property Flashcards
T/F: A tentant for life is entitled to all the ordinary uses and profits of the land during his life?
T
“so long as”
FSD
“while”
FSD
“during”
FSD
an FSD terminates upon the happening of a stated event and what happens with the grantor
it automatically reverts – FSDPOR
“provided that”
FSSCS
“but if”
FSSCS
“upon condition that”
FSSCS
An FSSCS comes with …
the right of re-entry but grantor has DISCRETION to cut the estate short
T/F FSSCS comes with automatic right of re-entry
False, grantor has discretion and must expressly reserve the right
Life estates with an accompanying future interest by O
reversion
Life estates with an accompanying future interest by 3rd party
remainder
T/F: when an executory interest is stricken, the grant becomes a FSD with possibility of reverter
T
Is the possibility of reverter subject to RAP?
No
The existence of an easement breaches the covenant against
encumbrances
A grantee being evicted by a 3rd party with paramount title breaches the covenant of
quiet enjoyment
What is a profit?
an allowance to enter the servient tenement and remove substances from the land
What is a profit appurtenant?
when the benefit is to the dominant estate
It cannot be transferred
What is a profit in gross?
does not exist to serve the dominant estate and can be transferred independently
What is an easement in gross
allows you to enter land and use it but NOT remove anything from the land
When can either side of a land sale demand performance?
once the land sale agreement is entered
T/F: Once you obtain property via adverse possession you can also transfer it to others
False, must go to court and obtain quiet title
when there is a mistake as to the description in a deed, what takes precedent?
The physical description takes precedent over the quantity description
What are the 6 warranties given in a general warranty deed?
3 present covenants: seisin, conveyance, encumbrances
3 future covenants: quiet enjoyment, warranty, further assurances
When a person assumes a mortgage what is their relationship with the prior owner?
They are jointly and severally liable with them to the creditor
If a co-tenant improves the property how much in contribution can he demand?
Nothing because co-tenants have no duty to improve and cannot force contribution for costs of improvements
Once a deed is delivered can it be canceled?
No, to get interest back the deed would need to be reconveyed
do real covenants run with the land?
yes
