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23 Cards in this Set

  • Front
  • Back
In NY what is a fee simple determinable called?
fee on limitation
In Ny a Fee simple on condition subsequent is called a...
fee on condition
Ameliorative waste distinction
Can make reasonable improvements unless the future interest holders object
In NY a future interest in a transferee subject to a condition subsequent is called a...
remainder subject to condition precedent.
Rule in shelly's case
Rule of destructibility
both abolished in NY
Doctrine of worthier title
abolished in NY
Vested remainder subject to complete defeasance/ vested remiander subject to total divestment
Remainder vested subject to complete defeasance
In NY executory interest and contingent remainders are...
the same, the distinction has been abolished and they are both called remainders subject to a condition precedent
NY RAP Reform Statute
has wait and see and cy pres for charitable trust and powers of appointment.
For everything else reduces age contingencies to 21.
Fertile octogenarian limited to 55, applies RAP time period to the suspension rule.
Do you still need a straw for unities for a joint tenancy in NY?
No, straw no longer necessary, can convey directly to yourself and another party as joint tenants.
NY lien or title theory?
Lien theory
NY recognition of tenancy by the entirety?
Yes.
Tenancy by the entirety in NY and mortgages
In NY one spouse may mortgage his interest and creditors may enforce against that interest, but only as to the debtor spouse's share. Non debtors spouse's rights must not be compromised.
NY the L who elects to holdover a T creates an...
implied month to month periodic tenancy unless otherwise agreed.
For tenancy at will NY requires how much notification?
minimum of 30 days written notice
for a tenancy at sufferance in NY L's acceptance of rent subsequent to the expiration of the term will create an...
implied month to month periodic tenancy unless otherwise agreed
If premises destroyed through no fault of T? (and no express undertaking by T to restore in event of their destruction?)
T may quit premises and surrender possession without any further duty to pay rent.
Self help in NY?
Results in treble damages for T.
duty to mitigate when T abandons?
In NY generally no.
NY assignments v. subleases?
not assign without L's written consent, L may withhold consent for any reason. Right to sublease though cannot be unreasonably withheld.
ROL buyer or seller in NY?
ROL remains with seller until buyer takes possession or title (assuming B is without fault)
NY special warranty deed called a...
bargain and sale deed
NY is what sort of recording jurisdiction?
Race Notice