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UBC Real Estate Licensing Exam > Chapter 2: Estates and Interests In Land > Flashcards

Chapter 2: Estates and Interests In Land Flashcards

1
Q

What are the two types of crown land?

A

1) Freehold (Fee simple)

2) Leasehold

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2
Q

Freehold / Fee simple estates

A
  • do as you wish
  • lifetime ownership
  • can be inherited
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3
Q

Leasehold land

A

INCLUDES First Nations land

City owned and federal land

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4
Q

Remainderman

A

Freehold land that is stated in the will

This is the name for the person who is written in the will to get the land

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5
Q

Reversioner

A

This is the name for the person who isn’t stated in the will but gets the land

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6
Q

Who pays the mortgage principle if there is a life estate to the land?

A

The remainder man

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7
Q

Is land ownership absolute?

A

Land ownership is not absolute!

Your land is subject to the crowns land use regulation

They have the right to take your land back for a variety of reasons

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8
Q

Expropriate

A

The crown taking your land back

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9
Q

Life estate

A

Lasts for the lifetime of the holder

Called a life tenant

It is a charge to title

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10
Q

Who pays the interest on a mortgage if there is a life estate?

A

The life tenant pays the interest

The remainderman pays the principle

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11
Q

Estate Pur Autre Vie

A

“Based on the life of”

Meaning the life estate can sell the land

But, when the life estate holder (the life tenant) dies, the estate pur autre vie loses access

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12
Q

Life estates / life tenants have 2 rights, what are they?

A

1) the right to use and occupy the land

2) to receive revenue

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13
Q

Life estates / life tenants have multiple obligations if they wish to use the land, what are they?

A

1) must pay yearly operational expenses (such as property taxes)
2) must deal with waste
3) must pay the interest on the mortgage (not principle or insurance premiums)

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14
Q

There are 2 categories of waste, what are they?

A

1) common law waste

2) equitable waste

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15
Q

Types of common law waste

A

Acronym: VPA

Voluntary
Permissive
Ameliorating

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16
Q

Voluntary waste

A

Type of common law waste

Include cutting down trees or pulling down the garage

Small damage to the land

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17
Q

Permissive waste

A

Type of common law waste

Involves allowing the property to deteriorate

The one type of waste you cannot be sued for

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18
Q

Ameliorating waste

A

Type of common law waste

Involves improving the property

Such as building a fence or planting trees

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19
Q

Equitable Law has one type of waste, what is if?

A

Equitable (lol)

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20
Q

Equitable waste

A

Type of equitable law

Involves the destruction of the building

Big damage!

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21
Q

Life without impeachment for waste

A

This simply means you are only responsible for equitable waste (big damage) and not the 3 common types

22
Q

What is the one type of waste the judge can never enforce

A

Permissive waste!

As doing absolutely nothing isn’t considered against the law

23
Q

What are the two “extents of ownership” in land?

A

1) fixtures

2) chattels

24
Q

Fixtures

A

Fixtures go with the land

Will belong to the purchaser of the house

Affixes to enhance the land

25
Q

Two part test for fixtures

A

1) degree of affixation (enhancement or enjoyment)

2) purpose of affixation

26
Q

Chattels

A

Chattels remain the personal property of the seller (ie the tv, but not the mount)

Affixed for the enjoyment of the item

Any item excluded from the purchase price can be removed

27
Q

“Ownership of land” involves 3 aspect, what are they?

A

1) airspace - yes, but not as far as the eye can see
2) subsurface - no, nothing expensive is yours (ie gold, oil)
3) water rights - no, if you live on the lake you don’t own the water

28
Q

Interest in Land Less Than Estates

A

1) easements
2) restrictive covenants
3) profits a prendre

29
Q

Easement definition

A

The right to use a particular area of land for a particular purpose or

Example: to walk across someone land to get to the lake

30
Q

3 factors that must be present for a valid easement

A

1) must have dominant and servient lot (except for statuatory right of way, such as BC hydro)
2) should accommodate the dominant tenement (it’s the land that benefits from an easement, not an owner)
3) form the subject matter of a grant (it creates boundaries)

31
Q

Restrictive covenants definition

A

Imposes a restriction on the use of one persons land for the benefit of another piece of land

Example: Such as imposing height restrictions on the lot infront of your house so it doesn’t block your view

32
Q

Restrictive covenants must be ________ in nature

A

Negative

33
Q

Restrictive convents ________________________, meaning sale of land doesn’t effect remove it

A

Runs with land

34
Q

Restrictive covenants are _________ on the parties (Covenantee and covenanter)

A

Binding

35
Q

Profits a prendre

A

To enter the land of another person to take some profit

Example: to fish or hunt on the land

May have dominant and servient lot but not ‘’must’ or required

36
Q

How to release an easement, restrictive covenant, or profits a prendre

A

1) by an express agreement - dominant tenement releases (mutual agreement)
2) discharge of interest - courts may cancel or modify

37
Q

Building scheme

A

A group of restrictive covenants to maintain UNIFORMITY

38
Q

Building scheme specifics to be valid

A

1) the parties must receive their title from the same vendor and purchasers May sell to others without affecting the building scheme
2) restrictions apply equally to all lots and must be consistent with some general scheme of development
3) the benefit of the restrictions should bind each lot

39
Q

What are the two types of Co-ownership of land

A

1) joint tenancy
2) tenants in common

40
Q

Joint tenancy involves 4 unities / components that must all be met, what are they?

A

1) unity of time
2) unify of title
3) unity of interest
4) unity of possession

41
Q

Unity of time

A

Part of the 4 unities of joint tenancy

Must receive interest at the same time (aka both be present to sign)

42
Q

Unity of title

A

Part of the 4 unities of joint tenancy

Must obtain their interest from the same document

Aka must both be there to sign the same sheet

43
Q

Unity of interest

A

Part of the 4 unities of joint tenancy

Must have the same interest in land

Same kind of interest - aka everyone must be fee simple

44
Q

Unity of possession

A

Part of the 4 unities of joint tenancy

Undivided interest in the entire property

Meaning you can’t divide the house by floors, or back half. Everyone owns the entire place

45
Q

For a joint tenancy, does everyone need to invest an equal amount in the land?

A

The actual money can be invested anyway, 50-50, 25-75, 40-60, but the interest in the land must remain 50-50

46
Q

Define Right of Survivorship

A

in joint tenancy: when one of the owners of the land dies, the entire property is inherited in the remaining owner, or split between multiple owners equally

47
Q

Can you put a joint tenancy in a will!

A

You cannot

But you can sell your share

48
Q

Tenants in common

A

Has a single unity: unity of possession (meaning everyone has entire ownership of property)

Owners do not have equal shares, money, or time in the property

You can will it

No right of survivorship

49
Q

If it isn’t specified on paper, your co-ownership of land always defaults to

A

Tenants in common

50
Q

If a fee simple owner dies with no will and no heirs, what happens to the property?

A

It would escheat back to the crown

51
Q

Cornelius gave a life-estate to Ruell which did not especially state anything about Ruells liability for waste. Ruell will not be liable to the remainderman for

A

Permissive waste

As you cannot sue for doing nothing

52
Q

Where an item has been a fixed for the enhancement of the use of the premises, that is evidence the item is chattel?

A

False

Fixture = enhancement 
Chattel = enjoyment

UBC Real Estate Licensing Exam (24 decks)

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