Mbe Property (Pmbr)

Front 1

fee simple defeasible estates (3)

Back 1

1. fee simple determinable
2. fee simple subject 2 condition subsequent
3. fee simple subject 2 executory interest

Front 2

fee simple determinable
1. what is it
2. future interest
3. keywords (4)

Back 2

1. fee simple estate created to continue until non/occurrence of event
2. possibility of reverter
3.
-so long as
-during
-while
-until

Front 3

fee simple subject 2 condition subsequent
1. what is it
2. future interest
3. keywords(3)

Back 3

1. fee simple estate that may be terminated upon the non/occurrence of an event
2. right of reentry
3.
-on condition that
-subject to the condition that
-but if

Front 4

fee simple subject 2 an executory interest
1. what is it
2. types (2)
3. future interest

Back 4

1. fee simple estate where upon the non/occurrence of an event, ownership passes from grantee to a third party
2. shifting/springing
3. remainder

Front 5

life estate
1. what is it
2. future interest

Back 5

1. freehold estate where duration is measured by the lives of
-grantor
2. reversion

Front 6

fee tail
1. what is it
2. keyword

Back 6

1. freehold estate used to limit inheritance to lineal descendents of grantee
2. "to X and the heirs of his/her body"

Front 7

freehold estates (3)

Back 7

1. fee simple absolute
2. life estate
3. fee tail

Front 8

power of appointment rules, and result of failure to follow

Back 8

1. grantee may leave estate to whoever he/she wants, so long as they do so in accordance to the grantor's wishes
2. failure to abide by grantor's wishes results in interest reverting back to grantor

Front 9

reversion

Back 9

an estate remaining in the grantor who has conveyed a lesser estate than that of the grantor

Front 10

possibility of reverter

Back 10

an estate that ripens automatically into a possessory estate upon the stated event

Front 11

right of reentry

Back 11

an estate where no automatic reversion occurs upon the stated event; instead, the grantor will have an option to reenter the premises and take possession

Front 12

remainder features

Back 12

future interest created in a third person which is intended to take effect after the natural termination of the preceding estate

Front 13

may one transfer their interest in a remainder

Back 13

yes

Front 14

difference between a contingent and vested remainder?

Back 14

1. contingent
-not vested
-will only vest if third party meets a condition

2. vested:
-estate will unconditionally vest in a third person

Front 15

types of vested remainders (3)

Back 15

1. remainder absolutely vested: will vest unconditionally to TP
2. remainder vested subject to complete divestment: will vest to TP, but if TP fails to meet a condition, then TP may lose the entire estate to a fourth party
3. remainder subject to a partial divestment: class gift that does not close until grantor's death

Front 16

executory interest

Back 16

a future contingent interest created in favor of a transferee, which upon the happening of the contingency will be transformed into a legal estate, and which cannot be construed as a remainder

Front 17

difference between executory interest and vested remainder

Back 17

executory interest is always contingent and will never vest, whereas the vested remainder will always vest

Front 18

shifting executory interest

Back 18

third person may take from the grantee, if the grantee meets a condition

Front 19

springing executory interest

Back 19

third person may take from grantee via a lapse through grantor, if the grantee meets a condition

Front 20

Rule in shelley's case

Back 20

If a life estate is conveyed to X and a remainder to the heirs of X, then the grantee gets a fee simple and the heirs are cut off

Front 21

doctrine of worthier title

Back 21

If X conveys life estate to Y with remainder to X's heirs, the remainder is cut off and there is a reversion in fee back to the grantor and his heirs

Front 22

requirements for valid lease (5)

Back 22

1. ID parties
2. describe leased land
3. writing compliant with SOF
4. terms of lease
5. amount of rent

Front 23

tenant's duties (3)

Back 23

1. Pay rent
2. make ordinary repairs
3. cannot commit waste

Front 24

circumstances releasing tenant from duty to pay rent (7)

Back 24

1. landlord release
2. merger
3. expiration of lease
4. eminent domain of ENTIRE PREMISES
5. constructive eviction/inhabitable premises
6. frustration of purpose
7. surrender: landlord occupies leased premises

Front 25

types of waste (4)

Back 25

1. voluntary: affirmative act
2. ameliorating: Inc. value
3. permissive: omission to act
4. equitable: recognized in eq. ct.

