My Notes Land Transfers:

Front 1

Easements:

Back 1

-Scope of Easements
-Transfer of Easements
-Termination of Easements
-Creation of Easements
-Types of Easements
-Other Interests in Land
-Miscellaneous Property Interests

Front 2

Scope of Easements:

Back 2

-Any change in use beyond the intent of the parties that created the easement is beyond the scope of the easement & NOT allowed
-Intent of parties is guiding principle
-Increases in frequency or intensity of use are generally permissible
-Scope may be determined from duration of easement, location of easement, or reasonable expectation of parties

Front 3

Transfer of Easements:

Back 3

>In Gross
>Appurtenant

Front 4

In Gross:

Back 4

-Burden: Always transfers land
-Benefit: Generally transferable unless use as transferred creates unreasonable burden on servient estate

Front 5

Appurtenant:

Back 5

-Burden: Always transfers land
-Benefit: Always transfers land
Note: NO separate document is required to effectuate transfer, nor is notice of either required

Front 6

Termination of Easements:

Back 6

Can be made by:
-Terms
-Merger of Dominant & Servient Estates
-Prescription
-Forfeiture
-Changed Conditions
-Frustration of Purpose
-Abandonment: Requires intent & clear act

Front 7

Creation of Easements:

Back 7

>Express Grant
>Deed
>Donative Transfer
>Contract
>Estoppel
>Implication
>Prescription

Front 8

Express Grant:

Back 8

Usually contained in a deed

Front 9

Deed:

Back 9

Owner of land may convey entire estate & reserve an easement for her own use, or to the benefit of a 3rd party

Front 10

Donative Transfer:

Back 10

Created by gift, deed, or will
-Consideration NOT necessary unless intent is NOT clear

Front 11

Contract:

Back 11

Reciprocal easements are adequate consideration

Front 12

Estoppel:

Back 12

Easement is asserted in equity when land owner permits certain use attempts to revoke that use at a later time

Front 13

Implication:

Back 13

In the absence of express agreement, intent of parties to create an easement can be implied from:
-Prior Use
-Necessity

Front 14

Prior Use Requirements:

Back 14

-Dominant/Servient estates were originally a single estate
-Permanent or long term, & NOT temporary
-Apparent & NOT concealed
-Reasonably necessary to enjoy the property

Front 15

Necessity Requirements:

Back 15

-Unity of title followed by severance;
-Strict necessity (Parcel is landlocked)

Front 16

Prescription:
(Like Adverse Possession)

Back 16

-Adverse: Inconsistent w/ owner's use
-Open/Notorious: Sufficient to put owner on notice
-Continuous:
-Uninterrupted for duration of statutory period

Front 17

Types of Easements:

Back 17

>Easement in Gross
>Easement Appurtenant
>Negative Easements

Front 18

Easement in Gross:

Back 18

Not attached to the land, will NOT transfer unless the owner of the land so intends

Front 19

Easement Appurtenant:

Back 19

Attached to the land, rights transfer to any new purchaser of the land
-Dominant Estate
-Servient Estate

Front 20

Dominant Estate:

Back 20

Estate benefited, appurtenant easement transfers automatically when dominant estate is transferred

Front 21

Servient Estate:

Back 21

Estate burdened, need not be adjoining to dominant estate

Front 22

Negative Easement:

Back 22

Owner of easement has right to demand that the owner of the servient estate refrain from using land in a certain way

Front 23

Other Interests in Land:

Back 23

-Easements
-Covenants/Equitable Servitudes
-Licenses
-Profits

Front 24

Easements:

Back 24

A nonpossessory interest entitling holder to some type of use or enjoyment of another person's land

Front 25

Covenants/Equitable Servitudes:

Back 25

A covenant is a types of servitude created by deed or contract & whose benefit or burden "Runs w/ the Land" to bind successors in interest
-When the rules regarding real covenants are NOT met, the agreement may be enforced in equity as an equitable servitude

Front 26

Licenses:

Back 26

Owner grants permission to another to use the land

Front 27

Profits:

Back 27

An easement entitling holder to come into the land in order to take something off it

Front 28

Miscellaneous Property Interests:

Back 28

-Bona Fide Purchaser
-Interest in Property

Front 29

Bona Fide Purchaser (BFP):

Back 29

One who takes possession:
-In Good Faith;
-For Valuable Consideration; &
-W/O Notice of Any Wrongful Possession

Front 30

Interest In Property:

Back 30

A BFP has superior rights to others claiming an interest in the same property, including the actual owner, where the BFP takes possession in Good Faith & Pays Value

Front 31

Breach of Fiduciary Duty:

Back 31

The failure of a fiduciary to observe the standard of care exercised by pros of similar education & experience

Front 32

Brokerage:

Back 32

A business in which brokers or agents are paid for entering transactions on behalf of others

Front 33

Fiduciary Duty:

Back 33

A legal obligation to act for the benefit of another, including subordinating one's personal interests to that of the other person

Front 34

Intentional Misrepresentation:

Back 34

A statement or conduct by 1 party to another that constitutes a false representation of fact

Front 35

Reliance:

Back 35

Dependence on a fact that causes a party to act or refrain from acting

Front 36

Specific Performance:

Back 36

An equitable remedy whereby the court requires the parties to perform their obligations pursuant to a contract

Front 37

Statute of Frauds:

Back 37

A statute that requires specified types of contracts to be in writing in order to be binding

Front 38

Earnest Money:

Back 38

A payment made by a buyer to a seller to evidence the intent to fulfill the obligations of a contract to purchase property

Front 39

Easement:

Back 39

The right to utilize a portion of another's real property for a specific use

Front 40

Merchantable Title:

Back 40

Title that, although not perfect, would be acceptable to a reasonably well-informed buyer exercising ordinary business prudence

Front 41

Rescission:

Back 41

The canceling of an agreement & the return of the parties to their positions prior to the formation of the contract

Front 42

Restrictive Covenant:

Back 42

A promise contained in a deed to limit the uses to which the property will be made

Front 43

Caveat Emptor:

Back 43

"Let the buyer beware"
-Doctrine that a buyer purchases something at his or her own risk

Front 44

Equity:

Back 44

Fairness; Justice
-The determination of a matter consistent w/ principles of fairness & not in strict compliance w/ rules of law

Front 45

Nondisclosure:

Back 45

The failure to communicate certain facts to another person

Front 46

Duty to Disclose:

Back 46

The duty owed by a fiduciary to reveal those facts that have a material effect on the interests of the party that must be informed

Front 47

Fraudulent Misrepresentation:

Back 47

A statement or conduct by one party to another that constitutes a false representation of fact

Front 48

Latent Defects:

Back 48

A defect that cannot be discovered upon ordinary examination

Front 49

Liquidated Damages:

Back 49

An amount of money specified in a contract representing the damages owed in the event of breach

Front 50

Malfeasance:

Back 50

The commission of an unlawful act

Front 51

Misfeasance:

Back 51

The commission of a lawful act in a wrongful manner

Front 52

Nonfeasance:

Back 52

The omission, or failure to perform, an obligation

Front 53

Condition Precedent:

Back 53

The happening of an uncertain occurrence, which is necessary before a particular right or interest may be obtained or an action performed

Front 54

Implied Warranty:

Back 54

An implied promise made by 1 party to a contract that the other party may rely on a fact, relieving that party from the obligation of determining whether the fact is true & indemnifying the other party from liability if that fact is shown to be false

Front 55

Privity of Contract:

Back 55

A relationship b/w the parties to a contract that is required in order to bring an action for breach

Front 56

Measure of Damages:

Back 56

Monetary compensation that may be awarded by the court to a party, who has sustained injury or loss to his person, property, or rights, due to another party's unlawful act, omission, or negligence

Front 57

Punitive Damages:

Back 57

Damages exceeding the actual injury suffered for the purposes of punishment of the D, deterrence of the wrongful behavior or comfort to the P

Front 58

Special Damages:

Back 58

Damages caused by a specific act that are not the usual consequence of that act & which must be specifically pled & proven

Front 59

Forfeiture Clause:

Back 59

A clause providing for the loss of property or a right w/o compensation therefor

Front 60

Reliance:

Back 60

Dependence on a fact that causes a party to act or refrain from acting

Front 61

Unjust Enrichment:

Back 61

Principle that one should not be unjustly enriched at the expense of another

Front 62

Covenant of Quiet Enjoyment:

Back 62

A promise contained in a lease or a deed that the tenant or grantee will enjoy unimpaired use of the property

Front 63

Covenantee:

Back 63

A party for whom a promise is made pursuant to a written agreement

Front 64

Future Covenants:

Back 64

A written promise to do, or to refrain from doing, a particular activity in the future

Front 65

General Warranty Deed:

Back 65

A deed that guarantees that the conveyor possess that title that he purports to convey

Front 66

Present Covenants:

Back 66

Covenant to do an act at the present moment

Front 67

Reservation of Rights:

Back 67

A clause in a deed or other instrument reserving particular rights to the grantor of the property

Front 68

Warranty Against Encumbrances:

Back 68

A guarantee in a contract that the interest in property being conveyed is unencumbered

Front 69

Chose in Action:

Back 69

The right to recover, or the item recoverable, in a lawsuit

Front 70

Covenant of Seisin:

Back 70

A promise that the conveyor of property has the lawful right to convey the interest he is attempting to transfer

Front 71

Foreclosure Sale:

Back 71

Termination of an interest in property, usually initiated by a lienholder upon failure to tender mortgage payments, resulting in the sale of the property in order to satisfy the debt

Front 72

Delivery:

