Property Flashcards
A (i) ____ _____ absolute is the largest estate recognized by law. It can be (ii) _____, divided, (iii) ________ or inherited, and is presumed to have an (iv) ______ duration.
(i) fee simple; (ii) sold; (iii) devised; (iv) indefinite
A defeasible fee is a fee simple that can be terminated. There are three types: (i) fee simple _________ (and possibility of reverter; (ii) fee simple subject to a condition ______ (and right of entry); and fee simple subject to an _______ ________.
(i) determinable; (ii) subsequent; (iii) executory interest
A fee simple determinable terminates upon the happening of a stated event and (i) ________ reverts to the (ii) _________. There is usually language like “for so long as,” “while,” or “during” or “until.” In contrast, words like “to be used for” or “for the purpose of” do not create a feee simple determinable, and are instead a basic fee simple.
(i) automatically; (ii) grantor
A fee simple subject to a condition ___________ carries a right of entry. The grantor must take some (i) ______ to terminate. Often uses words like “condition that” “but if”. The right of entry must be (ii) _______ reserved. In general, a right of entry is not transferable inter vivos, but it can be devised and it can destine.
(i) subsequent; (ii) action; (iii) expressly
A fee simple subject to an executory interest terminates upon the happening of a stated event and then passes to a (i) ______ party. The third party as an (ii) ______ interest.
(i) third; (ii) executory
A life tenant is entitled to (i) ______ use of the profits of the land, but cannot do anything that (ii) ______ the interest of a remainderman or reversioner. Voluntary (iii) _______ waste is only permitted if it is necessary to repair land, or if it was implied by the conditions of the grant. A tenant is obligated (permissive waste) to pay taxes and mortgage interest, to keep the land and structures in reasonable repair, and to hold insurance. A life estate may do ameliorative waste (improve) if it does not diminish the property value, and either (iv) the _______ do not object, or (v) a _______ and permanent change in the environment has deprived the property of its former use.
(i) ordinary; (ii) injure; (iii) affirmative; (iv) remaindermen; (v) substantial
A reversionary interest automatically vests, and therefore is not subject to the (i) ______–
RAP
A (i) _______ must be expressly created in the instrument that creates the prior possessory estate.
(i) remeainder
A (i) _______ remainder is one created in an existing and ascertained person, not subject to a condition precedent.
(i) vested
An (i) _______ vested remainder is a vested remainder that is not subject to divestment or diminution.
(i) indefeasibly vested
A (i) ___________ remainder subject to (ii) is created in a (iii) _____ of persons that is certain to become possessor ,but is subject to diminution.
(i) vested; (ii) open; (iii) class
A (i) _______ remainder subject to total (ii) _________ is one that is subject to a condition subsequent. Here, the remainder is vested, but if conditions are not met, the remainderman loses it.
(i) vested; (ii) divestment
A (i) ______ remainder is one that is created in an (ii) _____ or unascertained person, or one subject to a condition (iii) ________.
(i) contingent; (ii) unborn; (iii) precedent
A (i) _______ remainder is destroyed if it fails to vest before the termination of the prior freehold estate.
(i) contingent
Under the doctor of worthier title, (DOWT), a remainder in the grantor’s heirs is invalid and becomes a (i) ______.
(i) reversion
An executory interest that an divest a transferee’s proceeding freehold is a (i) _______ executory interest; whereas an executory interest that follows a gap in possession or cut’s short a grantor’s estate is a (ii) ______ executory interest.
(i) shifting; (ii) springing
A (i) _______ cannot follow a fee simple. If it’s a 3d party, it must be an executory interest.
(i) remainder
Vested remainders are fully (i) ______, descendable, and devisable. Generally, contingent remainders and executory interests are also descendable and devisable (and often transferrable)
(i) transferrable
Under the rule of convenience, and in the absence of any express contrary intent, a class closes when (i) _____ member of the class can call for distribution.
(i) some
A trust is (i) _____ relationship with respect to some specific (ii) _______ (res) where the trustee holds (iii) _____ title to the property subject to enforceable (iv) ________ rights of beneficiaries.
(i) fiduciary; (ii) property; (iii) legal; (iv) equitable
A trust can be created by (i) ________ (testamentary), by (ii) ____ _____ transfer of the trust res, or by (iii) inter vivos declaration that the settlor is holding property in (iii) _____. All trusts of real property must be in writing.
