Ny Real Property Finepoints

Front 1

Landlord/Tenant
Tenancy For years

Back 1

1) Fixed period Lease
2) Statute of Frauds-lease for a term of more than one year must be in writing.

Front 2

Landlord/Tenant
Periodic Tenancy

Back 2

1)Continues for Successive period to period-termination uncertain.

2) NY-notice must be given by landlord at least one month before expiration

Front 3

Landlord/Tenant
Tenancy at will

Back 3

1) Both landlord and tenant must have right to terminate

2) If lease lets only landlord terminate, then right implied to the tenant

Front 4

Landlord/Tenant
Holdover Tenant

Back 4

Landlord may evict or create periodic tenancy by accepting rent

Front 5

Tenant's Duties and Landlord Remedies- Duty to Repair/Doctrine of Waste
Voluntary Waste

Back 5

1) tenant intentionally/negligently harms premises.
2) tenant has absolute liability

Front 6

Tenant's Duties and Landlord Remedies- Duty to Repair/Doctrine of Waste

Permissive Waste

Back 6

Tenant has no duty to make substantial repairs

Front 7

Tenant's Duties and Landlord Remedies- Duty to Repair/Doctrine of Waste

Ameliorative Waste

Back 7

Tenant not permitted to make substantial alterations to premises even if alterations increase value of property.

Front 8

Tenant's Duties and Landlord Remedies- Duty to pay Rent

If tenant vacates:

Back 8

Landlord may:
1) do nothing and tenant is still liable for rent
2) accept surrender.

Front 9

Landlord's Duties to Tenant (3)

Back 9

1) must deliver premises
2) quiet enjoyment
3) implied warranty of habitability
***Ny--disclaimer in lease void as a matter of public policy

Front 10

Assignment

Back 10

transfer the entire balance of lease

Front 11

Assignment

Back 11

Both original tenant and assignee are liable to landlord for rent.
1) Original tenant is in privity of K with landlord
2) Assignee is in privity of estate
3)NY- UNless express right given in lease, RESIDENTIAL tenant may not assign without landlord's written consent **in other words..landlord can unreasonably withhold consent and tenant's sole remedy is release from lease.

Front 12

Sublease

Back 12

incomplete transfer of balance of lease

Front 13

Sublease

Back 13

1) Only original tenant is liable to landlord for rent.
2) Subtenant is not in privity with landlord
3) Ny-Residential building (4 or more units)--consent to sublease cannot be unreasonably withheld. If consent is unreasonably withheld, deemed consent.

Front 14

Tenant's Duties and Landlord Remedies- Duty to Repair/Doctrine of Waste

Permissive Waste

Back 14

Tenant has no duty to make substantial repairs

Front 15

Tort Liability of Landlord and tenant

Landlord's Liability

Back 15

Landlord's liability
1)Latent defect: knowledge and failure to disclose
2) Landlord contracts to repair
3) legal duty to repair

Front 16

Tenant's Duties and Landlord Remedies- Duty to Repair/Doctrine of Waste

Ameliorative Waste

Back 16

Tenant not permitted to make substantial alterations to premises even if alterations increase value of property.

Front 17

Tort liability of landlord and tenant

Tenant's Liability

Back 17

Tenant's liability: See torts

Front 18

Tenant's Duties and Landlord Remedies- Duty to pay Rent

If tenant vacates:

Back 18

Landlord may:
1) do nothing and tenant is still liable for rent
2) accept surrender.

Front 19

Landlord's Duties to Tenant (3)

Back 19

1) must deliver premises
2) quiet enjoyment
3) implied warranty of habitability
***Ny--disclaimer in lease void as a matter of public policy

Front 20

Assignment

Back 20

transfer the entire balance of lease

Front 21

Assignment

Back 21

Both original tenant and assignee are liable to landlord for rent.
1) Original tenant is in privity of K with landlord
2) Assignee is in privity of estate
3)NY- UNless express right given in lease, RESIDENTIAL tenant may not assign without landlord's written consent **in other words..landlord can unreasonably withhold consent and tenant's sole remedy is release from lease.

Front 22

Sublease

Back 22

incomplete transfer of balance of lease

Front 23

Sublease

Back 23

1) Only original tenant is liable to landlord for rent.
2) Subtenant is not in privity with landlord
3) Ny-Residential building (4 or more units)--consent to sublease cannot be unreasonably withheld. If consent is unreasonably withheld, deemed consent.

Front 24

Tort Liability of Landlord and tenant

Landlord's Liability

Back 24

Landlord's liability
1)Latent defect: knowledge and failure to disclose
2) Landlord contracts to repair
3) legal duty to repair

Front 25

Tort liability of landlord and tenant

Tenant's Liability

Back 25

Tenant's liability: See torts

Front 26

Fixtures:

(3 questions)

Back 26

1) has the chattel become incorporated into the structure?

