Real Estate Law Prelim1

Front 1

Freehold Interest

Back 1

Ownership; Have seizn

Front 2

Non-Freehold Interest

Back 2

Lease/Rental Agreements

Front 3

Types of Freehold Interest

Back 3

1. Fee Simple Absolute
2. Life Estate
3. Defeasible Fees

Front 4

Fee Simple Absolute

Back 4

The property is feely alienable, and of perpetual duration.

Front 5

Life Estate

Back 5

Ownership for life. Upon death the property is transferred.
- "to A for life, then to B"
- "to A for life of B"

Front 6

Defeasible Fees

Back 6

- Fee Simple Determinable (Automatic Reversion)
- Fee Simple Subject to a Condition Subsequent

Front 7

Fee Simple Determinable (Automatic Reversion)

Back 7

"to A so long as,...until"

Front 8

Fee Simple Subjet to a Condition Subsequent (must take an action)

Back 8

"to A on the condition that...provided that"

Front 9

Substance matters more than form

Back 9

Meaning the conditions and intentions are of critical value.

Front 10

Forms of Ownership

Back 10

1. Tenancy in Commons (TIC)
2. Joint Tenancy
3. Tenancy by the Entirety

Front 11

Tenants-in-Common

Back 11

Distinct, undivided interest. Each tenant has the right to use the whole property.
"by the part, not by the whole."

Front 12

Joint Tenancy

Back 12

Same as tenancy in common except for the matter of survivorship.

Front 13

What are the ways in which a Joint Tenant is severed?

Back 13

1. Sale by the Joint Tenant
2. Execution by a Creditor
3. Conveyance of a Mortgage Interest

Front 14

Tenancy by the Entirety

Back 14

1. Title:has to come from same grantor
2. Interest:
3. Time: has to be transferred at same time
4. Possession
5. Person

Front 15

What is discretionary expenses?

Back 15

Expenses not necessary to maintain title of property

Front 16

Adverse Possession

Back 16

Must meet the following statutory requirements to be successful in an adverse possession case (HELUVA):
H Hostility – Did the person act in hostility toward the contest of land
E Exclusive – treat the land like a true owner would.
L Last for the statutory period (20 years at common law)
U Uninterrupted – the time period of possession has to be continuous.
V Visible – open and notorious: meaning the occupier was not intentionally hiding his intentions.
A Actuality – Is your claim or real property actually attached to the property?

Front 17

In determing time for statutory periods, what is Tacking?

Back 17

Tacking: When the necessary statutory time of uninterrupted use is by two or more people. The two conditions required to meet this defense are:
1. Privity –Family or Contractual relationship
2. Continuous – Has to be within a “reasonable” time
a. What are the reasons for non-continuous use?

Front 18

Easement

Back 18

Right to use land of another. It is an interest in land, but not ownership.

Front 19

Types of easements

Back 19

Appurtenant
o One parcel is dominant, and one parcel is servient.
o Perpetual – no time limitation.
o “Run with the Land” – is transferable with the land.

In Gross:
No dominant estate.

Front 20

Type of Actions for Easements:

Back 20

Affirmative – Authorizes an action

Negative - Restricts an act. Restricts B on B’s property

A has waterfront property, but sells the waterfront part of the property to B. An affirmative easement allows A to access the water via B’s property and a negative easement states that B may not build more than one story high.
Zoning is public law and easements are private law

Front 21

What is an interest in land without written permission?

Back 21

A license, not an easement. A license can be revoked anytime. An easement is perpetual.

Front 22

What are the 4 ways in which an easement can be made legal?

Back 22

1. Express
2. Implied
3. Prescriptive
4. Strict Necessity

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Express Easement:

Back 23

1. Express ( grant or reservation) This is the way an easement should be created.
a) Formalities are required. It must be in writing and it must be signed.
b) If it is not put in writing and signed it is a license not easement and it is can be revoked at any time
• Grant. A and B own property and A grants B the right to access
• Reservation: A subdivides a lot, but retains the right of access.

