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25 Cards in this Set
- Front
- Back
Freehold estates are LEFTS
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LE – Life Estates
FT – Fee Tails S – Fee Simple (SAD) |
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The 3 types of fee simple estates are SAD
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S – Fee Simple Subject to a Condition Subsequent or Precedent
- You’ll recognize these interests when they BOP you on the head o B – “But” o O – “On condition that” o P – “Provided A – Fee Simple Absolute D – Fee Simple Determinable - These interests can be recognized by SUD language o S – “So long as” o U – “Until” o D – “During” |
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Joint Tenancies are created in the PITT, and require unity of
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P – Possession
I – Interest T – Time T – Title |
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4-D’s defeats a tenancy by the entirety
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D – Death of one spouse automatically vests title in surviving spouse
D – If one spouse becomes a Debtor in bankruptcy, Fed law allows the trustee in bankruptcy to sell TE & divide proceeds (½ to trustee in bankruptcy & other ½ to non-bankrupt spouse). D – Dual transfer of TE, in which both H & W take part D – Divorce, annulment, or, in NY, a separation judgment |
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A RAW buyer will earn a broker a commission
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R – Ready
A – Able W – Willing |
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PIP may enforce an oral realty k
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P – Buyer who has Paid the purchase price, in whole or in part
I – Buyer making valuable Improvements on realty P – Buyer taking Possession |
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A donative transfer requires AID to the donee
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A – Acceptance by donee
I – Intent to make immediate gift D –Proper Delivery of signed & acknowledged deed |
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SEC FEW are in warranty deeds
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S – Covenant of Seisin.
E – Covenant against Encumbrances C – Covenant of the right to Convey F – Covenant of Further Assurances E – Covenant of Quiet Enjoyment W – Covenant of Warranty |
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The CIA gives notice to a real prop buyer
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C – Constructive Notice
I – Inquiry Notice A – Actual Notice |
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PINTS for real covenants, but TINS for equitable servitudes
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P – Privity of Estate
I – Intent by original contracting parties that covenant attach to land & run to future assignees (Horizontal Privity) N – CIA Notice of Restrictive Covenant T – Must Touch & Concern the land S – Must satisfy the SOF 'TINS' is PINTS withouth the element of privity of estate. |
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PINTS can come in CANS
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C – Imposed by Common Owner to protect lands retained
A – Covenants agreed to by Adjoining landowners/neighbors N – Imposed for the benefit of Neighboring Lands S – To carry out Common Plan or Scheme |
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Negative easements are limited to LAWS
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L – Light Easements
A – Easements of Air W – Easements regarding Water use S – Easements of Support |
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PIGS create easements
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P – Easements by Prescription
I – Easements by Implication (a.k.a., quasi-easements) G – Easements by Grant S – Easements by Strict Necessity |
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A COW partitions realty
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C – Court Decree
O – Oral Agreement between all (100%) of the co-tenants provided they all (100%) go into possession W – Signed Writing voluntarily partitioning property by exchange of deeds signed by all co-tenants |
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You get an implied easement if you find a CRAB
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C – Both dominant & servient estates were formerly held by a Common Owner
R – Use of an implied easement is Reasonably Necessary for reasonable use of the dominant estate A – Use of the easement was plainly & physically Apparent from reasonable inspection of the land (exception: implied easement for underground water pipes) B – Former use of the land subordinated one part of the land for the Benefit of another part |
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A CRAM will extinguish an easement
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A – Abandonment
C – Condemnation by state’s exercise of eminent domain R – Signed writing, Releasing the easement A – Adverse Possession of a servient estate in a hostile manner, preventing use of the easement *M – Merger by common ownership of all (100%) of dominant & servient estates, because one can’t possess an easement, covenant, or profit on her own property |
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A EUNUCH establishes adverse possession
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E – Exclusive Possession (not shared w/ owner)
U – Uninterrupted Possession N – Notorious & Open Possession, which would put the true owner on notice that a trespasser was possessing his land & he should bring an ejectment action. U – Owner was Under no disability (infancy or mental incompetency) when AP began! C – Continuous Actual Possession H – Hostile Possession |
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The hostility prong of AP is negated if, during 10 yr period, AP calls the owner OPA
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O – Offers to buy land from true owner
P – Asks Permission of true owner to use land A – Acknowledges title’s in owner |
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TIP a chattel, and it becomes a fixture
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T – Type of chattel that generally becomes part of real estate
I – Intent of person installing chattel (whether it was intended to be permanently installed, or the person intended to subsequently remove it). P – The parties’ relationship |
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In granting or denying an area variance, the court considers ACES2
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A – are there Alternatives available that don’t violate zoning law?
C – would the proposed variance alter the Character of the neighborhood? E – would it adversely affect the Environment? S – was the problem the owner is attempting to resolve Self-Created, or did he buy w/ notice of the problem, or create the problem & build w/o a permit? S – was the variance insubstantial or Substantial? |
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Courts will consider whether it’s reasonable to throw SPUD in the Water, based on
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S – Size of Waterway
P – Purpose for using water & resulting harm from that use U – Extent of Use (how much water will be used) D – Duration of use by property owner. |
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Even if a lease is silent on these topics, a
landlord HEARS these implied covenants |
H – Habitability
E – Quiet Enjoyment A – Assignability of the lease R – Good Repair (this covenant is made by commercial landlords) S – Minimal Security Precautions |
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The NY grantee is not personally liable on an assumed mortgage, unless the NY deed
to the buyer expressly contains these TIPS |
T – Time remaining on the mortgage
I – Interest rate P – Principal amount of debt assumed S – Signed by the grantee *Note - The MBE grantee of a deed that contains a mortgage assumption clause IS personally liable on the mortgage, even though the grantee did not sign the deed. |
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A landlord out-of-possession is liable in tort to the POLICE for injuries
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P – Where the property was leased for a Public Purpose, and LL failed to inspect and
repair dangerous conditions before turning over the land to tenant O – Arising Outside the premises, proximately caused by a dangerous condition on the premises, which LL should have known about when he turned over the land L – Caused by Latent defects that LL should have known about, where tenant has not had reasonable time to discover and repair that condition I – Where tenant’s Intended use created an unreasonable risk of harm to others, and LL was aware of this intended use C – Where LL has multiple leases in the same building, and the injury occurred in a Common passageway E – Where LL Expressly covenants to make repairs, and fails to do so, causing injury |
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• If there is any inconsistency in the metes and bounds system of describing property, priority is given in the order N-ABCDA
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• If there is any inconsistency in the metes and bounds system, priority is given in the order N-ABCDA
o Natural monument (trumps all) o Artificial monuments (manmade) o B adjent track/boundary o C: courses o D: distance o A: area (least precise) |