Property Flashcards
A FSD is always followed by a:
Possibility of reverter, which is automatic upon happening/not happening of stated condition
“For so long as” is what kind of language
Durational, so a Fee Simple Determinable
A Fee Simple Subject to Condition Subsequent is created when:
The grantor retains the power to terminate the estate (right of entry) on the happening of the stated event
Not automatic, right must be exercised by grantor jumping through some hoops, like filing an ejectment action
Chartiable Exception for RAP
A future interest granted to a charity that might not vest w/n 21 years of the measuring life will still be valid if the conveyance is by a charity to another charity
T/F: A possibility of reverter is subject to RAP
False. If a FSD has a condition that violates RAP, strike it out and keep the conveyance that does not violate RAP
The most common way that RAP gets tested is through:
A first right of refusal
What makes a first right of refusal void?
If it is held by unascertainable people
ex: “to her heirs and assigns”
When a JT sells all or part of their interest in a JT, what is the result?
The JT is terminated and a TIC results if there is no right of survivorship in a TIC
Under the ____, a periodic tenancy will result when a tenant overstays their lease
Holdover Doctrine
The first question to ask yourself in analyzing a hold-over tenant question is:
Is this a commerical lease/tenant or a residential lease/tenant?
Under the hold over doctrine, a residential lease will continue ____ when the tenant overstays
Month-to-month
Under the hold over doctrine, a commerical lease will continue ____ when the tenant overstays
Identical to the terms of the perveious written lease but cannot exceed 1 yr under the SOF
Under the hold over doctrine, a tenant who received notice of a rent increase will have to pay:
The increased rent rate
Under the hold over doctine, a tenant who did not receive notice of a rent increase will have to pay:
The amount they were already paying
An assignment arises when a T:
Transfers possession of the property for the remaining balance of the lease
OG tenant is always on the hook for rent in an assignment bc they are in privity of K
An assignee will be liable to the landlord for rent so long as:
They are in possession of the premises. If they assign to someone else and vacate, they are off the hook
Once an easement has been recorded, the right to the easement can always be exercised by:
the buyer or their heirs
T/F: A person needs actual notice of an easement in order to assert that they knew/didnt know about it
False. Notice can be given through actual, constructive, or inquiry notice.
A properly recorded easement cannot be rebutted
A profit (appurtent or in gross) is a ____ in land that allows the holder to enter the servient tenanment to remove:
Non-posessory interest
Minerals, oils, substances from the land
A profit appurtenant benefits the:
Dominant Estate.
A profit appurtenant cannot be transfered without the dominant estate
A profit in gross does not benefit:
The dominant estate
Can be transferred independent of the transfer of the dominant estate
Define Fixture
A chattel that has become attached to the real property
A ___ fixture allows a tenant to remove all fixture prior to the lease expiring
Commercial
Exception: accessions cannot be removed
An accession is a ___ addition to the real prop
Structural
Deck, loft, blacony, beams
Prescriptive easements and adverse possession both require:
Hostility
Because delivery of a deed cannot be canceled, the friend’s return and subsequent destruction of his deed has no effect.
A warrany deed carries with it 6 covenants total, 3 pReSeNt and 3 FEWture.
pReSeNt
1. Right to convey,
2. the covenant of Seisen (both of these essentially meaning that the seller guarantees he owns the land he is selling), and
3. the covenant against encumbrances (“no encumbrances”—that is, there are no existing easements, liens, or encumbrances that are not stated in the deed).
FEWture
4. Further assurances,
5. quiet Enjoyment, and
6. covenant of Warranty
Doctrine of Merger
On the closing date, the contract for sale merges into the deed, so at that point, the terms of the deed ultimately controls
Land Sale K
Under the Doctine of Caveat Emptor, There is no implied warranty of fitness and habitability in land sale contracts unless:
the seller is also a new-home builder, in which case he can be held to a workman like construction standard
Not all courts have extended the implied warranty of latent defects to remote grantees. Courts that apply a privity bar have typically done so on the ground that the warranty is contractual in nature and thus should only run in favor of parties in privity with each other. Other courts, perhaps influenced by the foreseeability standards of tort law, but also relying on the equal vulnerability of both initial and remote grantees, have extended the warranty to subsequent purchasers
Mortgages
The predominant rule in the United States is that if a remote grantee takes subject to a mortgage which the grantee does not assume, then the remote grantee (is/is not) personally liable on the debt
IS NOT
However, In some jurisdictions, a remote grantee who did not expressly assume a mortgage may be deemed to have impliedly assumed it if they continue to pay the seller only the difference between what the house was worth and the outstanding balance on the mortgage obligation. Touch on both approached
Deeds
If a seller conveys land on which there is an unsatisfied encumbrance such as a mortgage, and that encumbrance has priority against the buyer, the seller is liable to the buyer for any loss borne by the buyer only if:
the seller warranted that there was no such encumbrance against the property.
AP
To acquire title by adverse possession, the possession must be:
- actual
- hostile
- open and notorious
- exclusive
- continious
AP
To be actual, acts of possession must be:
Consistent with how a reasonable owner of land would have used if in possession
AP
To be open and nototrious, possession must be:
such that they would put an owner on notice of the adverse possession
AP
Hostility is present when:
A posessor is on the land without the owner’s permission
AP
When multiple adverse possesors are in privity with one another, the period of their respective possession can be:
FEB 2015
aggregated for the purpose of meeting the statutory period
Privity is a relationship between possessos arising out of a voluntary transfer between them, descent under laws of intestacy, or testamentary succesion as the result of a bequest
If an essay question asks you to “evalutate all arguments from X and Y” separate your headings into (1) X’s Argument and (2) Y’s argumet
Assignments and Subleases
Residential leases may contain restrictions on the tenant’s right to transfer or assign their lease without consent of the LL. However, a LL must not:
unreasonably withold consent to an assignedment without good cause
Assignments and Subleases
Surrender occurs when a tenant:
gives notice to a landlord, in writing, that they intend to vacate the premises and wont return
Assignments and Subleases
A landlords options after a tenant surrenders are:
Reject & accept
- Reject the surrender and hold the tenant over, continuing to charge them for rent
- Accept the surrender and treat the lease as ended
The LL must take steps to MITIGATE any losses that may arise from a tenant’s surrender if he plans on suing to recover unpaid rent
LL-Tenant
If a tenant breaches a lease by vacating a property before the lease is over and leaves written notice to the landlord to that effect, this is treated as a:
Surrender
If LL accepts surrender, T’s obligation to pay is extinguished
LL-Tenant
If a tenant breaches a lease by vacating a property before the lease is over and leaves written notice to the landlord to that effect, this is treated as a:
Surrender
If LL accepts surrender, T’s obligation to pay is extinguished
