Practice Set 4 Flashcards
What are landlord’s remedies for tenants’ breach?
- IF tenant remains on premises - terminated lease + (a) damages + (b) eviction UNL (c) accept late rent
- IF tenant abandons - (a) LL accept - no future rent, (b) LL no accept - future rent still owed
- If tenant holdsover - (a) eviction OR (b) new periodic tenancy
What are duties of the landlord?
- Give possession
- Duty to repair for residential leases
- Warranty of habitability (residential)
- Covenant of quiet enjoyment
- Security deposit - (a) escrow, (b) return / accounting
What happens in a breach of covenant of quiet enjoyment?
- Actual eviction - no duty to pay rent
- Partial eviction - (a) LL - no duty pay rent, (b) 3d pty / adverse possessor - duty to pay value of rent
- Constructive eviction - no duty pay rent only if (a) notice + (b) time to give LL repair / (c) vacates w/in reasonable time
What happens to tenant’s obligations if LL’s property is condemned?
- IF partial condemnation - (a) tenant still pay rent + (b) gets comp from LL for condemned portion
- IF total condemnation - no obligation to pay rent
What are essential terms required in the SoF?
- Name the parties
- Property description
- Terms of price + payment
What is required for performance of a property sale contract?
- Marketable title
- Time of the Essence (must perform on date of closing)
- Implied warranty of fitness / suitability
- Duty to disclose defects
What is the effect of death on either party to a property sale contract?
- Seller death - property adeemed, proceeds = personal property
- Buyer death - devisee can compel performance of contract
What is the standard used to determine whether title is marketable?
The title must be free of an unreasonable risk of litigation at the time of closing
What does the Uniform Vendor and Purchaser Risk Act do?
It allocates the risk of loss on the seller between contract and closing UNL (1) buyer takes possession or (2) title is transferred
What are the general priorities of multiple mortgages?
Generally first in time first in right UNL (1) purchase money mortgage, (2) recording act deficiency, (3) contractual subordination among mortgagees, (4) modifications / replacements, (5) future advances (a) obligatory, and (b) optional but w/o notice of later mrtg, (6) after acquired property
What classes are protected under the Fair Housing Act?
No discrimination against (1) race, (2) color, (3) religion, (4) national origin, (5) sex, (6) disability, and (7) familial status - (a) INCL custody of children <18Y + (b) being pregnant; (c) exemption for certain older people housing
Who has the duty to maintain an easement?
- The owner UNL the parties otherwise agree.
- If easement shared, then owner can seek contribution from other owners for maintenance / repairs after (a) adequate notice + (b) opportunity to participate in repair decisions.
- Owner of the servient estate must contribute to the repair / maintenance of if it uses the easement
What happens if a lender releases a mortgage on a home?
The original mortgagor-borrower’s obligation is discharged
What is the remedy if a party to a property sale does not perform on the closing date but time is not of the essence?
The other party can get specific performance if the breaching party is ready to perform within a reasonable time from the date set for performance
What are the defenses to the enforceability of a mortgage?
- Mortgagor-Borrower - (a) mistake, (b) duress, (c) failure of consideration, (d) fraud, (e) lack of capacity, (f) usury, (g) statute of limitations
- Transferee Assume Mortgage - (a) donee can raise borrower defenses, (b) purchaser cannot
- Transferor-Surety - benefit of modification; BUT can’t raise defenses specific to transferee, eg: BR
