Chapter 26 - Real Property and Landlord use control Flashcards
Life Estate
An estate that lasts for life of specified individual
3 components of Fee Simple De-feasible
- Conditions
- Enforceable
- Reversionary & Remainder interest
Life Estate
Fee simple owner until death
Joint Tenancy
Right of survivorship, if transferred, terminates JT,
Goes to wife rather than airs
Upon death in a tenancy in common
Passes to airs
Default ownership in Colorado
Tenancy in common
4 parts of Adverse possession
Possession of land has to be
- Obvious
- Exclusive
- Hostile
- for 18 years (in colorado
Easements and Profits
Easement - Right to go on land
Profit - If you’re going to take something from the land
Whoever buys property is subject to
preexisting easements
Types of Easements
- Appurtenant (2 pieces adjacent
- In gross
- By Implication (conjoined appurtenant)
- Prescription (version of adverse posession)
- Effect of sale of property
Eminent Domain must be for a ____ ___
public purpose
4 types Leasehold Estate
tenancy for years - a definite time
tenancy at will
periodic tenancy - measured by how often rent is paid
tenancy at sufferance - when you stay over your lease term
4 Landlord/Tenant Relationship
use and maintenance of premises - tenant is supposed to maintain unless otherwise stated
Assignment v sublease
termination of lease
implied warrant of habitability
Assignment vs sublease
landlord wants to prohibit both
Assignment is entire property is leased for entire remaining term
Sublease - Anything short of assignment
IF lease is silent, one has _ ___to move out
7 days
Must give notice 7 days prior to 1st day of month you move out
