Property 1L

Front 1

Sub-Lease

Back 1

A Lease between the original Lessor (Sub-landlord) and a new Tenant (Subtenant) where no contract relationship exist between the original Landlord and the new Tenant (Subtenant)

Front 2

Assignment

Back 2

A Lease when the New Tenant steps into the Lease of of the old tenant creating a relationship between the Landlord and New Tenant

Front 3

What happens to a sub-lease if the master lease terminates

Back 3

The Sub-lease terminates as well unless

1. Landlord signed Non-disturbance Agreement

2. Lease terminates by voluntary surrender by master tenant

Front 4

Common Law approach to distinguish between Sub-Lease and Assignment (Bright Line Rule)

(Most Common)

Back 4

*Assignment: conveys the whole term of the original tenant;s interest

*Sub-lease: tenant grants an interest less that his own or retains reversionary interest

Front 5

Modern Rule for Distinguishing between Assignment and Sublease (Not Common)

Back 5

* Look at parties INTENT

*Use of terminology is not "conclusive"

ie. terms Sublease, assignment still use intent.

* No Bright Line rule about retention of reversionary interest

Front 6

Marital Property Approaches

Group 1 (gender biased rules)

Back 6

- Husband can convey exclusive right to possess entire estate (wife keeps right of survivorship)

-only in one state may creditors of husband alone reach the property

Front 7

Marital Property Approaches

Group 2

Back 7

- Creditors may seize entireties property to satisfy ONE spouse's debts, subject to other spouses right of survivorship

-So, a creditor could seize the debtors spouse's 1/2 share during life, but creditor would lose interest upon death of debtor.

Front 8

Martial Property Approaches

Group 3

Back 8

-Neither spouse can convey property w/o consent of other.

-creditors may not levy upon the estate at all for separate debts of one spouse

Front 9

Marital Property Approaches

Group 4

Back 9

-Spouse can convey his right of survivorship

-but NO spouse can convey his rights of possession during life

-Thus right of suvivorship is reachable by creditors pf one spouse, but no other interest

-

So creditors must wait till death of debtor to gain all.

Front 10

HawaII's View of Martial Property

Back 10

* Spouses do not have individual shares.

-Spouses do not have separate divisible interest

- Marital Unit rights

=ownership can convey only by dual consent.

Creditor of one spouse may NOT reach entireties property

Front 11

Non-Freehold Estates

4 types

Back 11

- Term of years

- Periodic tenancy

- Tenancy at will

- Tenancy at sufference

Front 12

Tenancy at Sufferance

Back 12

*Arises when a tenant holds over

-Landlord options

- Hold the tenant to a new Tenancy (can be implied)

- Evict the tenant

Front 13

If a Landlord accepts Rent from a Holdover tenant does it create a new tenancy?

Back 13

Yes,

Type - depends on jurisdiction but most is periodic tenancy baised on prior lease

others - Term of years

Front 14

Rules for a Lease

Back 14

Must be in writing if term is a year or more

It is a contract or a conveyance?

-Historically a conveyance

- Modern a contract

Front 15

Which is better for a Landlord

The Lease to be a conveyance or a contract?

Back 15

Conveyance, because had few implied obligations to landlord.

Front 16

English Rule for Leaseing

Back 16

*A person would not knowing contract for a lawsuit, so Landlord must give ACTUAL Possession at time of Lease

Front 17

American Rule for Leasing

Back 17

*Landlord must provided possession, but not actual, tenant would need to evict holdovers

Front 18

What is the general rule for what a co-tenant in possession is liable to the other co-tenants for rent?

Back 18

-No obligation to pay unless the occupying co-tenant has OUSTED the other co-tenant

Front 19

OUSTER

Back 19

When the occupying Co-Tenant refusing the Non-occupying Co-Tenant the right of possession.

Front 20

Is a demand to "vacate or pay rent" a form of ouster?

Back 20

No, the co-tenant must demand possession not rent.

Front 21

Estoppel

Back 21

A bar that prevents one from asserting a claim or right that contradicts what he has said or done before.

Front 22

Statutory Estoppel

Back 22

?

Front 23

Equitable Esstoppel

Back 23

sometimes known as estoppel in pais, protects one party from being harmed by another party's voluntary conduct. Voluntary conduct may be an action, silence, Acquiescence, or concealment of material facts.

Front 24

UCC 2-403 (1)

Back 24

A purchaser of goods acquires all title which his transferor had or had power to transfer...

Front 25

UCC 2-403(2)

Statutory Estoppel

Back 25

Any entusting of possession of goods to a merchant who deal in goods of that kind gives him power to transfer all rights of the entruster to a buyer in the ordinary course of business.

Front 26

UCC 1-201(9)

Back 26

...Person that buys goods in good faith, without knowledge that the sale violates the rights of another person in the goods, and in ordinary course from a person....in the business of selling goods of the kind.

Front 27

UCC 2-403(3)

Entrustment

Back 27

Entrusting includes any delivery and any acquiescence in retention of possession regardless of any condition expressed between parties....[even if under larcenous circumstances].

