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Bar Exam Del Law > Prop Mod 1 + 2 > Flashcards

Prop Mod 1 + 2 Flashcards

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1
Q

Fee Simple - can pass how?

A

By:

  • Will / intestate
  • Gift
  • Sale
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2
Q

Fee Simple - Created (words)

A

** Default Presumption **
Also - to his heirs, or O to A
NOT - by hopes, wishes or dreams

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3
Q

Fee Simple Determinable (words)

A
  • Durational*

- So long as, while used as, during, Until no longer used

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4
Q

Fee Simple Subject to Condition Subsequent (words)

A
  • Conditional Language*
  • But if, then , provided, on the condition that
  • -> Grantor must then Exercises a right to take possession
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5
Q

Possibility of Reverter - what happens

A
  • Its an interest held by the GRANTOR following a Fee Simple Determinable
  • -> Vests Automatically at the end of the Duration
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6
Q

Right of Entry / Power of Termination

A
  • Its an interest held by the GRANTOR following a Fee Simple Subj. to Condition Subsequent
  • -> NOT Automatic , MUST be Reclaimed
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7
Q

Fee Simple Subj. to Executory Interest

A
  • Ends on the happening of an EVENT
  • -> Goes to a 3rd Party / NOT The Grantor

(Anna has a Fee Simple and Ben has an executory interest)

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8
Q

Executory Interest

A

Cuts short the interest b/c something happened they didn’t want to happen
(used as a liquor store, etc)

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9
Q

Life Estate - Reversion

A

Goes back to the GRANTOR at death of life est. holder

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10
Q

Life Estate - Remainder

A

Goes on to a 3rd PARTY at the death of the life est. holder

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11
Q

Waste - 3 kinds

A
  • Affirmative - purposefully caused
  • Permissive - Neglect
  • Ameliorative - Improvements
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12
Q

Vested Remainder

A 
NEED BOTH (if not then = Contingent) 
- Grantee = Known / Alive 
\+ 
- NOT subj. to a Condition Precedent
--> No conditions need to be satisfied prior to vesting
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13
Q

Contingent Remainder

A

Looks like Vested Remainder but fails one of the 2 elements
- Grantee = MUST fulfill a CONDITION to get it

  • If Doesn’t Vest before becomes possessory - then goes BACK to GRANTOR
  • Contingent remainder fails to vest
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14
Q

Vested Remainder Subj. to Open

A 
Vested Remainder in a CLASS GIFT
\+
Full Class = Unknown 
- 1 person must be Vested 
~ if nobody then = Contingent 
- Closes when Class = Known
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15
Q

RAP Applies

A

CEO CPR
C = Contingent Remainder
E = Executory interest
O = Option Contract

C = Class Gifts
P - Power of Appointment 
R - Restraint on alienation 
   1) Black Acre to A and his heirs so long as …..they never sell the prop
(Life + 21 yrs)
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16
Q

Rule of Convenience

A

Closes Class w/o a closing date when anyone is entitled to immediate possession

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17
Q

Rule Shelly’s Case

A

Prevents reminder in Grantee’s heirs
- to Shelly for life then to her heirs
Shelly = Fee Simple Absol.
Heirs = Nothing

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18
Q

2 kinds Executory Interests

Executives are jerks bc they cut interests short for themselves

A

1) Springing = Divests the Grantor (usually 2 Parties)
- Springs off of the Grantor
- Ben to Anna after she is admitted to the Bar
- Ben - Springs off him to –> Anna when she is admitted

2) Shifting = Divests the Prior Grantee
(usually 3 Parties)
Oliver to Anna but if land used for commercial to Ben
Shifts from Anna to Ben

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19
Q

RAP - when not violation

A

If you find the Validating Life– bc they’re known

– almost always wrong answer

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20
Q

RAP - violation

A

Strike the violating interest
Oliver to Annas for life , then to Anna’s 1st child who reaches age 22
- strike + now = to Anna for life

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21
Q 
RAP - class gifts
- Void as to one
A 
Void as to 1 then void as to all - even if vested 
- if one able to immediate possession then can close class and take it
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22
Q

RAP Exceptions

A
  • Charity to another Charity
  • Options to purchase interest in leasehold
  • Option of first refusal in commercial
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23
Q

3 kinds of multiple owners of Land

A

Right to use / possess the whole (can contract out)

  • Tenancy in Common
  • Joint Tenancy
  • Tenancy in the Entirety
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24
Q

Tenancy in Common

A

** Default**
Equal Rights
No Right of Survivorship

25
Q

Joint Tenancy

4 Unities

A

Right of Survivorship
Must be clear intent and LANGAUGE

4 Unities Required: PITT

Possession - equal rights to possess the whole
Interest - Must be Equal Shares of same type
Time - Must receive at the same time
Title - Must receive on the same instrument of title
(if NOT all 4 then = something else ~ TinC)

26
Q

Joint Tenancy - Severed

A

Any transfer severs it and becomes TinC

  • Any lien terminates upon death so that not encumbered for survivors -
  • Mortgage = Lien Theory - majority = Does NOT Destroy the JT
27
Q

Tenancy by the Entirety

A

ONLY Married People
- right of survivorship
- Cannot alienate
w/o consent

28
Q

Ouster

A

Co-tenant denies entry (puts locks on)
- must ask for entry , then get
Remedies: injunction or Damages

29
Q

Rent , expenses, repairs, improvements

TinC

A

Rent, Expenses = divided in % of interest (can collect contribution)
Repairs, Improvement = no right to reimbursement (can get credit at partition)

30
Q

Partition by Ct

A

Will divide unless physically impossible or unfair ~ forced sale

31
Q

Discrimination - when and usually type of property

A

Sale, rental, financing, advertisement

- Multi - Family Dwelling

32
Q

FHA 3 Exceptions

A
  1. w/o a Broker
  2. Owner occupied w/ 4 or less units
  3. Religious or Private Clubs
33
Q

FHA - Protects from

A

refusing, requiring different, denying availability, different services - in rents , sale , etc.