Front 26

landlord's duties (5)

Back 26

1. deliver possession
2. reasonable care of common areas
3. quiet enjoyment
4. premises suitable for a particular purpose
5. fix a negligent repair

Front 27

covenant against encumbrances

Back 27

promise that there are no, undisclosed encumbrances

Front 28

covenant of right to convey/seisin

Back 28

promise that grantor has title/possession and may convey both

Front 29

covenant of warranty/quiet enjoyment (2)

Back 29

promise to protect buyer if anyone comes along later to claim paramount title and buyer is unsuccessful

Front 30

covenant of further assurances

Back 30

promise to whatever is necessary to pass title

Front 31

caveat emptor rule for lesees and 2 exceptions

Back 31

1. lessee assumes suitability or dangerous condition

exceptions
1. hidden defect
2. completely furnished dwelling

Front 32

types of leasehold estates (4)

Back 32

1. tenancy for years: fixed duration
2. periodic tenancy: "month to month"
3. tenancy at will: terminable at either party's will
4. tenancy at sufferance: holdover tenant

Front 33

impact of second assignment

Back 33

1st assignee released from privity of estate with landlord

Front 34

assignment of lease:
1. tenant impact
2. assignee impact

Back 34

1. T still in privity of K w/ LL
2. Assignee in privity of K and estate w/ LL

Front 35

sublease:
1. tenant impact
2. sublessee impact

Back 35

1. T still in privity of K and estate
2. NO privity between sublessee and LL

Front 36

coexisting requirements to take title by adverse possession (6)

Back 36

1. w/o permission (adverse/hostile)
2. no sharing (actual/exclusive)
3. open 2 world (open/notorious)
4. continuous
5. for statutory period
6. no physical eviction by LL or court

Front 37

limitations on the acquisition of an adverse possessor (2)

Back 37

1. cannot acquire more than what is claimed
2. cannot claim less than a freehold estate

Front 38

impact of recording statutes on AP?

Back 38

none

Front 39

what is tacking?

Back 39

multiple adverse possessors, in succession may acquire land if they are in privity of one another

Front 40

when does the AP clock start for
1. landowner in fee simple?
2. landowner who is minor?
3. landowner who is remainderman?

Back 40

1. immediately and continuously
2. when minor reaches 18
3. when preceding estate terminates

Front 41

level of scienter needed to acquire by adverse possession

Back 41

honest mistake

Front 42

one general exception to adverse possession

Back 42

no public land

Front 43

what is a covenant running with the land and what are the four elements

Back 43

covenant running with the land is a contractual promise to do/refrain from something, enforceable at law

requires
1. writing compliant with SOF
2. intent of original parties that covenant run with the land
3. covenant touches & concerns the land (affects value/utility)
4. privity of estate: one of the K parties succeeds an interest in the land of another

Front 44

what is an equitable servitude and what is required to enforce a burden

Back 44

equitable servitude is a restriction on the use of land, enforceable in equity

enforce a bruden
1. intent to run w/land
2. notice to successors
3. burden touches and concerns land

Front 45

what is a mutual right of enforcement and what does it require

Back 45

1. a power among subdivision lot owners to enforce a restriction against all other lot owners
2. requires
-intent to impose restriction on all lot owners (common development scheme)
-constrictive or inquiry notice (recording)

Front 46

what is an implied reciprocal servitude

Back 46

restriction applies to a purchaser:
1. if a purchaser buys realty in a subdivision w/ knowledge of a restriction in his/her lot and the surrounding lots

Front 47

exception to the requirements to enforce a burden in an equitable servitude?

Back 47

if it can be shown that prior purchaser bought in reliance on restrictions to be contained in deeds to subsequent purchasers

Front 48

what will/will not invalidate an equitable servitude?

