-notice jurisdiction?
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-BFP purchased w/o notice of earlier sale
-First to record |
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What is a license?
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-A privilege to enter another's land for some delineated purpose
-Not subject to Statute of Frauds -Freely revocable at the will of licensor unless estoppel applies to bar revocation. Estoppel will apply when the licensee has invested substantial money, labor or both in reasonable reliance on the license's continuation. |
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What is the shelter doctrine?
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If BFP purchases property, he can subsequently deed the property to a person who had notice of the prior deed and that person is treated as BFP.
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What is a charitable trust?
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-Beneficiaries are indefinite and unidentifiable
-Trust has charitable purpose |
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What is an easement?
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Grant of non-possessory interest which gives the holder the right of access across another's land (servient tenement)
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What are the types of easements?
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Appurtenant: benefits the holder in his physical use/enjoyment of his property (TRANSFERABLE)
Gross: holder gets personal or pecuniary advantage that is unrelated to use/enjoyment of his land (NOT TRANSFERABLE unless for commercial use) |
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When a survey conflicts with a plat, which prevails?
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Survey
The plat is only intended to be a representation of the actual survey as made on the land itself. The plat is in the nature of a certified copy of an instrument that will be controlled by the original. Where a survey is made and marked on the ground conflicts with the plat, the survey prevails. |
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What is the effect of a partial condemnation on the landlord-tenant relationship?
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The landlord-tenant relationship continues, as does the tenant's obligation to pay the entire rent for the remaining least term.
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What is the language of a race-notice statute?
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Without notice...first recorded
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What is the language of notice statutes?
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Without notice [unless recorded]
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What is the shelter rule?
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It allows a person who takes from a BFP to prevail against any interest that the transferor-BFP would have prevailed against, even if he has actual knowledge of the unrecorded interest.
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What is the simple test for Rules Against Perpetuities (RAP)?
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-Last person mentioned by proper name and all prior parties take
-The next subsequent party not mentioned by name takes -All additional parties lose and the property reverts back to the grantor or grantor's heirs |
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What are the rights and duties of the life tenant?
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-Maintain the estate (continue normal use of land in present condition)
-Not commit waste |
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What is waste?
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-Voluntary waste: affirmative action beyond maintaining normal use
-Permissive: LT fails to maintain normal use by not repairing, paying taxes or interest on a mortgage -Ameliorative: affirmative act alters the land but increases the value |
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What type of possessory interest is created by the following language(s)?
"So long as" "While" "During" "until" Also what future interest is created? |
Fee simple determinable (FSD)
Future Interest: Possibility of reverter |
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What type of possessory interest is created by the following language(s)?
"on condition that" "provided that" "however if "but if" Also what future interest is created? |
Fee simple subject to condition subsequent (FSSCS)
Future Interest: Power of termination/right of re-entry |
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What type of possessory interest is created by the following language(s)?
"on condition that" "provided that" "however if "but if""So long as" "While" "During" "until" Also what future interest is created? |
Fee simple subject to executory limitation (FSSEL)
Future interest: Executory interest (springing of shifting) |
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What are class gifts?
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Gifts to a class of unnamed persons
-The class opens when the property is transferred from the grantor -The class closes when any member of the class has a present possessory interest in the property. (Rule of convenience) |
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What are the 5 future interests?
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-Reversion
-Possibility of reverter -Power of termination/right to re-entry -Remainder -Executory interest |
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What is a reversion?
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A reversion is created when grantOR gives less than the duration estate that grantOR had.
Freely transferable NEVER subject RAP |
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What is a possibility of reverter?
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When the grantOR gives a FSD, they keep the PoR. Land returns to grantor if event does not happen
Freely transferable NEVRE subject to RAP LANGUAGE TO LOOK FOR: "So long as" "While" "During" "Until" |
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What is a right of re-entry?
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-Given on FSSCS where grantOR expressly reserves the right to enter upon property and retake it
Transfer limited to will or intestacy NEVER subject to RAP LANGUAGE TO LOOK FOR: "provided however" "But if" "Upon condition that" |
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What are the future interests given to a grantee?
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Remainder
Executory interest |
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What are the future interests that are retained by the grantOR?
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Reversion
Possibility of reverter Right of re-entry/power of termination |
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What is a vested remainder?
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Nothing (no conditions) stands in the way of grantEE getting property and we know who grantEE is
Vested remainder subject to open: where the class gift is not fully known |
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What is a contingent remainder?
