Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
55 Cards in this Set
- Front
- Back
|
A Fee Simple Determinable creates the ____________.
|
Possibility of Revertor.
|
|
|
A Fee Simple Subject to Condition Subsequent creates the _________.
|
Right of Re-Entry.
|
|
|
"So Long As," "While," "Until" language creates a Fee Simple __________.
|
Determinable.
|
|
|
"But If," "On the Condition That," and " Provided That" language creates the Fee Simple __________.
|
Subject to Condition Subsequent.
|
|
|
If a Fee Simple uses ambiguous language, you assume it is a Fee Simple ___________.
|
Subject to Condition Subsequent.
|
|
|
A Fee Simple _____________ Terminates Automatically on the happening of an event.
|
Determinable
|
|
|
Modernly, a Fee Simple ________ can be willed or given away.
|
Determinable
|
|
|
Modernly, a Fee Simple ________ can be willed, but is NOT transferable.
|
Subject to Condition Subsequent.
|
|
|
Modernly, a ________ Interest can be willed or given away.
|
Reversion.
|
|
|
A Vested Remainder is Vested at the point that:
|
1) Created in an Ascertainable Person, and
2) Not subject to any Condition Precedent |
|
|
Under the Doctrine of _________, a gift should pass by descent rather than devise.
|
Worthier Title
|
|
|
What type of Waste occurs when a holder of a Defeasible Estate does not pay Taxes, Mortgage payment, etc.?
|
Permissive
|
|
|
What type of Waste permanently changes the property to increase value?
|
Ameliorative Waste
|
|
|
Modernly, one is able to commit Ameliorative Waste if:
|
1) The Market Value of the Remainderman's interest is not impaired;
2) It is Permitted by the Remaindermen, or 3) A Substantial Change in the area of Property has deprived owner of Reasonable Value. |
|
|
A ______ Remainderman can only sue for Future Waste.
|
Contingent.
|
|
|
A Restraint on Alienation that is placed on a Fee is _______.
|
Void.
|
|
|
A Partial Restraint on Alienation, such as a _________ or ________ are both Valid if ________.
|
Purchase Option; Right of First Refusal; Reasonable.
|
|
|
Under the R.A.P., no Interest is Good, unless...
|
it vests, if at at all, no longer than 21 years after some life being at the time of the interest.
|
|
|
What 6 Property Interest are Subject to the R.A.P.?
|
1) Purchase Option (not in lease)
2) Appointment Powers 3) Right of First Refusal 4) Remainders Subject to Open 5) Contingent Remainders 6) Executory Interests |
|
|
What are the 4 Unities that were once needed for a Joint Tenancy? And which ones are Needed now?
|
1) Time
2) Title 3) Interest (now) 4) Possession (now) |
|
|
If a Co-Tenant (JT, TIC) is denied Possession, he can:
|
1) sue for damages
2) Force Entry |
|
|
If a Co-Tenant (JT, TIC) produces Profits, there is No Obligations to split them, unless...
|
they were Ousted
|
|
|
If Profits are generated by a Third Party on the Land, Co-Tenants...
|
are entitled to their Proportional Share.
|
|
|
With regard to Co-Tenants (JT, TIC), there is No Duty to ______ or ______.
|
Repair; Improve.
|
|
|
If on Co-Tenant does Improve the Property, if he sells the land...
|
he gets the amount in increase.
|
|
|
If on Co-Tenant does Repair the Property, he can....
|
Seek Contribution.
|
|
|
Regarding Co-Tenants and any Taxes or Mortgage payments due...
|
each person is responsible for his share (Co-Tenant in Possession can Pay and seek Contribution).
|
|
|
What are the 2 ways to Satisfy the "Hostile" element of Adverse Possession?
|
1) Claim of Right: I don't care.
2) Color of Title: Good faith belief it is theirs |
|
|
A ________ Tolls the Statute of Limitations for Adverse Possession (only if it existed at time).
|
Disability.
|
|
|
Under the Uniform Vendor and Purchase Act (Minority), risk remains with Seller until either:
|
1) Legal Title, or
2) Possession. |
|
|
A __________ Title is implied in every Land Contract, unless stated otherwise.
|
Marketable
|
|
|
A Warranty Deed contains what 6 Covenants of Title?
|
Present:
1) Right of Seisin - Seller Owns Property 2) Right to Convey 3) Rights against Encumbrances Future 1) Right of Quiet Enjoyment 2) Warranty - seller will defend against 3rd parties 3) Further Assurances - seller will do what he can do perfect title |
|
|
If there is a Notice Statute, buyer needs....
|
to be a BFP.
|
|
|
If there is a Race-Notice Statute, buyer just needs....
|
Record First and be a BFP.
|
|
|
An Easement _____ Benefits the Land.
|
Appurtenant
|
|
|
An Easement _____ Benefits the Person or Company (e.g., Powerlines).
|
In Gross
|
|
|
Easement by _________ is like Adverse Possession for Easements.
|
Prescription
|
|
|
______ an Easement is where the Servient Estate (user) is going beyond what is Reasonable and the Owner can sue for Damages/Injunction.
|
Surcharging.
|
|
|
Termination of Easement by _______ is where one engaged in conduct that implies they are giving up Easement and Owner Foreseeably and Detrimentally Relies.
|
Estoppel
|
|
|
A Profit Right (Easement) can only be created ______ or by _______.
|
Expressly; Prescription.
|
|
|
A ________ Easement is a personal right to go on the land and is freely revocable.
|
License.
--> Can be in Writing. |
|
|
For a Covenant to Run with Land, it must:
|
P - Privity (K relationship that concerns land)
I - Intent (for all to all future people) N - Notice T - Touch (and Concern) |
|
|
For an Equitable Servitute to Run with Land, it must:
|
T - Touch and Concern
I - Intent (for all to all future people) N - Notice |
|
|
What is the Major Difference between a Covenant and an Equitable Servitude?
|
in a Covenant there was Horizontal Privity (Mortgagor, Landlord and Tenant, Vendor/Purchasor)
|
|
|
Equitable Servitude and Covenants must be in writing to satisfy the SOF, except for:
|
Implied Reciprocal Servitude (Negative Restrictions)
|
|
|
For an Implied Reciprocal Servitude (Negative Restrictions) to be present:
|
1) The restriction must be part of a common scheme or plan for an area
2) Current owner of estate must take notice of that restriction (implied) |
|
|
Under the Riparian View (Majority), people who live on the River/Watershed...
|
may make "Reasonable Use"
|
|
|
Under the ________ Rule, the Landlord has No Duty to deliver Possession.
|
American
|
|
|
Under the ________ Rule, the Landlord does have a duty to deliver Possession.
|
Common Law/English Rule
|
|
|
Every Lease contains a Covenant of _______.
|
Quiet Enjoyment.
|
|
|
The Warrant of _________ usually only applies to Residential Leases.
|
Habitability
|
|
|
At Common Law, one could not remove _______ from the Property after Move-out.
|
Fixtures (unless Trade Fixtures and did not Substantially Damage)
|
|
|
Today, most Property can be Removed, but it must be removed...
|
before the expiration of lease.
|
|
|
If one is a Subleasee, he is not in _______ , so the Landlord cannot sue.
|
Privity of Estate with the LL.
|
|
|
Rule in Dumper's Case/Majority:
|
- only applies to Assignments
- if there is a prohibition on assignments, if waived once by the LL, then deemed waived for duration of lease |
