Property Flashcards
Can a bonafide purchaser (BFP) rely on a forged or altered document?
No because the document is void is forged or altered
A buyer who enters a contract for the sale of land expects to receive the property worth its fair market value in exchange for the contract price.
If the seller breaches by refusing to sell, what can the buyer recover for the loss of the bargain?
If the seller breaches by refusing to sell, the buyer can recover for the loss of bargain which amounts to the properties fair market value on the date of the breach minus the contract price
Define inquiry notice
Inquiry notice exist if a buyer knows or should know of circumstances, it would prompt a reasonable person to investigate the ownership of the property
A few simple determinable is a defeasible fee created with duration language. (So long as) what is the presumption upon the terminating condition?
The estate will automatically revert back to the grantor
Future interest are 
Alienable and the remainder can be freely conveyed
Does a life tenant owe a duty to prevent waste?
yes, a life tenant owes a duty to prevent waste so that the property can be delivered in essentially the same condition it was in when the life tenant took possession.
(This includes devising the property to someone for you life estate who will materially alter the property)
Subrogation allows a third party to take a senior mortgage priority when the third party
1) fully pays off the senior mortgage
AND
2) has no ACTUAL knowledge of junior interests
(Note: relevant inquires for factor two could be things like: whether another interest was senior, the no countervailing equities of another lien/mortgage, etc)
Is a deed presumed to be delivered if it has been recorded?
Yes, a deed transfers ownership of real property once it is delivered (presumed when it has been record) and accepted (presumed when the transfer benefits the grantee)
**After this occurs, the transfer is irrevocable
Define
In Appurtenant Easement
Tied to the land
Define
In Gross Easement
personal to the easement holder
When may a property owner continue with nonconforming use after a zoning change?
If they have a vested right.
A vested right occurs when the property owner has 1) secured any necessary permits in good faith, and 2) made substantial progress toward achieving the use.
Is a tenant who sublets liable for the entire harm from a breaching sublessee?
Yes.
Is a sublesee liable to a landlord?
Not for rent payment
Under common law, a landlord is responsible for injuries occurring as a result of hidden defects. Under the modern trend, what standard are landlords held too?
landlords are held to a general duty of reasonable care, and a landlord may be liable for failure to make repairs.
A buyer is presumed to have taken the property subject to the mortgage (no liability) - is this true even if the buyer knew about the mortgage?
Yes.
Define implied reciprocal servitude
1) there must be intent to create a servitude on all real property interests (common scheme)
2) the servitude must be negative (promise to refrain from doing something), and
3) the party agianst whom enforcement of the servitude is sought must have acutal, reocrd, or inquiry notice.
Does a express equitable servitude need to be in writing?
Yes.
When a property owner proposes to use her property in a manner that does not conform with the uses permitted by a zoning ordinance - what must they request?
A variance
Define
Private Nuisance
a substantial, unreasonable interference with another individual’s use or enjoyment of his property.
Interference may be intentional, negligent, reckless, or the result of abnormally dangerous conduct.
In order for interference to be unreasonable in a private nuisance action what must it be
the injury to the property owner must outweigh the usefulness of the actions
What is the doctine of ademption by extinction?
causes a devise of a specific asset to fail if the testator does not own it at the time of death.
proceeds of the sale of the asset then become part of the general estate
When there is conflict-of-law issue in a case involving real property - what is the general rule on which states law controls?
The state where the property is located provides the applicable law (situs state)
This includes property indispute through a will
Who do insurance policies protect?
1) named insureds
2) named insureds heirs and devisees who own the property
3)persons who receive the insured property from the named insured or the heirs or devisees by warranty deed
What is the standard for granting a variance?
1) the variance does not deviate from the comprehensive zoning plan and
2) compliance with the zoning ordinance would cause the landowner unnecessary hardship
True or false: a landowner’s claims of unnecessary hardship will often be rejected when the hardship is self-imposed.
True
Is a several years to long to bring a breach warranty of suitablility claim?
Yes.
Can the warrant of suitability be disclaimed?
NOPE
Does an oral condition not in the deed restrict rights ownership?
No. (and Parol Evidence is not admissible and condition is not enforceable.)
Once a developr has relinquished control, does an association have the power to terminate without penalty any contract or lease between the association and the developer, or an affiliate of the developer?
Yes, they can terminate without penalty
Does an easement by necessity require that the parcel previously have been one parcel that was then split up?
Yes.
What is easement by prescription?
Easement by adverse possession.
Must have been continuous, actualy, open and hostile for the statutory period
Is a contract based on fraud void or voidable?
Voidable
A mortgage obligation incurred before the creation of a life estate in the mortgaged property is subject to allocation between the life tenant and the future-interest holder.
The paries are not personally liable for the mortgage obligation unless they assumed the morgage, but failure to pay may result in
the lose of their property interest (through a foreclosure)
To rescind a contract, must the statute of frauds be satisfied?
in writing
No, recission does not need to be in writing
Can the Cy Pres doctrine be used to reform a conveyance to come as close as possible to the grantor’s intent (will staying in the bounds of RAP) even if it is not for a charitable gift?
YES
If you don’t have an easement to access the property, but have permission to be there - what are you?
You are a licensee
Generally licenses can be revoked at any time and terminate automatically upon
1) the death of either party
2) conveyance of the servient estate
Warranty deeds convey a grantor’s real property to a grantee with assurances that there are no defects.
Can a grantee always receive compensation for defending against a third party claim against the property?
No - only for lawful claims.
The rule is that under the convenant of warranty deed, the grantor of a warranty deed must defend and compensate the grantee for any lawful claims made against the grantee’s title.
Thus, if the third party claim is unlawful - then the grantor has not breach the convenant of warranty deed and is not required to defend or compensate.
In a joint tenancy, may a joint tenant grant a mortgage?
Yes, but may only do so with respect to their one interest not to the other tenant’s interest unless the other joint tenant has consented
If a joint tenant grants a mortgage on their portion of the joint-tenancy interest without the consent of the other joint tenant, what happens to the mortgage upon the death of the grantor tenant?
In a majority (lien theory) jurisdiction - mortgage expires upon death because the granting of a lien does not sever the joint tenancy
Must a court grant a partion upon request motion by one co-tenant?
YES, may require accounting as well
If a person enteres property under color of title and actually possesses a reasonable portion of the property for the statutory period, How much of the property do they adversely possess?
The entire property - under constructive adverse possession
they get title to the whole fucking thing
If an easement is recorded, then the lands merges, if the easement still extinguished?
YUP