Back 72

The transfer of title or possession of property

Front 73

Conveyance of Title:

Back 73

Any transfer or conveyance having an effect on title to an interest in real property

Front 74

Nullity:

Back 74

An act having NO legal effect

Front 75

Statute of Wills:

Back 75

An English law stating the requirements for a valid testamentary disposition

Front 76

Testamentary Instrument:

Back 76

An instrument that takes effect upon the death of the maker

Front 77

Bona Fide Purchaser:

Back 77

A party who purchases property in good faith & for valuable consideration w/o notice of a defect in title

Front 78

Due Diligence:

Back 78

The standard of care as would be taken by a reasonable person in accordance w/ the attendant facts & circumstances

Front 79

Fair Market Value:

Back 79

The price of particular property or goods that a buyer would offer & a seller accept in the open market, following full disclosure

Front 80

Foreclosure:

Back 80

An action to recover the amount due on a mortgage of real property where the owner has failed to pay their debt, terminating the owner's interest in the property which must then be sold to satisfy the debt

Front 81

Power of Sale Mortgage:

Back 81

A clause contained in a mortgage granting the mortgagee the authority to sell the property that is the subject of the mortgage upon default of the mortgage payments

Front 82

Promissory Note:

Back 82

A written promise to tender a stated amount of money at a designated item & to a designated person

Front 83

Equitable Title:

Back 83

Interest in property that is not recognized in a court of law but that is protected in equity

Front 84

Fiduciary:

Back 84

Person holding a legal obligation to act for the benefit of another

Front 85

Legal Title:

Back 85

Title such that is recognized by a court of law

Front 86

Liquidated Damages:

Back 86

An amount of money specified in a contract representing the damages owed in the event of breach

Front 87

Mortgagee:

Back 87

Party to whom an interest in property is given in order to secure a loan

Front 88

Mortgagor:

Back 88

Party who grants an interest in property in order to secure a loan

Front 89

Abstract Title:

Back 89

A summary of the history of title to a certain parcel of real property, including & transfers of, or liens against, such property

Front 90

Conveyance:

Back 90

The transfer of property, or title to property from one party to another

Front 91

Record an Instrument:

Back 91

The recording of a document in the public record

Front 92

Constructive Notice:

Back 92

Knowledge of a fact that is imputed to an individual who was under a duty to inquire & who could have learned of the fact through the exercise of reasonable prudence

Front 93

Good Faith Purchaser For Value:

Back 93

A party who purchases property in good faith & for valuable consideration w/o notice of a defect in title

Front 94

Idem Sonans:

Back 94

The doctrine that a name stated in a legal document need not be its exact spelling if the name as pronounced sounds sufficiently identical to the name in the document

Front 95

Bona Fide Purchaser:

Back 95

A party who purchases property in good faith & for valuable consideration w/o notice of a defect in title

Front 96

Race-Notice Recording Statute:

Back 96

Statute determining priority of interest in real property whereby a person who records 1st has a preference over others receiving an interest in the property from the same source only if the party received no notice of the prior unrecorded conveyance

Front 97

Estoppel:

Back 97

An equitable doctrine precluding a party from asserting a right to the detriment of another whom justifiably relied on the conduct

Front 98

Recordation:

Back 98

The recording of a document in the public record

Front 99

Chain of Title:

Back 99

Successive transfers of particular property

Front 100

Common Grantor:

Back 100

Mutual conveyor of property

Front 101

Restrictive Covenant:

Back 101

A promise contained in a deed to limit the uses to which the property will be made

Front 102

Actual Notice:

Back 102

Direct communication of information that would cause an ordinary person of average prudence to inquire as to its truth

Front 103

Lis Pendens:

Back 103

A pending action

Front 104

Adverse Possession:

Back 104

A means of acquiring title to real property by remaining in actual, open, continuous, exclusive possession of property for a statutory period

Front 105

Priority:

Back 105

The relative preference of different claims to specific property

Front 106

Beneficial Ownership:

Back 106

A party holding equitable but not legal title to property that is held by a 3rd party for his benefit

Front 107

Defeat in Title:

Back 107

Termination or annulment of a title

Front 108

Idemnify:

Back 108

Securing against potential injury
-Compensation for injury suffered

Front 109

Title Policy:

Back 109

A policy insuring against loss incurred as the result of a defective title

Front 110

Title Search:

Back 110

An exam of records of title documents in order to ascertain whether title to a particular property is defective

Front 111

Encumbrance:

Back 111

An interest in property that operates as a claim or lien against its title making it potentially unmarketable

Front 112

Indemnity:

Back 112

The duty of a party to compensate another for damages sustained

Front 113

Title Insurance:

Back 113

A policy against loss incurred as the result of a defective title

Front 114

Title Marketability:

Back 114

Title that, although not perfect, would be acceptable to a reasonably well-informed buyer exercising ordinary business prudence