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25 Cards in this Set
- Front
- Back
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Severance of a JT
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SPAM:
- Sale - Partition - And Mortgage --- NY, MAJ (lien) rule: Mortgage does not severe JT ---- MIN rule: Mortgage severes JT |
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Waste
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- Voluntary/affirmative: Overt conduct
- Permissive: Neglect - Ameliorative: Cannot enhance unless all FI holders are known AND consent --- NY allows REASONABLE IMPROVEMENTS |
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Creation of a JT
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4 Unities (T-TIP)
- Time (@ same time) - Title (by same instrument) - Identical shares - Possess (right to posses the whole) |
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T breaches duty to pay rent
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- Stays on premise
--- EVICT & sue for rent (no self-help) - Out of possession (SIR) --- SURRENDER: Treat T's abandonment as offer to surrender which L accepts --- IGNORE the abandonment and hold T liable for rent --- RE-LET & hold T liable for deficiency (no duty to mitigate in NY) |
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L's duties to T
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- Duty to deliver possession
--- MAJ: Physical possession --- MIN: Legal possession - Implied cov't of quiet enjoyment, breached by (R&C) --- Actual wrongful eviction --- Constructive eviction (SING) ----- Substantial Interference ----- Notice ----- Goodbye - Implied warranty of habitation (non-waivable, R) --- Standard: Fit for basic human dwelling --- T's entitlement upon breach (MR3) ----- Move out & terminate lease ----- Repair & deduct from rent ----- Reduce/withhold rent until Ct determines fair rental value ----- Remain in possession, pay rent, and seek damages |
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L's tort liability
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Caveat lessee, EXCEPT (CLAPS)
- Common areas - Latent defects - Assumption of repairs - Public use (L knows b/c of the nature of the defect of length of the lease that T will not repair) - Short-term lease of furnished dwelling |
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Easements
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- Affirmative: Can do something
- Negative: Can't do something, must be in writing (LASS) --- Light --- Air --- Support --- Stream water from an artificial flow --- Scenic view (MIN) |
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Easements (creation)
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PING
- Prescriptive (NY SoL is 10 years) - Implied from existing use (PAIRN) --- PRIOR to division of single tract --- APPARENT use --- INTENT that use survive division --- REASONABLY NECESSARY to dominant's use/enjoyment -Necessity: Arises when owner of a single tract sells a portion that has no access to public roads/utility lines - Grant expressive (need SoF if >1 year) |
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Easements (termination
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END CRAMP
- Estoppel: Holder assurance of disuse + Servient change of position - Necessity: Expires when need ends - Destruction of servient land (other than thru willful conduct of servient owner) - Condemnation of servient land - Release (written, given by holder to servient) - Abandonment: Holder demonstrate INTENT by PHYSICAL ACTION - Merger doctrine (unity of ownership) - Prescription interference |
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Cov'ts (whether burden runs)
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WITHN
- Writing: Original promise between original parties in writing - Intent: Original parties intended cov'ts would run - Touch & concern the land: Promise must affect parties' legal relations as landowners - Horizontal & vertical privity - Notice of promise by buyer |
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Cov'ts (whether benefit runs)
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WITV
- Writing: Original promise between original parties in writing - Intent: Original parties intended cov'ts would run - Touch & concern the land: Promise must affect parties' legal relations as landowners - Vertical privity |
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Equitable servitudes
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WITNES
- Writing: Generally, original promise between original parties in writing - Intent: Original parties intended promise would be enforceable by & against assignees - Touch & concern the land: Promise must affect parties' legal relations as landowners - Notice of promise by assignees of burdened land - ES: Equitable servitude Defense: Conditions changed so pervasively |
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Implied equitable servitudes (reciprocal negative servitudes)
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- When sale began, sub-divider had general scheme of residential development which included D's lot
- D's lotholder had notice of the promise contained in the prior deeds (AIR) --- Actual --- Inquiry --- Record |
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Adverse possession
