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25 Cards in this Set

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What result if an owner of real property fails to take legal action within the statutory period to eject a possessor who claims adversely to the owner?
If an owner of real property fails to take legal action within the statutory period to eject a possessor who claims adversely to the owner, title to the property vests in the possessor, and the owner is barred from suing for ejectment.
What are the four elements of adverse possession?
Adverse possession must be (1) open and notorious; (2)actual and exclusive ; and (3)be continuous throughout the statutory period. Finally, (4) the possessor must occupy the property and enter without the owner's permission. The possessor need not believe that he has a right to possession.
Define reversion and list its characteristics.
A reversion is the estate left in a grantor who conveys less than she owns (e.g., A conveys "to B for life"; A has a reversion). It arises by operation of law; it does not have to be expressly reserved. A reversion is alienable, devisable, and inheritable. Its holder can sue for waste and for tortious damage to the reversionary interest. All reversionary interests are vested and, thus, not subject to the Rule Against Perpetuities.
Define remainder and list its characterists.
A remainder is a future interest in a third person that can become possessory on the natural expiration of the preceding estate. It cannot divest a prior estate, and it cannot follow a time gap after the preceding estate. A remainder must be expressly created in the instrument creating the preceding possessory estate.
What is the Rule Against Perpituities?
Pursuant to the Rule Against Perpetuities, no interest in property is valid unless it must vest, if at all, not later than 21 years after one or more lives in being at the creation of the interest. The validity of an interest under the Rule is determined at the time the interest is created, taking into account the facts then existing.
What are a life tenants duties in regards to maintaining / changing the property hr holds?
A life tenant has a duty not to change the premises in a way that the holders of subsequent estates have a reasonable ground to object to. Any changes or alterations could constitute a reasonable ground for objection unless changed neighborhood conditions deprive the land in its current form of reasonable productivity or usefulness.
To what extent is the life tenant required to preserve the land and structures on the proerty he holds?
Although it is true that a life tenant is obliged to preserve the land and structures in a reasonable state of repair and to pay ordinary taxes, he is obligated only to the extent of rents and profits (or fair rental value if the life tenant occupies the property).not be compelled to pay for the repairs or taxes. Furthermore, a life tenant is not required to make repairs that were necessary at the time the property passed to him
What is the effect of an inter vivos conveyance by one joint tenant of his undivided joint tenancy?
An inter vivos conveyance by one joint tenant of his undivided interest severs the joint tenancy, so that the transferee takes the interest as a tenant in common and not as a joint tenant
What is a joint tenancy's distinguishing feature?
A joint tenancy's distinguishing feature is the right of survivorship. When one joint tenant dies, the property is freed from her concurrent interest (her survivors do not succeed to it).
What is the effect of an inter vivos conveyance by one joint tenant of his undivided joint tenancy?
An inter vivos conveyance by one joint tenant of his undivided interest severs the joint tenancy, so that the transferee takes the interest as a tenant in common and not as a joint tenant
What is the effect of joint tenancy on a right of survidorship?
A joint tenancy carries with it a right of survivorship, whereby the death of one joint tenant frees the property from his concurrent interest, so that the surviving joint tenant retains an undivided right in the property that is no longer subject to the interest of the decedent.
What automatically occurs when a joint tenant conveys his interest?
When a joint tenant conveys his interest, it automatically becomes a tenancy in common interest. This is because the unity of time (one of the four unities required for creation of a joint tenancy) is lacking. To be joint tenants, the interests of the co-tenants must vest at the same time.
What effect does an existing violation of a zoning ordinace have on teh marketability of a title?
Generally, zoning restrictions do not affect the marketability of title, but an existing violation of a zoning ordinance does render title unmarketable.
Does the violation of subdivision, housing, or building codes consititute an encumbrance on title?
It is generally held that the violation of subdivision, housing, or building codes does not constitute an encumbrance on title. Zoning is treated differently.
In an escrow transaction, when does the title usually pass to the grantee?
Generally, in an escrow transaction, title does not pass to the grantee until performance of the specified conditions (e.g., the payment of money). There is a valid conditional delivery of the deed placed in escrow, and title will transfer automatically upon the occurrence of the condition.
What implie warranty exists in every land sale contract?
There is an implied warranty in every land sale contract that at closing the seller will provide the buyer with title that is marketable. It need not be perfect title, but it must be free from questions that might present an unreasonable risk of litigation.
Generally, can government land be obtained through adverse possession?
Government land, unless there is an explicit statute that states otherwise, generally cannot be obtained through adverse possession.
Define: Estopel By Deed
If the grantor purports to convey an estate in property that she does not then own, her subsequent acquisition of the estate will inure to the benefit of the grantee. This doctrine applies where the conveyance was by warranty deed, or where the deed purported to convey a particular estate. It is not usually applicable to quitclaim deeds.
Define: Doctrine of Merger
Under the doctrine of merger, the contract merges into the deed, and the terms of the contract are meaningless. Even though the contract specified a "good and marketable title," it is the deed that controls, and the deed contained no covenants of title. A deed does not incorporate the title terms of a contract.
What is a license?
A license is a privilege to enter upon another's property. It may be revoked at any time merely by a manifestation of the licensor's intent to end it
What is an equitable Servitude?
An equitable servitude is a covenant that, regardless of whether it runs with the land at law, equity will enforce against the assignees of the burdened land who have notice of the covenant. The usual remedy is an injunction. Requirements for Burden to Run
A successor of the promisor is bound if:
a. The covenanting parties intended that the servitude be enforceable by and against assignees;
b. The successor of the promisor has actual, inquiry, or record notice of the servitude; and
c. The covenant touches and concerns the land (i.e., it restricts the holder of the servient estate in his use of that parcel).
Does a co-tenant have a duty to improve the shared property?
A co-tenant has no duty to improve the property and cannot force the other co-tenants to contribute to the cost of improvements made by him.
What is a tenancy by the entirety?
Tenancy by the entirety can exist only between a legally married husband and wife.
What is a tenany in common?
A tenancy in common is a concurrent estate with no right of survivorship. Tenants can hold different interests in the property, but each is entitled to possession of the whole. Interests are alienable, devisable, and inheritable. Today, multiple grantees are presumed to take as tenants in common, not as joint tenants.
What is a joint tenancy?
A joint tenancy's distinguishing feature is the right of survivorship. When one joint tenant dies, the property is freed from her concurrent interest (her survivors do not succeed to it).