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65 Cards in this Set

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What are the three major interests in land?
Estates (give possession)
Easements (give right to use)
Restrictive Covenants (restrict someone else's use of their land)
How can you get, keep or transfer an interest in land?
1. Adverse Possession
2. Conveyancing
3. Recording
4. Security Interest
What is the key word when thinking of ESTATES?
POSSESSION
What are the 2 types of estates?
1. Present Estates
2. Future Interests
What are the 2 present freehold estates?
1. Fee Simple Absolute
2. Life Estate
Describe a Fee Simple Absolute.
FSA runs forever and is fully alienable (no restraints on transfer of ownership). Any attempt to limit the right of transfer is VOID.
Courts will presume a fee simple unles _____________
language shows a clear intent to create another estate.
Describe a Life Estate.
A life estate is never measured by time, only by life.
What is a life estate pur autre vie?
"To A for the life of B" If A dies before B, the life estate passes to A's estate until B dies.
Restrictions on the transfer of a life estate _________ violate the rule prohibiting restraints on alienation.
DO NOT
What are the Rights and Duties of the Life Tenant?
All the life tenant can do is MAINTAIN the estate, and that means continuing the NORMAL USE of the land in its present condition.
What is WASTE?
If a life tenant does more or less than merely maintain the estate, then the life tenant is guilty of waste.
What are the 3 types of WASTE?
1. Voluntary
2. Permissive
3. Ameliorative
Voluntary Waste
Any affirmative action beyond the right of maintenance causing harm to the premises. Any change of use is voluntary waste, and the life tenant is liable to the holder of the future interest.
Open Mines Doctrine
Depletion of natural resources is waste unless the normal use of the land was to deplete them (coal mine, granite quarry).
Permissive Waste
Where the tenant has failed to maintain the land.
The tenant must do 3 things to avoid permissive waste:
1. Repair: the life tenant must keep property in repair, but is only responsible for ordinary repairs, not replacement.
2. Taxes: life tenant pays all the taxes on the property.
3. Interest: Life tenant pays any interest on any mortgage. Holder of the future interest must pay the principal.
The holder of a future interest must make sure taxes get paid, because a __________ terminates the future interest.
tax sale
The life tenant's obligation is limited to the amount of ______ ________ from the land, or if the life tenant is using the property, the reasonable rental value of the land.
income received
The life tenant ___________ have to insure the property.
does not
Ameliorative Waste
A type of voluntary waste that occurs when the affirmative act alters the property but substantially increases the value of it.
What is the rule of changed conditions?
If changes conditions have made the property relatively worthless in its current use, the life tenant can tear it down without liability to the holder of the future interest.
Class Gifts
Members of a class who predecease the testator are eliminated and do not recover; their gift LAPSES.
Rule of Convenience
The class closes when any one of the class is entitled to a distribution.
T's will devises Blackacre to A's children. At the time the will is executed A has 2 children, B and C. After the will is executed and before the T dies, A has another child, D, and B dies. Then T dies. Two years after T's death A has another child, E. Who takes?
B: NO, because B predeceases T

C: YES

D: YES

E: NO, but ROC closed the class when T died.
FUTURE INTERESTS
The interest exists now, but possession will not come unitl later, if at all.
What are the 2 types of future interests?
1. Those retained by the GRANTOR, and