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COAH
- Continuous: Uninterrupted possession for the statutory period (NY SoL: 10 yrs) --- SoL will not run against true owner afflicted @ INCEPTION of AP - Open + notorious: Usual owner's possession - Actual: Entry must be literal - Hostile: Possessor does not have permission to be there --- MBE: Possessor's subjective state of mind irrelevant --- NY: Possessor must have good faith belief that the land is hers Tacking needs privity (non-hostile nexus) |
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Land K & the SoF
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K must be in writing, signed by the parties to be bound, describing land and stating consideration
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Land K (general)
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- RoL shifts to buyer under theory of equitable conversion
--- NY: As long as buyer is w/o fault, RoL remains w/ seller until buyer has title or takes possession - 2 implied promises in every land K --- Seller promises to provide MARKETABLE title @ closing --- Seller promises not to make any false statements of material fact (and must disclose latent material defects) - Thus, NO implied warranties of fitness/habitability UNLESS sale of a new home by builder-vendor |
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Land K (marketable title)
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Title not marketable if
- Adverse possession: Part of the title rests on adverse possession (seller need to first bring a judicial action declaring title) - Encumbrances --- Servitudes/moprtgages render title unmarketable, unless buyer waived them --- Seller can satisfy outstanding mortgage/lien @ closing w/ proceeds of sale - Zoning violations |
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Deed (general)
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Must LEAD
- Lawfully executed: In writing & signed by grantor --- Need not cite consideration --- Description need not be perfect, just need unambiguous description & a good lead - Delivered --- Test is LEGAL standard of grantor's PRESENT INTENT ----- Satisfied when grantor physically transfers the deed to grantee ----- Recipient's express rejection of the deed defeats delivery |
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Deed (types)
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3 types
- Quitclaim deed (no cov'ts) - Warranty deed (6 cov'ts) --- Present cov'ts (SoL runs @ delivery) ----- Seisin: Grantor owns estate she claims to convey ----- Right to convey: Grantor promises she has power to make this conveyance (no temporary restraints) ----- Against encumbrances: No servitudes or mortgages on the land --- Future cov'ts (SoL runs later) ----- Quiet enjoyment: No disturbance by 3d party's lawful claim of title ----- Warranty: Will defend grantee if there are later lawful claims of title ----- Further assurances (to perfect title) - Statutory special warranty deed (2 promises) --- Grantor has not conveyed estate to anyone other than grantee --- Estate is free from encumbrances made by grantor |
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Negotiable instrument (req'ts)
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WOSSUP
- Writing - Orderer/bearer: Payable to Orderer/bearer - Signed by maker/drawer - Sum certain: Reciting a sum certain - Payable on demand or @ a definite time - Payable in currency |
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Redemption
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In equity
- Universally recognized up to the date of sale - Clogging the equity of redemption in the mortgage itself is prohibited Statutory redemption - Post-sale, paying foreclosure sale price, undoes foreclosure sale & mortgagor is restored to tile - NY: No statutory redemption |
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Holder in due course
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Req'ts
- Instrument must be negotiable - Properly endorsed & delivered - Purchaser for value - In good faith - W/o notice that it is overdue/has been dishonored/is subject to any defense or claim |
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K/Signature liability
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D signed the negotiable instrument - if you sign, you promise to pay
- Maker: Promissor in the promissory note - Drawer: Payor of a draft - Indorser: Signed back of instrument |
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Warranty/transfer liability
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Seller's liability for selling a defective instrument
- Who can sue --- If D indorsed, any P in possession of the instrument can sue --- If D did not indorse, only D's immediate transferees may sue - D's 5 warranties --- P has good title to instrument --- All signatures are genuine and authorized --- Instrument has not been materially altered --- No defense/claim good against D (instrument is enforceable) --- No knowledge of any bankruptcy/insolvency proceedings against the maker/drawer |
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Mortgages & HiDC (Real defenses)
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MAD FIFI4
- Material Alteration - Duress - Fact-In-the-Factum - Incapacity - Illegality - Infancy - Insolvency |
