MBE

Question 1

Life Tenant Tax Duty

Answer 1

Duty to pay taxes but is limited to any financial benefit the life tenant gets for the property.

If taxes exceed the fair rental value, then have to pay. Because you are receiving a benefit from the property.

Question 1

When one Joint tenant dies, then

Answer 1

the other joint tenant gets the entire property

Question 2

Fee simple Condition subsequent

Answer 2

If condition fails, then right of reentry goes to third party.

Question 3

RAP applies to

Answer 3

• Right of First Refussal

Question 4

RAP doesn’t apply when

Answer 4

• there is a lease
• future interest revert to grantor (reversion, possibility of reverter, right of reentry)

Question 5

Rights of First Refusal are enforcable when

Answer 5

it’s reasonable

Question 6

Sublese vs assignee

Question 7

Adverse Possession

Answer 7

ECHO

Exclusive, Continious, Hostile, Open and Noterious

Question 8

Shelter Rule (recording issue)

Question 9

Estoppel by Deed

Question 10

Merger Clause

Question 11

Equitable Conversion

Answer 11

Buyer bears risk of loss

Question 12

If purchase the land subject to the mortgage

Answer 12

then the buyer is not responsible for the mortgage

Question 13

How to terminate an easement

Answer 13

1. Merger
2. BFP and not included recorded
3. Abondanment (overt act)

Question 14

Constructive Eviction

Answer 14

A constructive eviction occurs when the landlord breaches a duty to a tenant that substantially intereferes with the tenants use and enjoyment of the property.

Question 15

If the property is not habitable, then the tenant may

Answer 15

1. refuse to pay rent
2. Repair and deduct the cost of the repair from rent
3. defense against eviction

Question 16

Landlord may be liable for under a theory of torts,

Answer 16

1. existing defects
2. failure to make repairs required by housing code
3. sometimes the criminal liability of a third e

Question 17

Vested remainder vs contingent remainder

Answer 17

Vested Remaindr: condition subsequent

Contingent remainder: condition precedent

Question 18

When a fee simple determinable is conveyed, the grantor has a

Answer 18

possibility of reverter

Question 19

Attornment

Answer 19

Tenants Acknowledgment of a new landlord.

Can be done in writing or by making payments to the new landord

Question 20

2 exceptions to duty to pay rent

Answer 20

1. destruction the tenant is not at fault for
2. Material Breach

Question 21

2 types of EI

Answer 21

1. Shifting executory interest: divests the interest of the grantee by cutting short a prior estate created in the same conveyance. The estate “shifts” from one grantee to another on the happening of the condition.
2. Springing executory interest: divests the interest of the grantor or fills a gap in possession in which the estate reverts to the grantor.

Question 22

6 covenants of a general warranty deed

Answer 22

present
- seisen
- conveyence
- encumburances

future
- quite enjoyment
- warrenty
- further assurences

Question 23

Condesquent 2 situations

Answer 23

1. unascertainable beneficiary
2. subject to a condition precedent of the grantee’s taking

Question 24

Marketable Title

Answer 24

Free of any defects/ unreaosnable risk of litigation

Question 25

what happens when an easement fails due to SOF

Answer 25

A license is created.

Question 26

Quite enjoyment

Answer 26

breached only when the conduct of the landlord or someone with superior title prevents the tenant from possessing the leased premises.

Question 27

Exceptions to SOF

Answer 27

1. Partial Performance 2. Full performance 3. detrimental reliance 4. admission

Question 28

Wild Deed

Answer 28

A wild deed is a recorded deed that is not within the chain of title

Question 29

3 Waste that a tenant mjust avoid

Answer 29

1. voluntary waste 2. permissive waste 3. ammirlative waste

Question 30

Requirements of a Valid Deed

Answer 30

1. Identities of Parties 2. Words of Intent 3. Description of Property 4. Grantor Signature

Question 31

Deed transfers title when

Answer 31

In general a deed transfers title only when 1. The grantor INTENDS to convey an interest, 2. The grantor DELIVERS a deed to the grantee, AND 3. The grantee ACCEPTS the deed.

Question 32

When is marketable conveyed?

Answer 32

CLosing

Question 33

Unities of Co-Tenacy

Answer 33

1. Tenancy in common: Unity of possession 2. Joint tenancy: Unities of possession, interest, time, and title ("PITT") 3. Tenancy by the entirety: Unities of person, possession, interest, time, and title

Question 34

Public vs. private nuisance

Question 35

exoneration-of-liens doctrine

Answer 35

Under the common-law exoneration-of-liens doctrine, the recipient of a specific devise of real property can use the remaining assets in the testator's estate to pay off any encumbrances on that property.

Question 36

Ademption

Answer 36

The doctrine of ademption by extinction causes a devise of a specific asset to fail if a testator does not own it at the time of death. Proceeds from the sale of the asset, or property purchased with those proceeds, then become part of the general estate.

Question 37

Rule of Convenience

Answer 37

The Rule of Convenience prevents the Rule Against Perpetuities from being applied to class gifts by closing class membership when any member of the class is entitled to immediate possession of a share in the class gift.

Question 38

Judgement Lein

Question 39

Cotenants Fidiciary Relationship

Answer 39

co tenants have a fidiciary relationship if they become cotenants at the same time and the to transactions that occue during the tenacy