Front 28

UCC 1-201(20)

Good Faith

Back 28

Honesty in fact and observance of reasonable commercial standards of fair dealing

Front 29

UCC 2-403(2)

Elements of Statutory Estoppel

Back 29

Front 30

What is an estate?

Back 30

An interest in land that gives the owner the right to possess the land

Front 31

Estates that constitute a right to possess NOW are called?

Back 31

-Possessory estates

-present estates

Front 32

Estates that constitute a right to possess in the future are call?

Back 32

Future interest (future estates)

Front 33

An estate is generally created by?

Back 33

A conveyance also known as a Grant.

Front 34

Examples of a conveyance or grant

Back 34

Gift

Sale

Testamentary conveyance (will)

Front 35

Intestate succession

Back 35

transfer of property to an heir after they die without a will

Front 36

Devise?

Back 36

a gift of real property made in a will.

To make a gift of real property through a will

Front 37

Devisee

Back 37

One who receives real property by way of a will

Front 38

Heir

Back 38

One who takes through the laws of intestate succession

can only be a heir after the owners death with out a will

Front 39

Fee Simple Absolute

Back 39

Full ownership no one else has any rights can be divided into smaller estates.

Potentially infinite duration, passes on to heirs or devisee's if not sold.

No restrictions, freely alienable

Front 40

Fee Simple Determinable

Back 40

A defeasable fee

That terminates automatically biased on a stated event.

right of possession reverts tot he grantor

The grantors future interest is called Possibility of Revertor

Front 41

Fee Simple Determinable Key words

Back 41

So long as

While used as

Until such time as

During the time

Front 42

Fee Simple Subject to a Condition Subsequent

(FSSCS)

Back 42

Upon the occurrence of a stated event the grantor has right to retake property

Does not automatically happen

Grantor must assert his right to retake though courts

Right of entry or power of termination

Front 43

Key words to identifying FSSCS

Back 43

but if

on condition that

provided that

provided that if

however

Front 44

Fee Simple Subject to an Executory Limitation

Back 44

Upon an occurrence of some condition or violation of a condition, the future interest is in a third party not the grantor,

Front 45

Life Estate

Back 45

A lessor estate devised from a Fee estate where the possession is given for the life of the possessor

Front 46

Reversion

Back 46

Future interest retained by the grantor following the expiration of a lessor estate

Front 47

remainder

Back 47

a future interest in someone other than the grantor that follows the expiration of any lessor estate

Front 48

Non-Free hold Estates

Back 48

Tenancies, as in landlord-tenant

Non-freehold estates convey by lease rather than by deed

Front 49

3 Types of Remainders

Back 49

- indefeasibly vested remainder

- vested remainder subject to defeasance

-contingent remainder

Front 50

Indefeasibly Vested Remainder

Back 50

a remainder given to some one who is 1. born 2 ascertainable, and 3. as to which there are neither unmet express preconditions a party must must meet to receive it or keep it.

Front 51

Contingent Remainder

Back 51

A remainder (1) given to someone who is unborn

(2) given to someone who is not ascertainable or

(3) which can only become possessory upon satisfaction of an unmet express condition

Front 52

Vested Remainder Subject to Defeasance

Back 52

a remainder, where no conditions to the recipient's taking, but as to which there are express conditions for keeping.

look for conditions expressed in terms of the holder's losing a interest that has vested

Front 53

Destructibility of Contingent Remainders

Back 53

if the preceding estate expires and the condition precedent for the contingent remainder has not occurred, the remainder is destroyed.

Front 54

What are the four Common Law Rules Furthering Marketability

Back 54

The Doctrine of Merger

The Doctrine of Worthier Title

The Rule in Shelley's Case

The Common Law Rule Against Perpetuities

Front 55

The Doctrine of Merger

Back 55

Whenever successive Vested estates are owned by the same person, the smaller of the two estates is absorbed by the larger

Front 56

The Doctrine of Worthier Title

Back 56

When the grantor makes an inter vivos conveyance of real property to one person and at the same time attempts to create a future interest in the grantor's own heirs, the future interest in the heirs is void and the grantor takes a future interest instead.

Front 57

Inter vivos

Back 57

a transfer of property by agreement between living persons and not by a gift through a will

Front 58

The Rule in Shelley's Case

Back 58

If a life estate is given to one person and a remainder is given to that persons's heir in the same instrument, the remainder actually goes to the life tenant

O to A for Life, the to A's heirs =

O to A for Life, then to A creates FSA in A

Front 59

Common Law Rule Against Perpetuities

(Purpose)

Back 59

Front 60

What are the Advantages of RAP

(Rule Against Perpetuties)

Back 60

*Balances desire of current owner to determine what will happen to his property in the future against desire of eventual holders to be free from "dead hand" control

Increases control by living, who are better position to determine how property can be used.

Front 61

Rule Against Perpetuities

RAP

Back 61

No interest is good unless it must vest, if at all, not later than 21 years after some life in being at the creation of the interest.

Front 62

RAP does not apply to what future interest?