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It is a remainder that is contingent on:
-Condition -Grantee not in existence -Identity of the taker before it can become possessory |
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What is an executory interest?
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Cuts short the estate that comes before it
Shifting: Executory interest takes title from one grantee and gives it to another Springing: Executory interest that takes title from grantOR and give it to a grantEE |
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What is the Rule Against Perpetuity?
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No interest is good unless it must vest, not later than 21 years after some life in being at the creation of the interest.
Applies to contingent remainders, executory interests and vested remainders |
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Framework for dealing w/RAP questions:
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-Read estates in order
-Characterize the estates -Ask: Could anyone alive at the time of the grant die, then 21 years past, before the interest might vest. If so then it's void. -Then first person by proper name takes -Next person/group not mentioned by proper name takes -No one else takes |
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What are the types of concurrent ownership?
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Joint tenants
Tenants in common Tenants by the entirety (NC) |
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How do you create a joint tenancy?
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Four Unities: TTIP
All interested vested at the time TIME under the same instrument (TITLE) with the same INTEREST and have the same rights of POSSESSION -Intent to create joint tenancy must be express -Must expressly state Rights of Survivorship |
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How can you destroy a joint tenancy?
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-Partition (voluntary)
-Severance (involuntary) via conveyance, mortgage (in a title theory state), contract of sale or creditor's sale |
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How do you create a tenancy in common?
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All tenants must have possession of the property at the same time.
There is no right of survivorship. |
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What are the rights and duties amount co-tenants?
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PAC:
-Possession: each has right to possess all property consistent with the other co-tenants' rights to possess it all -Accountability: Co-tenant MAY have to account to other regarding sharing of the profits if falls under one of the 4 exceptions -Contribution: for expenditures made by a co-tenant |
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What is the general rule with regards to accountability?
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Generally: No accountability for sharing of profits unless:
-Ouster: one tenant keeps the other off the property or claims exclusive possession -Agreement to share -Lease by one co-tenant to 3rd party -Depletion of natural resources |
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What is the difference between the tenancy by the entirety and the joint tenancy?
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The tenancy by the entirety includes the additional unity of one person, i.e. marriage.
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What are the non-freehold estates?
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Tenancy for years
periodic tenancy tenancy at will tenancy at sufferance |
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What is a tenancy for years?
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Tenancy for a fixed specified time
Any tenancy for years exceeding 1 year must be in writing per the Statute of Frauds |
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What is a periodic tenancy?
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A repetitive estate that keeps going until one party gives valid notice
Created by: -Express agreement -Implication: where lease is silent -Operation of law |
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What is a tenancy at will?
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It can terminate at any time without notice:
-death of either party -waste by tenant -assignment by tenant -transfer of title by landlord -lease by landlord to someone else |
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What is a tenancy at sufferance?
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This is when a valid lease has terminated but the tenant remains on the property
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What are the duties of the tenant?
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Pay rent and not commit waste
If lease says tenant(T) to repair and maintain then, T is liable for ALL damage to the property, including normal wear and tear EXCEPT if the property is destroyed w/o T's fault. |
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What are the landlord's remedies for abandonment by the tenant?
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SIR
-Surrender: T shows she wants to give up the lease -Ignore and hold T liable -Re-let and hold T liable for any deficiency |
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What are the requirements for constructive eviction?
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SING
-Substantial interference -Notice: T must tell L about the problem(s) -Good: T must leave w/i a reasonable time. |
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How do you determine the amount of rent charged to the holdover T when the new lease has increased rent?
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If L told T BEFORE the expiration of the old lease, T is bound by the new rent amount.
If L did not tell T about the new amount prior to the expiration the old lease, T is not bound to the new amount |
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If L breaches the implied warranty of habitability, what are T's remedies?
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All residential leases have an implied warranty of habitability, i.e. that the home is fit to be lived in.
Remedies: MR3 -Move out -Repair and deduct -Reduce rent and hold in escrow until court determines fair rental value Remain, pay rent and seek money damages |
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What is an assignment?
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T transfers all of the lease period to someone else, holding nothing back
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What is a sublease?
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T transfer a portion of the lease period, holding some time back
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What is privity of estate?
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the person who occupies the premises
Exists between L and T |
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What is privity of contract?
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The persons who hold the contractual obligation
Exists when there is an agreement between the parties or where assignee assumes the obligations under the lease |
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What are negative easements?
