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Property Law > Final, Final Review Cards > Flashcards

Final, Final Review Cards Flashcards

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1
Q

Discovery

A

First in time, first in right

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2
Q

Capture

A
  • pursuit not enough
  • on unowned land
  • ask if wild or domesticated
  • check if it is captured (if they escape and no attempt is made to recapture, can lose title)
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3
Q

Creation - accession

A

whoever changes + improves (substantial change/good faith)

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4
Q

Creation - Trademark

A

DNF: Distinctiveness, Non-functionality, First use in trade

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5
Q

Creation - Copyright

A

WOF: Work of authorship, Originality, Fixation

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6
Q

Creation - Patents

A

PENNU: Patentability, Enablement, Novelty, Non-obviousness, Utility

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7
Q

Creation - Right of Publicity

A

Protects likeness/autograph/photograph/signature/etc.

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8
Q

Body

A

COA for conversion you need ownership and interference in ownership

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9
Q

Finding: lost v. mislaid v. abandoned

A

lost: unintentional (F, except true owner)
mislaid: intentionally placed there, forgot (OLIQ, except true owner)
abandoned: either can become so with enough time (F over ALL)
special things: OLIQ (attached to land)
**Check level of exclusivity
**Check employee/employer

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10
Q

Adverse Possession

A

OCEAANS: open, continuous, exclusive, actual, adverse, notorious, statutory for a period of time

adverse: aggressive/good faith/objective
tolling: minor/disability
tacking: can as long as in privity

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11
Q

Concurrent Ownership: Tenancy in Common

A

default

- descendible, devisable, alienable

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12
Q

Concurrent Ownership: Joint Tenancy

A
  • right of survivorship
  • alienable only
  • 4 unities (TTIP: time, title, interest, possession)
  • *Language must explicitly state “as JTs with right of survivorship”
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13
Q

Concurrent Ownership: Tenancy by the Entirety

A
  • married plus 4 unities met

- not alienable/desc/dev

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14
Q

Concurrent Ownership: Severance

A

ends right of survivorship (JT/TBE)

  • by conveyance to 3rd person or yourself (strawman)
  • then becomes TIC
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15
Q

Co-Owners

A
  • don’t need to pay co-owner rent unless ousted
  • no right to business profits

Contribution Action (carrying charges) - ask, denied? -> sue!
Accounting - have to wait to sue
Partition - have to wait to sue
– in kind: separate land (owelty: additional payment to whoever gets less)
– by sale: sell + divide profits

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16
Q

Marital Interests - Two Types

A

Common Law (IL) + Community Property (west coast + WI)

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17
Q

Marital Interests - Common Law

A

Life: title governs
Divorce: split into marital + non
– non-marital: property owned by both after marriage except gift/devise/descent in just proportions
Death: title, elective share (spouse can renounce and take 1/2 or 1/3)

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18
Q

Marital Interests - Community Property

A

Life: neither can convey their 1/2 unless it is to the other spouse
Divorce: keep separate and awarded a portion of community property
Death: surviving gets 1/2 of community and retains their own, estate of deceased gets 1/2 of community and separate property and posses by will

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19
Q

Marital Interests - Migrating

A

CL -> CP - after move = CP, before = does not change (stays CL)
CP -> CL - all stays as CP, title governs

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20
Q

Estates: Term of Years

A

fixed time

no notice to terminate

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21
Q

Estates: Periodic Tenancy

A

indefinite
intervals
express notice to end

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22
Q

Estates: Tenancy at Will

A

no fixed duration

either can end (death, notice, transfer)

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23
Q

Estates: Tenancy at Sufferance

A

holdover!!!!!!!!!!!!! (can evict or consent)

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24
Q

if ur reading this ur gonna KILL THE EXAM

A

hi Lily

25
Q

Assignment

A

transfer entire leasehold interest
LL - T privity of contract
LL - A privity of estate
T - A privity of contract

26
Q

Sublease

A

transfer less than entire leasehold interest
LL -T privity of contract and estate
LL - S privity of contract and estate
T - S no legal relationship

27
Q

Tenant Duties

A

no waste
pay rent
maintain premises

breach of paying rent:

  • in possession = evict + sue or continue relationship + sue
  • not in possession = surrender, ignore abandonment and hold responsible, re-let on their behalf
28
Q

LL Duties

A

deliver possession
convenant of quiet enjoyment
– breach: SING (substantial interference, notice, goodbye)
implied warranty of habitability
– breach: MR3 (move out, repair + deduct, reduce, remain)
HRCDMN (habitable, disclose latent defects, carefully repair, maintain common areas, avoid fraudulent misrepresentation, abate nuisances)

29
Q

Real Estate: Past Performance

A

Exception to SoF
needs:
- physical possession by buyer
- buyer pays all/substantial part of purchase price OR makes substantial improvement

30
Q

Real Estate: Marketable Title

A

3 circumstances that will make it NOT:

  • adverse possession
  • encumbrances
  • violation of zoning restrictions
31
Q

Real Estate: Equitable Conversion

A

Purchaser of real property becomes equitable owner of title when they sign contract binding them to purchase later.