Back 62

-Reversion

Right of reentry/power of termination

possibly of reverter

Front 63

Acquisition of Property rights by Capture

(fox case aka Pierson v. Post)

Back 63

Pierson v. Post: The pursuer manifest an unequivocal intention of appropriating the animal to his individual use, has deprived it of its natural liberty and brought it within certain control

Front 64

Acquisition of Property right by Capture

(Whale aka Ghen v. Rich)

Back 64

Ghen v. Rich: a common practice for wild animals is that when a hunter has done all that is practical in order to secure the animal, it becomes his property because of sufficient control.

Local common usage and custompPractices acceptable means for certain control

Front 65

Chimney Sweep Rule

Finders Law

Back 65

Finding and possession of the property, gives the finder title over all but the true owner

Front 66

Finder Law Unattached and Attached Property

Back 66

found property not attached or not embedded goes to the finder, not possessor of the land.

Front 67

Finder Law Embedded Property

Back 67

Embedded Property goes to the owner of the property the item was embedded.

Front 68

Serving as an Agent

Finder Law

Back 68

While acting as an agent and property is found, the property goes to the master.

Front 69

Abandoned Property

Back 69

The true owner no longer wants to possess the property and give up all right to the property

Better title to the finder against the entire world to include against true owner

Front 70

Lost Property

Back 70

Property that the owner has unintentionally and involuntarily parted with and does not know where it is.

Finder has better title to entire world except to true owner.

Front 71

Mislaid Property

Back 71

Property mislaid is voluntarily placed in a certain location by the owner and then forgotten about.

Property goes to Property owner, who has better title to all but true owner.

Front 72

Treasure Tove

Back 72

Property that have been concealed for a great length of time that the true owner is not ascertainable.

Finder has better title against whole world except true owner.

Front 73

Conversion

Back 73

One's wrongful possession or disposition of another;s property as if it were ones own.

Front 74

Adverse Possession

Back 74

One acquires title by adverse possession by maintaining the property that is held with hostility, continuously, actually, open and notoriously, exclusively, and for the required statutory period.

Front 75

H-CANOE

Back 75

Elements of Adverse Possession

Hostile

Continuous

Actual

Open and notorious

Exclusive

Front 76

Hostile

AP

Back 76

1. Claimant is not claiming title under record owners title (not with owners permission), and

2. possession occurs with requisite mental state

Front 77

Connecticut Rule

AP Hostile

Back 77

Objective theory

Mental state irrelevant, just that you are using the property for valid purpose.

Front 78

Maine Rule

AP Hostile

Back 78

Subjective Rule

also Know as Aggressive Trespasser

Must know property not yours and you have intent on taking property

Front 79

Good Faith Standard

AP Hostile

Back 79

The possessor must think that they owned the property.

Front 80

Continuous

AP

Back 80

The claimant must possess the land w/o significant interruption and must be as continuous as that of the true owner.

Front 81

Actual

AP

Back 81

Must actually be using property as a true owner wold.

Front 82

Tacking

AP

Back 82

The ability to add a prior possessor time toward the statue of limitations provided that the transfer was in writing and was not taken by force.

Front 83

Open and Notorious

AP

Back 83

Actsof possession are deemed sufficiently open and notorious if they are conductedin a manner which would put a person of ordinary prudence on notice of theclaim

Front 84

Exclusive

AP

Back 84

Exercise dominion and control like a true owner would be Excluding others as much as a true owner would.

Front 85

Adverse Possession of Chattel approaches

Back 85

1. H-CANOE - Majority

2. Demand and Refusal - Minority

3. Discovery Rule

Front 86

Demand and Refusal

AP of Chattel

Back 86

the clock starts to run when the true owneractually demands return of the item and the possessor refuses to return it.Implicit in this is the idea that the true owner must, of course, discover whohas the chattel before a demand can be made. Which means that the clock willnever start to run until the chattel is actually found

Front 87

H-CANOE

AP of Chattel

Back 87

Thestatutory period starts to run when all of the elements of H-CANOE are met andcontinues to run as long as all of these elements are satisfied

Front 88

Discovery Rule

AP of Chattel

Back 88

Owner first knew, or reasonably should have knownthrough the exercise of due diligence, of the cause of action, including theidentity of the possessor of the paintings. To apply this rule, a courtwould have to identify a specific datewhen the record owner knew, or should have known who had the painting.

Front 89

Three requirements for gift personal property

Back 89

1. Intent

2. delivery

3. acceptance

Front 90

Intent

Element of Gift

Back 90

Donor must intend to make a present transfer ofan existing interest in the property

Front 91

Delivery

Element of Gift

Back 91

Donor must deliver possession (hand over theproperty) to the done with the manifested intention to make a gift

Front 92

Acceptance

Element of Gift

Back 92

Acceptance by the donee is required. Courts give Acceptance by donee as automatic if item has value.

Front 93

What if actual Delivery is Impractical for a gift.

Back 93

Can use constructive delivery

or symbolic delivery

Front 94

Symbolic Delivery

Back 94

handing over something that is symbolic of theproperty given

Front 95

Constructive Delivery

Back 95

handingover a key or some object that will open up and access to the subject matter ofthe gift