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52 Cards in this Set

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Land Acquisition:

Hostile; open and notorious; continuous; exclusive; actual
Adverse possession
land acquisition:

1) Without the true owner’s permission
2) Look for permission from not true owner.
adverse possession:

Hostile
land acquisition:

nough use to put the true owner on notice
2) It must be put the land to its intended use
adverse possession:

open and notorious
land acquisition:

1) For the statutory period
2) For common law, it is 20 yrs.
3) Look for tacking – when you can tack on your time to someone else’s. You need privity though.
4) Continual use means seasonal use.
adverse possession:

continious
land acquisition:

1) Excludes others from possession, true owner. Not open to the public.
adverse possession:

exclusive
land acquisitions:

1) Actual Possession of the entire parcel.
adverse possession:

actual
land acquisition:

f. Title by adverse possession is not valid title, so the adverse possessor needs to get judgment for title to be valid before they convey title.
adverse possession
land acquisition:

i. Grantor promises that she has the estate she purports to convey (both title and possession)
land sale contract issues: 6 warranties:

seisen
land acquisitions:

i. Grantor promises that she has the authority to make a grant (that she has title)
land sale contract issues: 6 warranties:

right to convey
land acquisition:

i. Grantor promises there are no encumbrances on the land other than those previously disclosed to the buyer.
land sale contract issues: 6 warranties:

free from encumbrances
land acquisition:

i. Grantor promise to defend against reasonable claims of title by a third party, and to compensate the grantee for any loss sustained by the claim of superior title.
land sale contract issues: 6 warranties:

warranty of title
land acquisition:

i. Grantor promises that the grantee will not be disturbed in possession by a third party’s lawful claim of title.
land sale contract issues: 6 warranties:

quiet enjoyment
land acquisitions:

i. Grantor promises to perform acts reasonably necessary to perfect the title conveyed (will fix any problems with title).
land sale contract issues: 6 warranties:

further assurances
land acquisitions:

b. Doctrine of merger
c. SOF – part performance exception
d. Performance under a land sale K akin to breach
e. Quitclaim deed conveys whatever interest seller has
f. Covenant to transfer marketable title, free from defects
g. Time is not of essence, unless stated in K
h. General warranty deed contains
land sale contract issues
land acquisitions:

1) Execution of the Deed–
i. Must be in writing and signed by the seller
ii. Describe the land with sufficient accuracy so as to allow you to identify the property transferred
iii. Words of Present Transfer
2) Delivery of Deed
i. The grantor must have intent to pass title
3) Accepted
i. Deed must be accepted.
Deeds: three requirements for the deed to effectively pass title: Must Be
Land acquisitions:

(becomes an issue when someone sells property to A and then sells the same property to another) (a deed doesn’t have to be recorded to be valid)
recording
land acquisition:

person who pays full value and has no actual, constructive, or inquiry notice of the prior installment).
recording: bonafied purchaser for value
land acquisition:

1) Whoever records first will keep the property, must be first to record.
recording: race statute
land acquisitions:

1) A subsequent BFP for value and without notice takes over a grantee that did not record
recording:

notice
land acquisitions:

1) A subsequent bona fide purchaser who took without notice prevails over a prior grantee only if he records before the prior restraint.
recording:

race notice
land acquisition:

1) Actual Notice - no matter how he found out
2) Inquiry notice – reasonable person would have inquired
3) Constructive notice – record notice
recording:

notice: who takes in good faith without notice
land acquisition:

a. Terms
1) Buyer/borrower (mortgagor)
2) Lender (mortgagee)
3) Interest is equity of redemption
b. Foreclosure occurs upon default
c. Anti-deficiency statutes – it limits mortgagee collecting to the value of the property and mortgagee can’t go after mortgagor for deficiency.
d. Deed of trust – it allows deficiency judgment (they can take what’s left of the property and come after you) if the mortgagee uses judicial foreclosure and it is the property that bears the mortgagee is not a single-family residence or it is less than 4 single family residence.
Mortgage
land use:

A non – possessory property right giving the holder the right to use another’s tract of land for a special purpose (i.e. to lay pipe, to access a road or lake)
easements
land use:

Easement that benefits the holder in his physical use or enjoyment of another tract of land. The benefit of the easement passes with the transfer of the benefited land, regardless of whether it is mentioned in the deed/conveyance.
easement appurtenant
land use:

Where the holder acquires a right to use the servient estate independent of his possession of another tract of land (i.e. the easement benefits the holder rather than another parcel of land)
easement in Gross
land use:

Either expressly granting an easement to a third party or expressly reserving an easement for yourself only in a sale. Must be in writing and signed by the holder of the servient estate .
easement creation:

express easement
land use:

where the grantor passes title to piece of property but reserves right to continue use for special purpose.
easement creation:

easement by reservation
land use:

requires common ownership of property, plus absolute necessity
easement creation:

easement by necessity
land use:

requires common ownership of parcel before it was separate with prior use before separation of property and reasonable necessity
easement creation:

easement by implication
land use:

easement gained by adverse possession. You can never acquire easement by prescription of public lands.
easement creation:

easement by prescription
land use:

1) Court will anticipate present and future needs
easement scope
land use:

1) Involuntary destruction
2) Condemnation
3) Stated conditions
4) Merger
5) Abandonment
6) Estoppel – you can abandon by oral agreement, plus detrimental reliance
7) Written release
8) Prescriptive easements terminate by non-continuous use
9) End of necessity
easement termination
land use:

overuse of an easement
1) The remedy is not to wipe out the easement, it is to enjoin the conduct that is overuse
easement surcharge
land use:

applies when trying to restrict someone else’s use of their property and seeking money damages in court of law. Burden runs where there is. Four requirements for enforcement:
covenants
land use:

1) Intent - intent to bind successive people
2) Notice – actual, inquiry or constructive notice.
3) Horizontal (offeror and offeree shares interest in land independent from covenant) and vertical privity (where person has been transferred entire interest) between original contracting parties
4) Touches and concerns land – the benefit to the dominant estate has increased use and enjoyment, and servient estate has a restricted use
covenants four requirements
land use:

1) Intent
2) Vertical privity
3) Touch and concerns land
covenant benefits
land use:

1) Applies when tying to get an injunction in order to enforce the burden of a covenant/promise
covenants:

equitable servitude
land use:

you use this to imply a restriction when there isn’t one in writing – where the original owner of property intended a common plan or scheme and the purchaser has actual, constructive or inquiry notice of the scheme.
covenants:

implied reciprocal servitudes
future interests:

1. Interests that exist now, but will not become possessory, if at all, until sometime in the future.
future interests
future interests:

all conveyances are presumed to be in fee simple absolute, unless there is a clear intent to the contrary.
fee simple absolute
futute interests:

Same as a fee simple absolute, but subject to a condition which, if it occurs, gives the grantor the option to reenter and retake the land.
fee simple subject to a condition subsequent
future interests:

A fee simple estate that, upon the happening of a stated event, is automatically divested in favor of a third person rather than the grantor.
fee simple subject subsequent executive interest
future interests:

“To A for Life”. Estate measured by the life or lives of one or more persons.
life estate
future interests:

Taker is either not born or not ascertainable or there is a condition precedent that must be satisfied before the estate can become possessory. .
contingent remainder
future interests:

– two people can take, but once one meets condition they take first
alternative contingent remainder
future interests;

When the taker is a class or at least one class member already exists, but more members of the class could come along to partially divest the interests of the other class members.
vested remainder subject to open
future interests:

The class will close whenever any class member is entitled to a distribution.
rule of convenience
future interests:

applies only to contingent remainders, vested remainders subject o partial or complete divestment, or executory interests. No interest is valid unless it must vest, if at all, within a life in being at the creation of the instrument, plus 21 years.
rule against perpetuities
future interests:

a. Classify interests: as an Executory interests, contingent remainder, vested remainder subject to open
b. Identify relevant lives in being – if all are dead, then it violates rule against perpetuities
c. Determine triggering event – what makes interest vest
d. Think what might happen
e. Reclassify
rule against perpetuities
Concurrent Estates:

Estate held by several persons, all of whom have the right to enjoyment and possession of the land, and a right of survivorship.
concurrent estates
concurrent estates:

Marital estate akin to joint tenancy that, in common law jurisdiction, arises presumptively in any conveyance to a husband and wife. Can only be severed by death, divorce, mutual agreement, or execution by joint creditor of both spouses.
tenancy by entirety
concurrent estates:

Only requirement is unity of possession, can be held in different interest, but they each must be entitled to possession. Freely alienable, and no right of survivorship.
tenancy in common