Property

Front 1

Termination of JT

Back 1

S everence and Sale
P artition
A nd
M ortgages

Front 2

Lien theory of mortgages (JT)

Back 2

does NOT sever the JT

Front 3

Rights and Duties of Co-Tenants

Back 3

Possession
Adverse possession Improvements
Rent from co-tenant Carrying costs
Waste
Rent from third parties Repairs
Partition

Front 4

Periodic Tenancy - creation

Back 4

1) Express agreement
2) Implication
3) Operation of law

Front 5

Tenant Duty to Pay Rent - LL options

Back 5

S urrender
I gnore the abandonment (minority rule)
R e-let the premises (majority rule; mitigate damages)

Front 6

Landlord duties

Back 6

1) Deliver possession
2) Covenant of Quiet Enjoyment
3) Implied Warranty of habitability

Front 7

Implied Covenant of Quiet enjoyment

Back 7

Applies to both residential and commercial

Occurs with:
1) Actual Eviction
2) Construction Eviction
S ubstantial I nterference
N otice
G oodbye

Front 8

Implied warranty of habitability

Back 8

Only residential property (non-waivable)

Premises must be fit for basic human habitation

Front 9

Implied warranty of habitability: Tenant Remedies

Back 9

M ove Out
R epair and Deduct
R educe rent
R emain in possession

Front 10

Landlord Tort Liability

Back 10

Standard - buyer beware

Exception:
C ommon areas
L atent defect rule
A ssumption of repairs
P ublic use rule
S hort term lease

Front 11

Easements: Affirmative

Back 11

P rescription
I mplication
N ecessity
G rant

Front 12

Easements: Negative

Back 12

L and
A ir
S upport
S treamwater

Front 13

Easements - termination of

Back 13

E stoppel
N ecessity
D estruction

C ondemnation
R elease
A bandonment
M erger Doctrine
P rescription

Front 14

Covenants - burden side analysis

Back 14

W riting
I ntent
T ouch and concern the land
H orizontal (AND Vertical Privity)
N otice

Front 15

Covenants - benefited side analysis

Back 15

W riting
I ntent
T ouch and concern
V ertical privity

Front 16

Equitable Servitudes

Back 16

W riting
I ntent
T ouch and Concern
N otice
E quitable
S ervitude

Front 17

Implied Equitable Servitudes - requirements

Back 17

1) When selling began, developer had a general scheme or plan
2) D lotholder had NOTICE of promise

Front 18

Notice - Types of (covenants and equitable servitudes)

Back 18

A ctual (direct knowledge)
I nquiry (neighborhood looks like conforms to something)
R ecord (prior deed in grantee's chain or title)

Front 19

Equitable Defenses

Back 19

1) Unclean hands (also violating the restriction)
2) Estoppel (think it was abandoned)
3) Changed conditions

Front 20

Land Contract - requirements

Back 20

1) Meet statute of frauds
2) Doctrine of equitable conversion (risk of loss shifts at K time)
3) Implied promises:
- Marketable Title - promised by seller at closing
- No false statements of material fact

Front 21

Marketable title (definition and defects)

Back 21

Title reasonably free from doubt

1) Defects in chain in title:
- Adverse possession
- Future interests held by unborn or unascertainable parties

2) Encumbrances - like mortgages, liens, restrictive covenants, and easements will render title unmarketable

3) Zoning restriction

4) Time of marketability

Front 22

Seller Liability for Defective Property

Back 22

Warranty of Fitness or Quality - New Construction Only

Sale of Existing Land and Buildings - Liabilty for defects if
1) Misrepresentation (fraud)
2) Active Concealment
3) Failure to disclose (if he knows, or has reason to know, or serious problem)

Front 23

Deeds - effective transfer

Back 23

L awful
E xecution of a deed

A nd
D elivery

Front 24

Deeds: Formalities

Back 24

A deed must be in WRITING, be SIGNED by GRANTOR, and reasonably IDENTIFY the PARTIES and the LAND

Front 25

Deeds: Delivery

Back 25

NOTE: Title passes upon delivery (acceptance presumed in most cases)

1) Physical transfer - hand it to him; mail; agent; messenger
2) Legal transfer - present intent to be delivered

Front 26

Covenants for Title: 3 types of deeds

Back 26

1. Covenants in General Warranty
2. Statutory Special Warranty Deed
3. Quitclaim Deeds

Front 27

Covenants in General Warranty

Back 27

1. Seisin (has the estate she purports to convey)
2. Right to convey (has title)
3. Against encumbrances (like mortgages or encroachments)
4. Quiet enjoyment (grantee not be disturbed by 3rd party lawful claim of title)
5. Warranty (defend against reasonable claims of title)
6. Further assurances

Front 28

Statutory special warranty

Back 28

Two limited assurances:
1) grantor has not conveyed the same estate or any interests therin to anyone other than grantor
2) that the estate is free from encumbrances made by the grantor

Front 29

Quitclaim Deeds

Back 29

no covenants of title are included or implied

Front 30

Recording Acts - purpose

Back 30

To protect BFP from SECRET interests previously created and provide a mechanism for "earlier" grantees to give notice through recordation

Front 31

Notice Statutes

Back 31

subsequent BFP prevails over a prior grantee who failed to record

Front 32

Race Notice Statutes

Back 32

Subsequent BFP only protected if she takes without notice AND records before the prior grantee

Front 33

BFP - types of notice

Back 33

1) Actual notice - includes knowledge obtained from any source (like newspaper and word-of-mouth)
2) Inquiry
3) Record notice - chain of title
- Wild deeds - not connected to chain of title, so no constructive notice
- Shelter rule - one who takes from BFP stands in his shoes

Front 34

Foreclosure: Redemption

Back 34

Redemption in Equity - at any time prior to the foreclosure sale, mortgagor may redeem the property by paying the amount due

Statutory redemption - half of states allow mortgagor to redeem property for fixed period after the foreclosure sale has occurred