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9 Cards in this Set

  • Front
  • Back
Possession before Foreclosure
Lien state: Cannot take possession
Title state: M'EE entitled to possess upon demand at any time
* Usually M'EE uses receivership to avoid liability of possession (strict duty account for rents, manage carefully, tort liab)
Redemption in Equity
* any time PRIOR TO FC SALE (all states)
1. M'OR has right to free land from mtg if pay off amount due + interest
2. If acceleration clause, must pay full balance.
3. M'OR cannot waive rightto redeem in mtg "clogging equity of redemption"
Statutory Redemption
(only 1/2 of states)
1. M'OR (maybe jr lienors) can redeem during fixed period (6mo-1yr) AFTER FC sale.
2. Pay FC sale price, rather than amount of original debt
Unmarketable Title & Zoning
1. Zoning restrictions do not affect m'ibility
2. EXISTING violation of zoning ordinance does
Nuisance (4 types)
sic utere tuo ut alienum non laedas
1. Public – interference with rights of public
2. Private – invasion of private interest in land
3. Nuisance per se – nuisance in itself (whorehouse)
4. Nuisance per accidens – nuisance b/c of circumstances, use in area or zoning
Ways to Extinguish Tenant's Duty to Pay Rent
1. Surrender
2. Constructive Eviction (must vacate)
3. Release
4. Eminent Domain
5. Expired (term of lease)
6. Merger (T buys FSA)
7. Frustration of Purpose
Elements to transfer title by Adverse Possession
Continuous, open, notorious, hostile, exclusive
Variations of AP
1) Portion of prop if AP satisfies elements for a portion, AP will get title only to that portion.
2) Constructive AP: If written instrument (usually fraudulent or forged deed) and other elements satisfied entire area can be titled to AP.
* Mistaken Boundary Rule: possession of property under mistake of location of boundary line can be AP if other elements present.
* Disability: disability gives you 5 years to bring action after DB removed. DB must be in effect when entry takes place. can’t tack disabilities together, i.e. minority and insanity
Joint-tenancy (J/T)
Right of survivorship
Identical fractions of interest = equal split

Termination of j/t
Conveyance will destroy j/t
# of j/t will
Lease - split rule
Mortgage - title state destroys j/t - lien state