(i) will; (ii) inter vivos; (iii) trust
No interest in property is valid unless it must vest within (i) ______ years after some life in (ii) ______ at the creation of the interest. The RAP applies to (iii) _______ remainders, executory interests, vested remainders subject to (iv) __________, options to purchase, and rights of first refusal.
(i) 21; (ii) being; (iii) contingent; (iv) open
The rule against perpetuities does not apply to vested interested, which include (i) _____ remainders (other than to open), (ii) ____________ (and possibility of reverter), and rights of (iii) _______.
(i) vested; (ii) reversions; (iii) entry
A joint tenancy requires the four unities of (i) ______, (ii) ______, (iii) ________, and (iv) ________. A right of survivorship must be express.
(i) time; (ii) title; (iii) interest; (iv) possession
A co-tenant can retain all profits from her (i) _____ use. But she must share (ii) ____ rents from third parties and net profits.
(i) own; (ii) net
If a joint tenant has a mortgage, and dies, the banks’s mortgage is (i) _________, and the joint tenant inherits.
(i) extinguished
An co-tenant has a right to judicial (i) __________, either in kind or by sale and division.
(i) partition
A co-tenant has a right of contribution for (i) _______ and (ii) but generally not for (iii) _________-
(i) taxes; (ii) repairs; (iii) improvements
A tenancy for years terminates (i) _______ at its termination date.
(i) automatically
A periodic tenancy can be created by express agreement or (i) ________ based on the payment of rent, or by operation of law.
(i) implied
A tenancy at will can be terminated at the will of (i) ____ party. Absent express language, a tenancy will be assumed to be (ii) _______ tenancy, based on rent.
(i) either; (ii) periodic
A tenancy at (i) ______ is created when a tenant wrongfully remains in possession. It lasts until the landlord takes steps to terminate. Due to the hold-over doctrine, a landlord can either (ii) _____ the tenant, or (iii) _____ him to a new, periodic tenancy. For commercial tenants, they’ll be held to a (iv) ____-to-______ tenancy, provided that the initial term was for a year or more (or a periodic tenancy based on the frequency of rent payments if it was shorter). Residential tenants are held to a (v) _______-to-_________ tenancy, regardless of the original term. If the landlord notifies the tenant (vi) ________ the lease expires of a new rent, the new tenant is bound to the new rent.
(i) sufferance; (ii) evict; (iii) bind; (iv) year-to-year; (v) month-to-month; (vi) notice
The Rule Against Perpetuities does not apply to an (i) ____ attached to a lease.
(i) option
A tenant has responsibilities to avoid waste – (i) _____ (affirmative rate) from negligence of the premises; (ii) _______ was the from failing to protect the premises from the elements; (iii) _______ waste by altering the leased property (liable for cost of restoration). But if the tenant is long-term, and the neighborhood changes, no ameliorative waste damages.
(i) voluntary; (ii) permissive; (iii) ameliorative
If a tenant unjustifiable (i) ____ the property, the landlord has a duty to (ii) ______ damages by seeking to relet the property
(i) abandons; (ii) mitigate
The landlord has a duty to delivery (i) _____ of premises at the beginning of the lease hold.
(i) possession
The landlord gives an implied covenant of quiet enjoyment. It can be breached by (i) _____ eviction; (ii) ____ eviction; or (iii) _______ eviction, which occurs when the breach of duty renders the premises unsuitable for occupancy. To establish a claim for constructive eviction, the landlord must have (iv) _____ a duty, that breach (v) _________ and materially deprived the tenant of the use and enjoyment of the premises, the landlord had reasonable (vi) ________ and time to repair, and after such time, the tenant (vii) ______ the premises.
(i) actual; (ii) partial; (iii) constructive; (iv) breached; (v) substantially; (vi) notice; (vii) vacated
The implied convent of (i) _______ in a residential lease is not (ii) ________. The landlord’s duty is tied to standard of local housing codes. In the event of breach, the tenant may (iii) _______ the lease, make (iv) ______ and offset rent, (v) _______ the rent to an amount equal to the fair rental value in view of the defects; or (vi) _____ in possession, pay full rent, and sue for damages.
