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52 Cards in this Set
- Front
- Back
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Removal of Fee Tail
To A and the heirs of his body... |
FSA
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Rule in Wild's Case
"to A and his children" |
1 - FT
2 - FSA If A has one or more children when the transfer takes place: A = 50% TIC (always) A's children = split 50% |
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RSC 10/1/1987
"to A for life, then to A's heirs" |
A holds FSA
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Doctrine of Worthier Title
"to A for life, remainder to O's heirs" |
Rule of Law, then diluted to rule of construction (modern majority)
the CR in O's heirs becomes a Rev in O |
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Doctrine of Worthier Title in NC
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abolishes DWT as a rule of law and as a rule of construction
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"to A for use as a church"
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FSA - precatory language
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Is restraint on alienation only applicable to fees?
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yes
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"to A for 10 years, but if A tries to convey the property during the first 2 years, then to B"
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A: ToY sub exec limitation
B: SHEI |
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Uniform Statutory Rule Against Perpetuities (10/1/1995)
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USRAP adopts "wait and see" approach and interests become void only if they actually fail to vest in 90 years
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If created on or after 10/1/1995 an option of first refusal becomes invalid after how many years?
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30
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Future Interests Following Certain Defeasible Fee Simples
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future interest becomes invalid if it does not vest within 60 years after created
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Does a conveyance in property to man and wife create a TIE automatically?
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yes
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Partition Deed Exception
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will not create TIE
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When can a TIE be attacked by creditors?
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- joint judgment based on joint obligation
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"to Harold and Sue Jones, and Bob Smith"
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Harold and Sue 50% (TIE)
with 50% Bob (TIC) |
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When is a writing required of a lease (NC?) (MBE?)
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NC - if it can exceed 3 years form its making
MBE more than one year |
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Notice to Terminate Lease (NC)
- yr to yr - mo to mo - wk to wk |
- 1 mo
- 1 week - 2 days |
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Notice to Terminate Lease (MBE)
- yr to yr - mo to mo - wk to wk |
- 6 mo
- 1 mo - 1 wk |
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SoL in NC for Prescriptive Easements
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20 years
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Does NC presume that the use of other's land is permissive?
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yes
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Two elements proving easement by prescription
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- no actual permission and
- performed acts of maintenance |
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Easement by Estoppel
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when lots in a development are conveyed with reference to a plat showing roads, trees, etc the buyer acquires an appurtenant easement for inducement to purchase
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Developer sells Lot 1 to A. Deed makes no mention of easement. Later, before A records his deed, D records a restrictive covenant for all lots. Is A's title subject to restrictions?
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No - cannot impose restrictive covenants after title has passed
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AP in NC for state-owned land
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- 30 yrs
- 21 yrs with color of title |
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AP in NC
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-20 years
- 7 years with color of title |
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Disabilities recognized for owner in AP? (3)
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- infancy
- insanity - incompetency |
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Tolling of Disability
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3 years after removal
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Is mistaken good faith belief enough to be "hostile"?
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yes
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Necessary Writings for Seller (SoF) (4)
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- description
- names - signature of person to be charged - price |
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Buyer seeking to enforce in SoL (3)
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- description
- names - signature |
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Doctrine of Part Performance
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not recognized in NC, but buyer can receive restitution damages to the extend it increased value
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NC reverses the Doctrine of Equitable Conversion via the Uniform Vendor-Purchaser Risk Act
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if all or a material part of the subject matter (property) is destroyed without the fault of the purchaser, and this occurs before POSSESSION or TITLE has been transferred, the vendor CANNOT enforce the contract
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To whom does the residential property disclosure act apply
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residential property which consists of 1 - 4 residential units
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How many days does a buyer have to terminate a contract without penalty after receiving residential disclosure?
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3 days
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SoL for implied warranty of workmanship
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10 years
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Measure of damages under implied warranty of workmanship
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cost of repair
may apply diminution if complicated |
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O executes a deed to T and T died one hour BEFORE O executed the deed.
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O holds - cannot convey to the dead
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"to heirs of B"
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children
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May delivery of a deed be by words alone?
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no
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Presumptions based on possession of a properly executed deed (2)
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- in possession of grantee = delivery
- in possession of grantor = non-delivery |
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Conditional Delivery (NC)
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Deed absolute on its face may be subject to conditional delivery, even when it is given directly to the grantee. Until the condition is met, delivery does not occur and the deed does not operate to pass title.
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SoL on actions to breach of deed covenants
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10 years
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"Deeds of Gifts"
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unless recorded within 2 years of when it is made, a deed of gift automatically becomes void.
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NC v. MBE #1
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MBE uses RAP, NC uses USRAP (90 year wait)
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NC v. MBE #2
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In NC, some POR and ROE have 60 year durations
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NC v. MBE #3
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In NC JT does not automatically include survivorship right
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NC v. MBE #4
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In NC, permission is presumed for prescriptive easements; majority presumes non-permission
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NC v. MBE #5
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NC calculates "disability" differently
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NC v. MBE #6
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On MBE, equitable conversion is used for ROL; NC uses Uniform Vendor-Purchaser Risk Act
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NC v. MBE #7
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RACE
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NC v. MBE #8
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In NC lease is subject to SOF if it has a term of more than 3 years from the date of agreement; a lease is subject to SoF in MBE for a term of more than 1 year
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NC v. MBE #9
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NC does not recognize doctrine of part performance as a method of satisfying SoF
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