2) If not incorporated, what was the annexor's intent?
a) Vendor purchaser?
b) Mortgagor-Mortgagee
c) Landlord-tenant
3) Third party Claims


3)

Front 27

Concurrent Estates

Tenancy by Entirety

Back 27

1) NY-Grant to husband and wife (unless expressly deemed otherwise)
2) Right of survivorship
3) Severance
a) Voluntary Partition
b) Conveyance signed by both parties
c) Divorce
4) NY-If spouse mortgages interest, purchaser takes as TIC, subject to remaining tenant's right of survivorship

Front 28

Concurrent Estates

Joint Tenancy

Back 28

1) Two or more co-tenants with rights of survivorship
2) Creation myst be express
3) Severance
a) Suit for partition
b) Inter vivos conveyance by one joint tenant
1) Exception: NY-follows LIEN THEORY of mortages; thus mortgage on interest of one JT does not sever tenancy

Front 29

Easement

Back 29

Right to use land of another

Front 30

Easement

Affirmative Easement

Back 30

Affirmative use of servient tenament

Front 31

Easements

Negative Easement

Back 31

Servient tenement refrains from engaging in activity

Front 32

Easement Appurtenant

Back 32

Two tracts of land
1) Rights attached to ownership of property.
a) grantee of dominant tenement receives easement automatically even if not mentioned in deed.
b) Grantee of servient tenement takes subject to easement unless grantee is BFP without notice.

Front 33

Easement in Gross

Back 33

1) Right separate from ownership of property. (eg. railroad, power company)

2) no dominant tenement.

Front 34

Creation of an Easement

Back 34

1) Express Grant
2) Express reservation by common owner
3) implication by existing use
4) implication by necessity
5) Prescription (10 yrs SOL)

Front 35

Tenancy in Common

Back 35

**

Front 36

Licenses

Back 36

1) a privilege to go on the land of another, revocable at will of licensor
2) Not assignable

Front 37

Profits

Back 37

1) A nonpossessory interest in land of another.

2) holder may enter upon servient tenement to remove products of his soil.

Front 38

Covenants Running with the land

Requirements for Burden to run:

Back 38

1) Intent
2) Notice
3) Vertical Privity
4) Horizontal Privity
5) Touch and concern

Front 39

Covenants Running with the land

Back 39

statute of frauds

Front 40

Equitable Servitude

Formation

Back 40

Implication from Common Scheme
1) Common Scheme
2) Notice
a) Actual
b) Inquiry
c) Record

Front 41

Equitable Servitude

Enforcement

Back 41

1) Intent
2) Notice
3) Touch and Concern
4) privity not required

Front 42

Adverse Possession

Running of statute/tolling

Back 42

Running of Statute
a) NY-10 years, if tenant in common-20 years
b) NY-Tolling of statute
*Plaintiff under disability may commence action within 3 years after disability ends.

Front 43

Adverse Possession

Elements

Back 43

1) Actual and exclusive
2) Open and notorious possession
3) Hostile
a) NY-- Under claim of right
b) NY de minimis non-structural encroachments (fences) are permissive and nonadverse.
4) Continuous

Front 44

Conveyancing

Statute of Frauds

Back 44

Part Performance

Front 45

Conveyancing

Equitable conversion

Back 45

1) NY-Uniform vendor and purchaser risk act
a) risk of loss on seller unless buyer has legal title or possession of the property at the time of the loss.
2) Executory contracts
a) NY- ademption does not apply

Front 46

Conveyancing:

Marketable Title

Back 46

1) no defects in chain of title
2) no encumbrances
a) NY-both visible and invisible easements affect marketability
3) Remedies if title not marketable
a) Rescission
b) Specific Performance
C) Damages
1) NY- If titel unmarketable due to no fault of seller, buyer may recover only purchase money paid, expenses of title report and nominal damages.

Front 47

Conveyancing:

Deeds

Back 47

1) Formalities
2) Delivery
a) intent
b) conditional delivery
c) to third party
3) Acceptance

Front 48

Conveyancing:

Covenants in Deeds

Back 48

1) General warranty deed
a. gives "usual covenants for title"
2) NY-Bargain and sale deed
a. grantor covenants that he did not create title defects.

3) Quitclaim deed:
a) grantor releases whatever interest grantor had
b) no covenants
4) Estoppel by deed

Front 49

Conveyancing:

Recording

Back 49

1) NY- race notice jurisdiction

2) Records act protects BFPs

3) Provides constructive notice.

Front 50

Mortgages: Security Interest in Land

Defenses and Discharge of the mortgage

Back 50

1) defenses to underlying obligation-failure of consideration, duress, mistake, fraud
2) discharge of the mortgage
a) Payment
b) Merger
c) deed in lieu of foreclosure

Front 51

Mortgages:

Redemption

Back 51

Any time prior to foreclosure owner may redeem.

Front 52

Mortgages

Foreclosure:

Back 52

*

Front 53

Mortgages:

Priorities

Back 53

*

Front 54

Mortgages:

Deficiency Judgment

Back 54

*

Front 55

Mortgages:

Transfer by Mortgagor and Mortgagee

Back 55

1) Mortgage follows transfer of note
2) Transfer by mortgagor.
a) "Subject to"
b) Assumption