FL property distinctions Flashcards
What if FSA or FS language is ambiguous?
Defaults to fee simple - no limiting words required
Reverter and forfeiture
LImited to 21 years from conveyance (unless to certain governmental or charitable associations) but
restrictive covenants on revert/foreiture clauses are enforceable despite the 21 year limit
Contingent remainder is destoryed if -
hasn’t vested by the time the preceding estate terminates
FL USRAP
FL Uniform Statutory Rule Agianst Perpetuties
non-vested interest in real/personal property is invalid unless:
- when created, interest will vest or terminate no later than 2 1 yeras after death of person then alive
- CP satifised or become simpossile to satisfy w/i 90 years of creation
Future interest in trust is invalid unless vests or fails within 360 years (subject to language in actual trust)
Tenancy in common is automatically created when -
real property is transferred to 2+ people, unless insttruemnt expressly provides for ROS or TBE
Note: Landlowner can create a JT in himself and antoher by single deed, but if language is ambiguous re: ROS, defaults to TIC
TE - transfer to spouses
Transfer by 3P - presumed to create TE
By title-holding spouse to (1) other spouse, or (2) both spouses if deed specifies intent to create TBE
TE in personal property require unities of time, posession, title, interest, marriage, + intent and right to survivorhsihp
Land Sales - use of extrinsic evidence in contract
Allowed in FL if descrpition of property is inadequate and K indicates parties were dealing with specific piece of property
Part peformance as exception to SOF
Need payment, possession and improvement in order to trigger defense of part performance (not just 2 out of 3)
Equitable actions only
Detrimental reliance as exception to SOF
Promissor estoppel doesn’t permit enforcement of land sale K that doesn’t comply with SOF
Duty to disclose
Seller has duty to disclose facts materially affecting value of propety that aren’t readily observable and are not known to Buyer
Adverse posession
Doctrine of boundary of acquiescence
hostile req for AP isn’t required under doctrine of boundary by acquiescence. Must prove:
- uncertainy/dispute re: true boundary
- location of boundary line
- acquiescence in loation for 7 years
Constructive acquiescence
if property is divided into lots, person claiming AP on one lot doesn’t get constructive AP on any others
CAP begins:
- color of title - when instrument is properly recorded and propety is improved
- no color of title - when posessor pays outstanding taxes, files with appraiser, continues to pay taxes
If you don’d do the above, subject to trespass or theft (if you try to rent it)
Deed requs
- Identification of parties
- Grantor’s signature + 2 witnesses
- words of transfer
- reasonably definite description
Recording statute
- FL is notice jx, but doesn’t have GF language
- Protects lien and judgment creditors who take w/o notice in addition to BFPs
- Purchaser has duty to conduct reasonable investigation of premises to determine if someone other than seller has posession (can’t feign ignorance when a house shows up)
Anti-lapse statute
FL’s ALS allows for gifts going to devisees who wound up predeceasing testator to go instead to devisee’s surviving descendents (per stirpes)
Installment land contracts
Treated as a mortgage - seller must adhere to foreclosure procedures to get clear title
Equity of redemption
Debtor can’t redeem property after completion of foreclosure sale
Deficiency judgments
Mortgagee can get deficiency J as part of foreclosure action at discretion of court
For owner-occupied property, can’t be more than FMV of property even if that’s less than deficiency
Easements by necessity
REcongized if:
- person grants land w/ no accessible ROW
- no other reasonable ingress; easement is necessar for use/enjoyment of part granted/reserved
- unity of title exists
Statutory way of necessity - granted for rural land used for dwelling, agriculture, etc. that is shut off by land, fencing, improvement. Landowner can get compensation
Easement by estoppel
Oral agreement won’t work - creates an irrevocable license instead
Marketable Record Title Act (MRTA)
Governs restrictive covenants under HOAs
encumbrances on RP may be rendered unenforceable 30 years after date of record if not propertly preserved/reaffirmed
Tenancy for years - Termination at end of term
- T can be reqired to notify LL w/i specified period (6 days or less) if LL is also subject to notice req
- T can be liable for liquidated damages if not
Periodic tenancy
Nonresidential - Considered a “tenancy at will” (Note: all noncommerical are TAW unless lease signed by L)
Terination notice periods:
- YtY - residential: 60 days, commreical - 3 months
- QtQ - residential: 30 days; commercial - 45 days
- MtM - 15 days
- WtW - 7 days
Tenant duties
- comply w/ building and health codes
- keep premises clean and santiary
- remove garbaage from premises
Repairs by LL (breach)
If LL has obligation under nonresidential lease and doesn’t comply, T can withhold rent if really bad (wholly untenantable) after providing notice
If nothing happens in 20 days, T can:
- abandon premises
- retain rent withheld
- terminate lease
- avoid future rents or charges under lease
Breach by residential T
- T has 7 days to cure a breach of lease provision
- If breach can’t be cured, T has 7 days to vacate
Nonpaymnet of rent
Residential T - LL has 3 days to make written demand for payment or that T vacate
Nonresidential - LL can file action to recover possession of property. If he accepts full payment from T, considered waiver of right to evict
Abandonment of proprety
Abandonment presumption: If T is absent for at least 1/2 of rental payment period w/o L’s knoweldge,
Doesn’t apply if rent is current or LL has notice
Holdover Ts
No self help - LL can file action for posession, and may collect double rent due for time during which T holds over
Tenancy for years
- measured by fixed and ascertainable amount of time
- automatically terminates at end of term
- created by express agreement
- Need to be SOF if longer than 1 year
Tenancy at suffrance
When T wrongfully remains on premises after expiration of lease
Tenancy at will
No specific term
created by express agreement or implication
May be terminated by either party; most states now require notice
Periodic tenancy
Repetitive, ongoing estate by set period of time w/ no predetermined termination date (by can be fixed by parties)
automatically renews at end of each period unless valid termination notice
created by express agreement, implication or operation of law
