Extra Stuff Flashcards
a secondary liability that arises under the common law doctrine of agency. Anything the sub-agent knows, the agent has same knowledge.
Vicarious Liability
hypothecation
process of pledging the property as collateral without giving up possession
Joint Liability
agent and sub-agent are fully liable for all their obligations
Several Liability
agent and sub-agent are only liable for their proportionate share of obligations
Estate Pur Autre Vie
life tenant has rights to property as long as some OTHER party is still alive (ex. live-in nurse and widower wife)
Ordinary Life Estate
life estate is granted to life tenant while the life tenant is alive
Tenancy in Severalty
one owner of an entire estate
Tenancy in Common
multiple owners of an estate, each have their own interest and their own title which can be sold.
Joint Tenancy
- requires more than one owner
- must specify right of survivorship
- all tenants share title ownership
Easement by Necessity
landlocked property needs access to road
Easement by Prescription
one openly trespasses across another’s property, continuous period of time, owner does nothing to stop it.
Easement by Condemnation
created by the government / eminent domain
Easement by Dedication
granted by owner for public use without valuable consideration
Easement by Implication
When one party uses land of another (easement) for a continuous period of time, the easement would convey to a new owner by implication.
Which type of easement has a servient tenement but not a dominate tenement?
Easement in Gross
