Property

Question 1

Rule Against Perpetuities

Answer 1

Will the future interest vestor fail within 21 years after everyone then alive dies?
-Purpose: prevent remote vesting

Question 2

Assignment

Answer 2

transfer of ENTIRE leasehold balance

Question 3

Sublease

Answer 3

Transfer of LESS THAN the entire leasehold balance

Question 4

Easement

Answer 4

Right to use or do something on someone else’s

-no ownership

Question 5

Bona Fide purchaser

Answer 5

-pays value
-good faith
-without notice
to prevent RECORD your interest
recording statutes:
-notice = last always wins
-race notice = first to record wins