Back 48

dramatic change to subdivision>terminated
inconsistent zoning>not terminated

Front 49

difference between an equitable servitude and a covenant running with the land (2)

Back 49

1. ES is an equity action; CRWTL is an action at law
2. CRTWL requires privity; ES do not

Front 50

riparian water: natural flow theory (2)

Back 50

riparian water = lands which touch or abuts lakes or streams

natural flow:
1. each proprietor of land has a fundamental right to have the stream or lake remain substantially in its natural state.
2. Artificial or natural use must be sensible an not affect quality/quantity

Front 51

riparian water: reasonable use theory

Back 51

riparian water = lands which touch or abuts lakes or streams

reasonable use: each owner has a right to make maximum use of the water so long as it does not unreasonably interfere with the like use by other riparian

Front 52

treatment of percolating water

Back 52

water passing underground without a fixed channel is subject to reasonable use of the surface owner, and if it affects a neighbor, then it's too damn bad

Front 53

treatment of surface water

Back 53

landowner has unlimited discretion in dealing with surface water

Front 54

four requirements/unities required to create JT

Back 54

1. all interest vest simultaneously
2. all acquire by same instrument
3. all acquire for the same time/duration
4. all have identical rights of enjoyment

Front 55

how to convey a JT (2)

Back 55

1. will
2. deed

Front 56

how to sever a JT (4)

Back 56

1. inter vivos conveyance
2. partition
3. title theory mortgage
4. K to convey

Front 57

limits to a TE (2)

Back 57

1. no partition allowed
2. one spouse cannot convey interest

Front 58

how to sever a TE (2)

Back 58

1. divorce
2. death

Front 59

requirements for TIC to establish boundary with neighbor (2)

Back 59

1. an actual taking of possession following the agreement
2. the new, agreed-upon boundary must be marked by a fence or monuments

Front 60

how to sever a co-tenancy (4)

Back 60

1. partition
2. merger
3. conveyance
4. ouster

Front 61

rights and duties of concurrent owners (4)

Back 61

1. possession and enjoyment
2. retain and horde profits gained by use
3. if one pays taxes, all may be compelled to contribute
4. Unless partition occurs, no right to contribute for repairs and improvements

Front 62

"A conveyance of an interest in land shall not be valid against any subsequent purchaser for value, without notice thereof, unless the conveyance is recorded"

Back 62

pure notice:
pay value + no notice = rightful owner

Front 63

"A conveyance of an estate in land shall not be valid against any subsequent purchaser for value except such person as having actual notice of it, except if the conveyance is recorded"

Back 63

pure notice:
pay value + no notice = rightful owner

Front 64

"every conveyance or grant that is not recorded is void as against subsequent purchaser or beneficiary under a deed of trust who provides valuable consideration and whose interest is first duly recorded"

Back 64

race-notice:
pay value + no notice + record 1st = rightful owner

Front 65

shelter rule

Back 65

one who takes from a BFP will prevail against ay entity that the BFP would have prevailed against – takes shelter in the status of her transferor and steops into the shoes of the BFP

Front 66

"No unrecorded conveyance or mortgage of real property shall be good against subsequent purchasers for value without notice, who shall first record."

Back 66

race-notice:
pay value + no notice + record 1st = rightful owner

Front 67

No conveyance or mortgage of real property shall be good against subsequent purchasers for value and without notice unless the same be recorded according to law.”

Back 67

pure notice:
pay value + no notice = rightful owner

Front 68

land sale K requires (5)

Back 68

1. ID parties
2. adequate, sufficient description
3. price
4. promises on both sides
5. signed by the grantor

Front 69

when may an oral land-sale K be enforceable?

Back 69

part performance

Front 70

effect of destruction of a properly conveyed deed?

Back 70

none; the possessor has not returned the deed

Front 71

what does a quitclaim convey (2)

Back 71

whatever interest the grantor may hold; thus, this means that no warranties are included, regardless of grantor knowledge

Front 72

quality of title required upon closing if K is silent?

Back 72

whatever is customary, but no quitclaims

Front 73

when may breach of warranty occur?

Back 73

ONLY at closing; not prior to of following

Front 74

grantor 2 grantee 4 safekeeping

delivery?

Back 74

not without intent, which would create a rebuttable presumption

Front 75

grantor can't find grantee; grantor quits land and treats grantee as owner

deliver?

Back 75

yes, b/c of intent

Front 76

grantor retains possession/control of deed

delivery?

Back 76

rebuttable presumption of no delivery

Front 77

grantor delivers to X for the benefit of Y

delivery?

Back 77

yes

Front 78

is parol evidence permissible to determine intent of grantor of deed?

