Property

Question 1

Tenants in common (natural resources)

Answer 1

Right to possess entirety including natural resources.

Question 2

Life tenant liability for 3rd party damage

Answer 2

A life tenant is not responsible for damage caused by a third-party tortfeaser. Thus, the general rule that a life tenant has a duty to reasonably repair the property does not apply in this case

Question 3

Life tenants duty to pay

Answer 3

Insurance, taxes, and interest on mortgage to the extent that proper turns a profit

Question 4

Co-tenant buy back

Answer 4

Cotenants have a fiduciary obligation between each other, such that if one cotenant buys back his property at a tax or mortgage foreclosure sale, the other cotenants can reacquire their original interests by paying their due contributions on the tax deed

Question 5

Co-tenant duty to pay rent

Answer 5

Not required

Question 6

MBE right to reimbursement for repairs/improvements

Answer 6

No right but can get credit at partition

Question 7

MBE co-tenants and necessary expenses (interest/taxes)

Answer 7

Can seek contribution

Question 8

Ny destructible contingent remainders

Answer 8

Not recognized

Question 9

NY RAP modification

Answer 9

Ladies over 55 can’t give birth

Question 10

NY ameliorative waste

Answer 10

Ok if:

Appropriate, value enhancing, not prohibited, for 5 years and wi 30 days notice

Question 11

NY effect of lien on joint tenancy

Answer 11

No severance

• only default or foreclosure

Question 12

NY assignment/sublease

Answer 12

Assignment - deny for any reason

sublease - requires consent but cannot arbitrarily deny

Question 13

Equitable servitude

Answer 13

“i) There must be intent for the restriction to be enforceable by successors in interest for the benefit to run and enforceable against successors in interest for the burden to run;

ii) The servitude must touch and concern the land; and
iii) The person against whom the servitude is to be enforced must have notice (whether actual, record, or inquiry notice) of the servitude.”

Excerpt From: Themis Bar Review, LLC. “Real Property Distinctions.” Themis Bar Review, LLC, 2013-03-06T07:00:00+00:00. iBooks.
This material may be protected by copyright.

Question 14

Convenant

Answer 14

Writing
Intent to run with land
Touch and concern
Notice (burden only)
Privity
- horizontal (burden)
- vertical

Question 15

Warranty of suitability

Answer 15

Cannot be disclaimed with general language

Question 16

Statutory redemption

Answer 16

jurisdiction may, by statute, provide a statutory right of redemption, which sets out an additional time period after the foreclosure sale during which the prior mortgagor and perhaps others have the option to pay a certain sum of money and redeem the title to the property

Question 17

NY co-tenant reimbursement

Answer 17

• A co-tenant is entitled to reimbursement for reasonable repairs necessary to preserve or protect the property,
• but a co-tenant is not entitled to reimbursement for improvements made for the co-tenant’s own purposes or benefit without the agreement of the other co-tenants.

Question 18

Landlord duty to keep premises in good repair

Answer 18

landlords of multiple-family dwellings must keep properties in good repair.

• Tenants are also required by law to keep rented properties in good repair and may be held liable if damage is caused by the tenant’s acts or negligence, or by the acts or negligence of a third party under the tenant’s control.

Question 19

Specific performance after minor breach in sale of RP

Answer 19

whether specific performance is granted will depend on whether Defendant was capable of performing, and will not turn on the fact that a late installment payment was made.