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Prohibits the servient tenement from doing something it would be ordinarily be able to do
-Can only be created by express writing by grantor -Pertains to LASS Light Air Support Stream water from an artificial flow |
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What is an affirmative easement?
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The right to do something on servient land
It's created by PING: Prescription Implication Necessity Grant |
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Is title acquired by adverse possession marketable?
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No because the purchaser may have to defend in court the facts that give rise to the adverse possession against the record owner. Therefore in order for title to be marketable the one who obtains title by adverse possession must bring an action to quiet title before the title can be marketable.
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When will new owners be bound by restrictive covenants?
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New owners will be bound by restrictive Covenants if the new owner had notice (actual, record, or inquiry, common development scheme/plan) of the restrictive covenant.
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What is a required for a burden (covenant) to run with the land?
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WITHN:
-Writing -Intent that the covenant runs w/the land -Touch and concern the land -Horizontal and vertical privity -Notice of the covenant |
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What is required for a benefit to run with the land?
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Benefit = WITV
-Writing -Intent to run w/the land -Touch and concern the land -Vertical privity |
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How can you terminate an easement?
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END CRAMP
-Estoppel -Necessity-when the need ends the easement ends -Destruction of the servient tenement -Condemnation of the servient estate -R: Release, written -Abandonment by physical action -Merger -Prescription, i,e, adverse possession for easements (COAH) |
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What is an easement in gross?
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It is an easement that gives to the holder a personal or pecuniary advantage that is not related to use/benefit of his land.
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What is an easement appurtenant?
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Easement benefits the holder in the physical use/enjoyment of his land
Dominent: holder of the easement that burdens the land of another Servient: serves the land of the holder of the easement Easements appurtenant transfers with the transfer of the benefited (dominent) land |
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What is marketable title to property?
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Free from encumbrances and good record title
Easements are encumbrances unless it is a beneficial easement that was visible or known to the buyer |
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What remedies do junior liens hold to avoid its lien being extinguished by a senior lien during a foreclosure sale?
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It can pay off (redeem) the senior lien.
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What is the difference between the equitable power of redemption and the statutory right of redemption?
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Equity right of redemption: gives the debtor the right to redeem the property by paying the full amount due PRIOR to the foreclosure sale
Statutory: allows the debtor the right to redeem the property by paying the foreclosure price AFTER the foreclosure sale |
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When is the seller obligated to give marketable title to the buyer in an installment land contract?
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When delivery is to occur, i.e. when the buyer has made the final contract
Therefore, the buyer cannot rescind a contract prior to delivery/closing, until after the final payment is made. |
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What is the covenant of warranty?
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GrantOR agrees to defend grantEE against any lawful/reasonable claims of title by a third party and compensate grantEE for any loss sustained by the claim of superior title
Runs with the land |
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What is the covenant for further assurances?
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A covenant to perform any acts that are reasonably necessary to perfect the title conveyed if it turns out to be
Runs with the land |
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What is the covenant of seisin?
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Covenant that grantOR has the estate or interest that she purports to convey
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What is the covenant against encumbrances?
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Covenant insuring that there are neither visible encumbrances (easements, profits, etc) or invisible (mortgages, etc.) against the title/interest conveyed
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What is the effect of a modification on an existing mortgage?
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G.R. Priority of the mortgage is determined by the time it was placed on the property and the foreclosure proceeds are applied accordingly. But if the landowner enters into a modification with a senior mortgagee (i.e. raising interest or making the agreement more burdensome), the junior mortgage will be given priority over the modification.
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What is the effect of a condemnation on a profit?
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Exclusive profit: holder of the profit gets just compensation
Non-exclusive: No just compensation |
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What is the Rule in Shelley's case?
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When an instrument gives a LE to A and a remainder to A's heirs, the interests merge and A takes both interests in FSA
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Under NC, RAP has been abolished and NC follows USRAP. How do they differ?
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If created on/after 10/1/95,
-interests valid under RAP are still valid -interests not valid under RAP may still be valid if they vest/terminate before 90 years from when they are created. |
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What is the SoL to acquire state-owned land via adverse possession?
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W/color of title: 21 years
W/o color of title: 30 years Color of title means that the writing that is purported to give title fails b/c the grantOR did not own the land or the granting instrument was defective |
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What is the SoL to acquire privately owned land via adverse possession?
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Color of title: 7 years
W/o color of title: 20 years |