32
Q

Real Estate: Duty to Disclose Defects

A

common law: none, exceptions:

  • fiduciary duty, active concealment, affirmative misrepresentation, partial disclosure
  • Ackley 4 prong test (creates defect that can’t be found in inspection)
33
Q

Real Estate: Doctrine of Merger

A

Contract merges with deed + you can no longer sue over contract (exceptions: fraud, collateral promises, explicitly saying so)

34
Q

Real Estate: Implied Warranty of Quality

A

Only with new stuff that is built

- can pass onto new buyer

35
Q

Real Estate: Types of Deeds

A
  • Quitclaim (worst, no covenants)
  • General Warranty (best, 6 covenants)
    • seisin, right to convey, against encumbrances, quiet enjoyment, covenant of warranty, further assurance
  • Special Warranty (2 promises)
    • grantor promises he has not conveyed property to another AND that it is free from encumbrances
36
Q

Real Estate: Remedies for Breach

A
  • damages
    • basic (loss of bargain, different between contract price and fair market value at time of breach)
    • special (money to put bac on market)
  • -punitive
  • specific performance (force to perform contract terms)
37
Q

Financing: Mortgagor v Mortgagee

A

Mortgagor - borrower

Mortgagee - bank/lender

38
Q

Financing: Mortgage v. Deed of Trust

A
  • Security interest in property
  • Mortgagee can hold property hostage
  • Deed of Trust is the same ^ but puts property in trust
  • If you do not pay, they can sell!!
39
Q

Financing: Foreclosure

A 
Strict (lender keeps)
By Sale (force sale) - better for borrower, at least they get some money!!
40
Q

Title Assurance

A

first in time, first in right
Race, Notice, Race-Notice
Race: first to record
Notice: must take without notice (later beats earlier is she purchase without notice of earlier grant)
Race-Notice: purchases without notice AND records first (IL)

  • *notice: must purchase for full value and have no notice of older buyer’s existence when they took
  • *types of notice: actual, constructive, inquiry)
41
Q

Title Assurance: Shelter Principle

A

later takers get recording system that person before had protecting them

42
Q

Title Assurance: Registration/Title Insurance

A

Registration: certificate you had title

Title Insurance: 3rd party to ensure good title

43
Q

Servitudes: license

A

right to use someone else’s land temporarily

44
Q

Servitudes: easement

A

right to use someone else’s land in a defined way

45
Q

Affirmative v. Negative Easements

A

A: you can do something on another’s land
N: servient cannot do something on his own land (light, air, stream, sun)

46
Q

Appurtenant v. In Gross

A

A: “it takes two” - benefited (dominant) and burdened (servient)
I: commercial or personal gain on holder (only servient here) (only commercial is transferable)

47
Q

How to create easements

A

PINE:

prescription (adv poss), implied, necessity, express (deed)

48
Q

Easements by Estoppel

A

starts as license oral agreement, then they revoke

49
Q

Easements: Termination

A
  • by terms
  • merger
  • necessity
  • purpose complete/impossible
  • release
  • abandonment
  • adv poss
50
Q

Running Covenants: Real

A

Real: promise to do/not do something (unlike easement bc this starts as contractual limitation/promise about land)
– runs with land if it is capable of binding successors

serv -> new serv: WITHN
- writing, intent, touch and concern, hor/ver privity, notice

dom -> new dom: WITV

  • writing, intent, touch and concern, vert priv
  • *Relief is $$
51
Q

Equitable Servitudes

A

Promise that equity will enforce against successors
- injunctive relief
to bind successors: WITNES
- writing, intent that it will bind, touch and concern, notice, equitable servitude

52
Q

Gift/Sale: Requirements

A
  • intent (PRESENT, not future) (if the intent is to give @ death this becomes testamentary and does not satisfy this requirement)
  • delivery (physical, constructive, symbolic)
  • acceptance

**for causa mortis (at death): need to have present mental capacity to give + can only be for personal property

53
Q

Bona Fide Purchaser

A

good faith purchaser who bought something with bad title unknowingly
- voidable title + BFP = good title (can beat og owner)

  • If void title (stolen) can’t protect BFP
  • Voidable = paid with false payment
54
Q

RAP!!!!!!!!!!! FUN TIMES!

A

VR Subject to Open, CR, EI
1 - find measuring life (ML: alive at time of conveyance and their life/death it relevant to condition occurring AKA: will we know within 21 years of them dying if the condition will be met)
2 - will condition be met 21 years after death
3 - If we don’t know it is bad and you STRIKE!

55
Q

Present Interests

A

Fee Simple Absolute, Life Estate, Fee Tail

FSA: “To A and her heirs” - dev/desc/alienable
LE: “To A for life” “To A for B’s life” - FI: possibility of reverter (O), remainder (3rd party), NO WASTE!, only alienable
FT: “To A and the body of her heirs”, becomes FSA now FI were pos of rev (O) & rem (3rd)

**waste: affirmative, permissive, ameliorative

56
Q

Present Interests - Defeasible

A

Fee Simple Determinable, Fee Simple Subject to Condition Subsequent, Fee Simple Subject to Executory Limitation

FSD: “To A during/so long as…” - conditional, auto ends if violated, FI: possibility of reverter [in FSA]
FSSCS: “To A if X event occurs, if not then O has right to reenter and retake” - FI: right of entry [in FSA], not auto terminate, O can take back if O wants
FSSEL: “To A but if A does not do X, to B” - auto goes to other person if violated, FI: shifting executory interest [in FSA]

**all three are dev/desc/alienable subject to condition

57
Q

Future Interests: Grantor Retained

A

Possibility of Reverter (FSD)
Right of Entry (FS S CS)
Reversion (when grantor gives less)

58
Q

Future Interests: 3rd Party

A

Vested Remainder, Contingent Remainder, Executory Interest

VR: ascertained AND not subject to condition precedent

    • Indefeasibly VR (will acquire in future, no req) “To A for life, remainder to B”
    • VR subject to total divestment “To A for life, remainder to B, but if B die under 25, to C”
    • VR subject to open “To A for life, then to B’s children”

CR: unascertained/unknown takers “To A for life, if B graduates, to B” (you have yet to meet the condition)

EI: shifting (another cuts short - “To A unless B returns to IL, then to B), springing (grantor gets cut short - “To A if A gets married)

Property Law (3 decks)

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