2. Those given to the GRANTEE
What are the 3 future interests that can be retained by the Grantor?
1. Reversion
2. Possibility of Reverter
3. Right of Entry
What are the 2 types of future interests that can be given to a Grantee?
1. Remainder
2. Executory Interest
What is a REVERSION?
The interest kept by the Grantor when the Grantor gives less than the durational estate.
O to A for life.
O: reversion
A: life estate
O to A for life. Later A grants the property to B for life.
O: Reversion
A: Reversion for Life
B: Life Estate measured by both B's life and A's life
A reversion is _________ subject to the RAP.
NEVER
Possibility of Reverter
(for so long as, while, during, or until XYZ)
Whenever the grantor gives a fee simple determinable, the grantor keeps a possiblity of reverter.
O to A and his heirs for so long as no liquor is consumed on the premises.
O: possibility of reverter
A: fee simple determinable
Right of Entry
When Grantor gives a FS on a condition subsequent, grantor keeps a right of entry.
O to A and her heirs; provided, however, that if liquor is ever consumed on the premises then O or O's heirs shall have the right to reenter and retake the premises.
O: right of entry
A: fee simple on a condition subsequent
What are the two future interests that can be given to a GRANTEE?
1. Remainder
2. Executory Interest
Vested Remainder
Nothing stands in the way of its becoming possessory on the expiration of the estate that comes before it.
Contingent Remainder
Something has to happen before the remainder can become possessory.
Rule for Remainders.
Remainders will become possessory, if at all, only upon the natural expiration of the estates coming before them.
Executory Interest
Operates to cut short the estate that comes before it; does not come into possession at the natural expiration of the earlier estates.
O to A for life, then to B and his heirs; but if at B's death B is not survived by issue, then to C and her heirs.
B: Vested Remainder subject to an executory interest

C: executory interest
The holder of an executory interest ____________ sue a life tenant for waste.
cannot
RAP only applies to which 3 interests?
1. contingent remainders
2. executory interests
3. vested remainders subject to open
State the RAP.
If there is any chance that an interest might vest outside of a life in being plus 21 years, that interest is void.
RAP Exam Analysis.
Could everyone alive at the time of the grant die, and 21 years pass, before the interest might vest? If so, VOID.
RAP Charity Exception
The RAP is never violated if the gift over is from one charity to another charity.
Joint Tenancy
1. Right of Survivorship
2. Right to Partition
How do you create a joint tenancy?
4 Unities: Time Title Interest and Possession
TTIP
Special Language for Joint Tenancy.
Must state, "with right of survivorship" or else a tenancy in common will be presumed.
What are the 4 ways to sever a joint tenancy?
1. Conveyance by one of the JTs
2. Mortgage (minority, title theory state)
3. Contract of Sale (Doctrine of Equitable Conversion)
4. Creditor's Sale of the interest in the JT
Tenancy-In-Common
1. Right to Partition
2. No Right of Survivorship
Tenants in Common, G/R for profits
G/R: One co-tenant does not have to account to another co-tenant for a share of the profits.
What are the 4 exceptions to the TIC profit share rule?
A co-tenant must account for a share of the profits when:
1. Ouster
2. Agreement
3. Lease
4. Depletion of natural resources
5. Contribution
What are the 4 non-freehold estates? (landlord/tenant)
1. tenancy for years
2. periodic tenancy
3. tenancy at will
4. tenancy at sufferance
Tenancy for Years
Has to be for a specified time.

SOF: Any tenancy for years over 1 year must be in writing
Periodic Tenancy
An ongoing, continuing, repetitive estate, until one party gives valid notice.
G/R: Periodic Tenancy
If the lease does not specify how long it is to last, then it is presumed to be a periodic tenancy measuered by the rent payment.
Periodic Tenancy by Operation of Law
2 Situations
1. Oral Lease
2. Hold-Over Case
How do you terminate a periodic tenancy?
1. Give time equal to the period (year, only 6 mths. needed)
2. The effective date of the termination must be the last day of a period.
Tenancy At Will
Either party can terminate at any time, without notice.
Under a Tenancy at Will, a lease can also terminate 5 additional way:
1. Death of either party
2. Waste by the tenant
3. Assisgnment by the tenant
4. Transfer of Title by landlord
5. Lease by landlord to someone else
Tenancy at Sufferance
This is the bare possession of a holdover tenant. The lessor can either:
1. Hold T as a tresspasser or
2. Impose a new periodic tenancy on tenant
Higher Rent Rule
If landlord tells tenant of higher rent before expiration of the lease, and tenant holds over after expiration, lessor can impose the new periodic tenancy on the holdover tenant at the higher rent.