Back 78

yes

Front 79

impact of execution of a land-sale K (2)

Back 79

1. seller is equitable owner of purchase price
2. buyer is equitable owner of property/risk of loss and must take out insurance

Front 80

impact of sale of land if seller dies prior to closing (2)

Back 80

1. seller's heirs get bare legal title and must give that up to buyer
2. estate gets price as personal property

Front 81

impact on land sale if buyer dies before closing (2)

Back 81

1. duty to pay remains on PR/administrator
2. title passes to heirs

Front 82

when does risk of loss transfer to buyer w/o applying equitable converision (3)

Back 82

1. seller transfers title
2. buyer negligently damages realty
3. buyer takes possession

Front 83

when does risk of loss remain with seller following execution of land sale K?

Back 83

if Uniform Vendor and Purchaser Act in effect

Front 84

easement in gross v. appurtenant

Back 84

gross: for benefit of non-owner
appurtenant: for benefit of owner

Front 85

what is an easement by dedication

Back 85

public use easement (public street)

Front 86

effect of easement on title

Back 86

makes it unmarketable

Front 87

easement by necessity v. implied easement

Back 87

easement by necessity: created by express grant and survive necessity

implied easement: non-express grant that terminates with necessity

Front 88

commercial easement v. noncommercial easement

Back 88

commercial easements (in gross) may be alienated so long as burden is unchanged

Front 89

what is the burden rule for easements

Back 89

easements may not be altered in a way that increases their burden on the servient estate or used in a way that goes beyond the parties original contemplation

Front 90

implied easement v. license

Back 90

implied easement is granted out of necessity; licenses are not

Front 91

what is a fixture

Back 91

a chattel that has become real property

Front 92

how does chattel become a fixture

Back 92

1. intent of annexor that chattel become fixture
2. chattel must be annexed actually/constructively
3. chattel must be appropriated for the purpose for which the land is used

Front 93

factors to measure annexor intent for fixtures

Back 93

1. nature of the article
2. manner of annexation to land
3. injury to the land
4. completeness of integration to use of the land
5. relation of the annexor to the land

Front 94

trade fixtures (2)

Back 94

1. annexed by the tenant for pecuniary gain during her tenancy
2. are generally removable

Front 95

when is a license irrevocable?

Back 95

when it is coupled with an interest

Front 96

rule of lateral support

Back 96

one who withdraws lateral support of neighbor's land, in its natural condition, you are absolutely liable regardless of negligence

Front 97

non-negligent excavation/removal of lateral support, resulting in damages results in....

Back 97

recovery limited to the damages to the natural condition and not the artificial structures

Front 98

negligent excavation/removal of lateral support, resulting in damages results in...

Back 98

recovery on both land and artificial structures

Front 99

subjacent support

Back 99

support from underneath the surface as distinguished from the sides

Front 100

excavation releases fluid, causes sinkage in neighbor's land...

Back 100

you are liable!

Front 101

if marketable title not expressed in K

Back 101

implied duty for seller to convey marketable title

Front 102

deed v. land-sale K

Back 102

deed always wins

Front 103

deed is missing protections in land-sale K

Back 103

you lose protections

Front 104

when must marketable title be delivered?

Back 104

at closing, not beforehand

Front 105

standard defects rendering title unmarketable

Back 105

1. outstanding mortgages
2. outstanding reverter rights
3. restrictive covenants
4. encumbrances that cannot be removed w/ application of purchase price
5. easement upon any appreciable part of property
6. variation in names of grantor/grantee
7. outstanding dower interest

Front 106

mortgagor

Back 106

property owner who takes out the mortgage

Front 107

mortgagee

Back 107

bank/creditor of mortgage

Front 108

statutory redemption (2)

Back 108

1. following foreclosure, and sale of property, mortgagor may still pay off the debt
2. once paid off, mortgagor is entitled to receive the value of the land or the proceeds of the sale

Front 109

equity of redemption

Back 109

prior to foreclosure, the mortgagor is entitled to the right to pay off the debt and reacquire the property

Front 110

requirements for judicial foreclosure sale (4)

Back 110

1. open 2 public
2. properly noticed
3. conducted in reasonable manner
4. sale price does not shock the conscience

Front 111

how/when can a senior interest in property destroy a junior interest

Back 111

1. foreclosure
2. make junior interest a D
3. provide notice to junior interest

Front 112

impact of a junior lienholder foreclosing

Back 112

senior interest still gets first dibbs

Front 113

impact of allowing late payments

Back 113

if you want to get the original, timely payment deadline back, you must do so in writing