Ownership

Question 1

What is the holder of a LE limited by?

Answer 1

Waste

• Affirmative
• Permissive
• Ameliorative (allowed when substantial/permanent changes in neighborhood make it necessary.

Question 2

What happens when there is a conflict of laws?

Answer 2

Law of the situs. Where property is located.

Question 3

What are the two main statutory changes to RAP?

Answer 3

Wait and see - 90 years

Cy Press - court changes conveyance.

Question 4

What does the FHA prohibit?

Answer 4

Discrimination in housing based on religion, color, race, sex, national origin, disability, and familial status.

Can’t refuse to sell/rent; different housing; different terms of sale; falsely denying housing if available; refuse mortgage; reasonable modifications; advertising that discriminates.

Question 5

What is the doctrine of worthier title?

Answer 5

Prevents a remainder in grantor’s heirs.

Creates a reversion to grantor.

Question 6

What are the two types of special vested remainders?

Answer 6

VR Subject to Open

• “to my children”
• Group can still grow
• Absent a closing dat: rule of convenience: closes when any member of class becomes entitled to immediate possession.

VR Subject to Complete Divestment
- Indicates that the occurrence of a condition subsequent will completely divest the remainder interest.

Question 7

When is a remainder contingent?

Answer 7

Beneficiary is unknown or condition precedent.

Question 8

What is the rule in Shelley’s Case?

Answer 8

Present and future interest merged.

i.e. “To B for life, then B’s heirs” = “To B”

If rule abolished, then Bs heirs have a contingent remainder.

Question 9

What are the different future interests?

Answer 9

Reversion = LE

Possibility of reverter = FSD

Right of reentry = FSSCS

Remainder = LE

Executory Interest

• Shifting - Grantee to grantee
• Springing - Grantee to grantor

Question 10

What are the two exceptions to the RAP?

Answer 10

1. Charity -> charity

2. Option to purchase or right of 1st refusal held by current leasehold tenant or made in commercial transaction.

Question 11

What is a partition?

Answer 11

In kind v by sale
(not physically possible)

Divides property

Tenancy in entirety cannot partition

Agreements not to partition bald if reasonable and clear.

Question 12

Does a co-tenant in a joint tenancy or tenancy in common have a right to possess entire property?

Answer 12

Yes

Question 13

Can a co-tenant collect operating expenses?

Answer 13

Yes, when more than fair share

Question 14

Can a co-tenant collect for repairs?

Answer 14

No, unless necessary and action for accounting or partition.

Question 15

What are the three types of concurrent estates?

Answer 15

Tenancy in common - Equal right to poses

Joint Tenancy - “right of survivorship”

• 4 unities (PITT - Possession, Interest Time, Title)
• Severance creates tenancy in common
• Mortgage - lien theory vs. title theory.

Tenancy by the entirety

• Marriage
• Right of survivorship

Question 16

When is a remainder vester?

Answer 16

Interest not subject to condition precedent.

Ascertainable grantee

Question 17

When a clause violates RAP, what happens?

Answer 17

Strike the clause.

Question 18

When does RAP apply?

Answer 18

Contingent remainders

Executory Interests

Class gifts (subject to open)

Powers of Appointment

Rights of first refusal

Options

Question 19

What are the different types of present?

Answer 19

FSA - alienable and devisable: “To A” or “To A and s heirs”.

FSD - automatic termination after event. “while” “during” “so long as” “until”.
- Possibility of reverter

FSSCS - Not automatic, grantor must show intent

• “Provided that”, “but if” - “on condition that”
• Right of reentry

FSSEI - 3rd Party

• “Then to B”
• Execratory interests

LE “For life” - reversion.

Note: Also Fee tail “heirs of body”.

Question 20

Can a vested remainder be transferred inter vivos, devisable by will or descendable?

Answer 20

Yes.

Question 21

What is the RAP?

Answer 21

Specific future interests are only valid if they must vest or fail by the end of a life in being plus 21 years.