Front 24

Implied Easement

Back 24

2. Implied – There can be an implied easement if
a) The use is reasonably continuous
b) There is prior use
c) Reasonably apparent – it does not have to be visible to be apparent
d) Reasonably necessary

Front 25

Prescriptive Easement

Back 25

• Functionally the same as adverse possession except for easements. In prescriptive easements, however, exclusivity is not necessary.
• Hostility can be established so long as the person in question is treating the land as if they had the right to use it.
• This can be used to create an easement or destroy one. (offensive or defensive

Front 26

Strict Necessity

Back 26

i. Parcels without access to a public way may have an easement of access over adjacent land, if crossing that land is absolutely necessary to reach the landlocked parcel.
1. Must establish unity of title
a. The land must have been one piece at some point in time
2. Necessity to cross easement when the lots were severed.

Front 27

What are the 5 ways in which an easement can be terminated?

Back 27

1. Merger
2. Release
3. Abandonment
4. Prescription
5. Estoppels

Front 28

Merger Termination

Back 28

When two properties merger, an easement is merged out of existence.

Front 29

Release Termination

Back 29

Like any other transfer of property, a release must be in writing, in accordance with Statute of Frauds.

Front 30

Prescription Release

Back 30

If you block somebody's easement for the statutory period; similar to adverse possession, except exclusivity is not required.

a. Hostile
b. Lasts for the statutory period
c. Uninterrupted
d. Visible- open and notorious
e. Actual

Front 31

Abandonment Release

Back 31

Actions that signify a permanent intention to abandon the use of the easement.

Front 32

For an easement, what is the difference between Express Grant and Express Reservation?

Back 32

Express Grant: Where A receieved the right from B as separate owners.

Express Reservation: Where A sold the property to B and reserved the right to easement after transfer of title.

Front 33

Estoppels Easement

Back 33

Estoppel is a broad legal doctrine, not specific to real estate.

Words or actions by A, and B reasonably relies on A's statements, and by doin so changes B's financial position, then it is not fair for A to switch to another position.

Front 34

What three factors must all exist an an Estoppel Easement?

Back 34

1. Word/Motions/or Actions by A
2. Reasonable relianec by B
3. B changes financial position.

Front 35

What are the 3 different types of liens?

Back 35

1. Statutory
2. Voluntary
3. Involuntary

Front 36

What are some examples of Statutory liens?

Back 36

Tax liens
Mechanics Lien

Front 37

What are some examples of Involuntary Liens?

Back 37

Judgment liens determined by courts.
Attachments: preresolution of law suit.

Front 38

What are some examples of Voluntary liens?

Back 38

Mortgage Liens

Front 39

What is the position, for the sake of our class, for lien rights?

Back 39

"First in line, First in right"

Front 40

What are 5 securities a lender may from a borrower?

Back 40

1. Mortgage
2. Personal Guarantee
3. Security interests in personal property
4. Assignments of rents and leases
5. Insurance

Front 41

What is a Covenant of Quiet Enjoyment?

Back 41

Property Law: The landlord can not interfere with the tenant’s use of the property. This is implied in the contract and does not have to be explicitly stated. If the landlord interferes with the use the tenant can withhold the rent.

Front 42

What is a Warranty of Habitability?

Back 42

Statutory Law: Does the property meet a legal standard for human habitation? Items might include:
• Heat
• Electricity
• Sanitation
• Security
• Water

Front 43

What are the 4 different lease types?

Back 43

1. Tenancy for Years
2. Periodic Tenancy
3. Tenancy at Will
4. Tenancy at Sufference

Front 44

Tenancy for Years

Back 44

Fixed term
No motion required to terminate
Subject to Statute of Frauds

Front 45

Periodic Tenancy

Back 45

"month-to-month"
Requires notice to terminate, theoretically it can last forever. Either party can terminate tenancy with written notice.
One period in advance. A period is defined usually in the lenght of the term. 1 year lease = month to month. 15 year lease = year to year

Front 46

Tenancy at Will

Back 46

No term required, no notice required

Front 47

Tenancy at Sufferance

Back 47

Little difference between trespasser and Tenant at Sufferance.

Usually in the case of a holdover tenant.

Landlord has two options
1. Accept Rent, holdover turns to periodic tenancy
2. Evict