(i) habitability; (ii) waiveable; (iii) terminate; (iv) repairs; (v) abate; (vi) remain
The Civil Rights Act bars racial or ethnic discrimination in the (i) _____ or (ii) ______ of all property.
Sale or rental
The Fair Housing Act protects tenants from discrimination based on race, color, religion, national origin, sex, or disability. The Fair Housing Act does not apply to (i) _____-occupied buildings with (ii) _______ or fewer unites in which persons live independently of each-other, and (iii) ______-family homes sold or rented by an owner who owns no more than (iv) _______ single family homes.
(i) owner; (ii) four; (iii) single; (iv) three
Under the Fair Housing Act, a landlord cannot refuse to negotiate, (i) ______ or (ii) ______ housing, or make available a mortgage loan based on discriminatory intent. The landlord cannot provide different (iii) ______ or conditions for the sale or rental of the dwelling, or mortgage. And the owner cannot falsely (iv) _______ that a dwelling is not available for inspection, sale, or rental.
(i) rent, (ii) sell, (iii) terms, (iv) represent
Under the Fair Housing Act, it is unlawful to (i) ____ or publish any notice of advertisement that indicates any preference or limitation based on race, color, religion, sex, disability, familial status, or origin.
(i) print
Where the Fair Housing Act applies, landlords must permit disabled tenants to make (i) ______ modifications to existing premises to accommodate their disabilities at the tenant’s own expense.
(i) reasonable
Absent an express restriction in the lease, a tenant may freely transfer her interest, in whole or in part. A complete transfer is an (i) ____________; if the tenant retains any part of the term, it is a (ii) _________.
(i) assignment; (ii) sublease
An (i) ______ stands in the shoes of the original relationship, in a direct relationship with the landlord. The assignee is in privity of (ii) _______ with the landlord. After assignment, the original tenant is still within privity of (iii) _______.
(i) assignee; (ii) estate; (iii) contract
A covenant to a lease runs with the (i) _______ if the original parties so intent, and if the covenant (ii) _____ and concerns the land.
(i) land; (ii) touches
A sublessee is not in (i) ______ with the landlord. A sublessee cannot enforce any covenants, except for the implied warranty of habitability.
(i) privity
Covenants that restrict assignment and sublease are (i) _______ _______ against the landlord. So, a lease prohibiting assignment does not prevent subleasing and vice versa.
(i) strictly construed
If a tenant assigns or sublets in violation of a lease, the transfer is not (i) _____, however, the landlord may (ii) ______ and sue for damages.
(i) void; (ii) terminate
A landlord may assign the rents and reversion interests he owns (i) _________ the consent of the tenant.
(i) without
If a landlord sells his land, all covenants that touch and concern the land (including (i) ______-) go to the new owner.
(i) rent
If the landlord sells/assigns property, the new owner is liable for covenants that run with the land to the tenant under the privity of (i) _________, and the past owner under privity of (ii) _______.
(i) estate; (ii) contract
If a lease is extinguished by eminent domain, the tenant is entitled to (i) _______-
(i) compensation
If, at the time the lease is entered into, the landlord knows (or should know) of a danger condition that the tenant would not (i) _______ by reasonable inspection, the landlord must (ii) _______ it.
(i) discover; (ii) disclose
The landlord has a duty of (i) _______ care in maintaining common areas
(i) reasonable
A landlord is liable to injuries of the public, if at the time of th lease, he knows (or should know) of a (i) _____ condition, he has reason to believe the tenant may (ii) ______ the public (prior to repairs), and he fails to (iii) _____.
(i) dangerous; (ii) admit; (iii) repair
A landlord who rents a fully furnished premise for a short period is under a (i) _____ duty of care, and is liable for injuries resulting from any (ii) ______, whether known or unknown.
(i) strict; (ii) defect
Even if a landlord has no duty to make repairs, if he attempts to repair and does so (i) ____________ or gives a (ii) _______ appearance of safety, he may be liable for injuries.
(i) negligently; (ii) deceptive
A (i) _______ is chattel that is has become so affix to land that it has ceased to be personal property and has become part of the reality.
(i) fixture
When items are incorporated into the structure so that they lose their identity, they are (i) _________ whose removal would cause considerable damage
(i) fixtures
