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20 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Fee Simple Determinable
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Fee interest based upon Duration
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Fee Simple Subject to Condition Subsequent
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Conditional language, condition that can terminate the estate
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Fee Simple Subject to Executory Limitation
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Conditional language that terminates the estate and passes to a third party
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Fee Tail
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only to lineal descendants in FL creates life estate
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Life Estate
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lasts the length of a measuring life
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Executive Interest
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cuts short grantee interest
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Remainder
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takes effect after the natural end of the original conveyance
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Claim of Right
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claiming land is mine regardless of who actually owns it
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Color of Title
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Adverse posessor enters property thinking they actually have good title to the property but really does not
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occupies a significant portion of the property, then can claim the entire parcel outlined in the flawed deed
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Rule Against Perpetuities
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if any conveyance can vest beyond 21 years from date of conveyance, it violates and is void
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Fee Simple subject to executory interest
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Durational language or conditional language
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leasehold
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exclusive possession, but not ownership
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Marketable title
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is implied in land sale K unless expressly stated otherwise in purchase and sale agreement
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Intent
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Present Intent is needed when considering conveyances of land and parol evidence will be admitted to prove or disprove
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interest in land
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virtually any type of interest in land may be recorded and protected by recording statute
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Burdening of land
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Courts generally do not like to enforce arrangements that burden land for indefinite periods of time
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servitudes
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Injunctive relief
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Covenants
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Money Damages
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equtible conversion
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risk of loss passes to the buyer
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Uniform Vendor and Purchaser Risk of Loss Act
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purchaser is deemed true owner of land and bears risk of loss as of the date of the closing or goes into possession of the land
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