  • protects Disparate Treatment AND Impact
    • MUST be Linked –
34
Q

Leases - 4 types

A
  1. Tenancy for Years
  2. Periodic Tenancy
  3. Tenancy at Will
  4. Tenancy at Sufferance
35
Q
  1. Tenancy for Years
A
  • Created - by agreement for any ascertainable period of time (month, 6 months, year, 5 yrs)
  • Longer than 1 Year = in writing + signed
  • Terminates - Automatically ! Tennant can surrender or commit a material breach (not pay)
36
Q
  1. Periodic Tenancy
A
  • Repetitive and ongoing for time (month to month)
  • Renews Automatically until NOTICE of termination
  • 1 PERIODS NOTICE
  • NOTICE = effective on last day of period ..next if in middle
  • Created ~ Express or Implied
37
Q
  1. Tenancy at Will
A
  • Terminated at ANY TIME by either
  • created: Express or Implication
  • -> implication - if only Landlord given right to Terminate ~ Tenant can too
  • -> BUT if only Tenant given right ..then NOT LL too
38
Q
  1. Tenancy at Sufferance
A

Hold over tenant

  • LL can either evict or re-rent to Tenant
  • Created by actions of the tenant
  • Terminates when Tenant leaves , eviction, re-rent
  • -» If re-rent ~ then rent is same unless Prior to old expiration notified tenant
39
Q

Duty to Pay Rent is suspended - 3 situations

A
  1. Premises are destroyed - not by tenant
  2. LL Evicts - full or part
  3. LL Materially Breached lease
    - Implied Covenant of Quiet Enjoyment
    - Implied Warranty of Habitability
40
Q

Implied Covenant of Quiet Enjoyment (4 elements)

A

Substantially unsuitable for the intended purpose
+ Constructively Evicted

1) Unusable for intended purpose
2) Tenant notifies the LL
3) LL doesn’t correct
4) Tenant (MUST) vacate after reasonable amount of time

41
Q

Implied Warranty of Habitability

A

Health + Safety

  • can NOT be Waived
  • Housing Code failure = Breach
  • Residential ONLY
  • When not habitable*
    ~ Refuse to Pay (Notify + give time to fix)
    ~ Remedy Defect and offset costs
    ~ Defend against Eviction
42
Q

LL - Duty after Tenant leaves early

A

Duty to mitigate – attempt to re-rent to offset costs

43
Q

LL Duty to deliver premises

A

Maj = Deliver physical possession (comes up in holdover tenant situations )

44
Q

LL has to control and make safe the …

A

common areas + Nuisance tenants

45
Q

Assignment vs. Sublease

A 
Assignment = the whole remaining term
Sublease = part of remaining term
46
Q

Assignment - Rent collection from who?

A

EITHER

tenant or new tenant

47
Q

Sublease - Rent collection from who?

A

ONLY the Tenant

48
Q

Sublet or Sale - permission to do so

A

LL - does NOT need permission
Tenant - only needs permission if required in lease
- LL can only deny for commercially reasonable reason - Can deny for Financial Inability to pay or Criminal Record

49
Q

> > After assignment by the LL to new LL - permission to change terms of lease

A

required b/c lease not up

50
Q

Contingent remainders = die ….

A

w/ the holder

51
Q

Who Pays (life tenants):

  1. Interest on a Mortgage
  2. Mortgage Principal
  3. Insurance on the Property
  4. Who is entitled to rent
A
  1. The Life Tenant
  2. The Remainder Man
  3. The Remainder Man
  4. Life Tenant
52
Q

In Lien Theory state, does a mortgage by one joint tenant destroy the tenancy ?

A

NO - does NOT destroy the tenancy

53
Q

Uniform Vendor and Purchaser’s Risk Act
vs.
Equitable conversion

A
  • Uniform Purchaser = risk of loss of property between contract and sale is on SELLER
  • Equitable Conversion = risk is on BUYER
54
Q

Exoneration - assuming mortgage

A
  • C gives mortgage to A / A sells prop to B / B “assumed the mortgage” by promising to repay it
  • A became secondarily liable as surety.
    • C must first proceed against either the property or B (who is primarily liable) before asserting its rights against A
55
Q

Future Advance Mortgage

A

Line of Credit

  • Optional future-advance mortgage - does NOT have duty to advance funds (banks discretion when + how)
  • Obligatory future-advance mortgage. - Does have a duty to adv funds
56
Q

Future Advances Mortgage - Priority
* Optional Mort and if the mortgagee has notice
that a subsequent lienor has acquired an interest

A

then the advance loses its priority

** Requires Actual Notice (majority) **

57
Q

Nonconforming Use - Rules

A
  • Use permitted by zoning statutes or ordinances to
    continue, notwithstanding the fact that similar uses are not generally permitted
    a. justified to promote fairness and to protect the investment-backed expectations of owners
    2. May not be expanded or rebuilt after substantial destruction, but insubstantial changes are permitted
    3. Owners may make reasonable alterations to repair their facilities
58
Q

Mortgage modification - priority

A

Priority is UNAFFECTED by the modification agreement.

59
Q

Constructive Adverse Possession

A

when a possessor takes possession of a portion of a disputed tract of land, his adverse possession is sufficient to give him title to the ENTIRE tract of land, so long as there is a significant relationship between the portion of the tract actually possessed and the entire tract.
- “tacking” = if the subsequent possessor is in privity of estate (intentional transfer of poss.) with the prior possessor

Bar Exam Del Law (21 decks)

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