Property Flashcards
What are joint tenants’ and tenants-in-common’s rights and duties?
PADS: to possess the entire property, accountability (share rents from third parties), duty of fair dealings, and shared contributions (charges, taxes; improvements w/o approval paid on sale).
What is necessary to create an easement by implication?
CRAN: continuous use, reasonable necessity, apparent on inspection, and non alternative route (reasonable if granting, strict if reserving); also needs to have been under a single owner originally.
What terminates an easement?
LRAMPS: lack of necessity (if by necessity/implication), release (SOF), abandonment (intent, not just non-use), merger, physical blockage (stops prescription time), severance.
What is required for a real covenant to run with the land?
SPIT: SOF writing, privity (horizontal and vertical), intent to bind (implied if…), touches and concerns the land (not a personal service K).
What is required for an equitable servitude to run with the land?
SITS: SOF (in many states), intent to bind the land, touches and concerns the land, successor notice (actual/constructive/inquiry).
What are the defenses to enforcement of covenants and servitudes?
Estoppel (reasonable reliance on waiver), unclean hands, acquiescence (continuously allowing violations).
What terminates a covenant or servitude?
Agreement in writing, express or implied abandonment, merger, change of neighborhood conditions.
What must be included in a listing agreement?
DEWD: duration of the broker’s K, earned conditions (when commission is earned), writing, and sufficient description of property to be sold (not full legal).
What must be included in a purchase and sale agreement?
LIPP: legal description (accurate and on the face), identification of the closing entity (with title delivery method), price and method of payment, and the parties (with written evidence of any assignment). (Financing method and contingencies too?)
What must be included in a deed (or mortgage)?
SADD: SOF signed by seller (still may be SP w/o if possession, improvements, full/substantial payment), acknowledged (notarized), full legal description, delivery with intent to transfer ownership.
What warranties are in a statutory deed?
TAFED: title of seisin, authority/right to convey, free of encumbrances, quiet enjoyment, defend buyer against adverse claims.
What are a LL’s duties and a tenant’s remedies?
LL duties: delivery (possession/exclusive control), implied warranty of residential habitability, implied covenant of quiet enjoyment.
T remedies: for habitability, T can vacate/terminate/sue for damages, remain and seek damages, equitable relief, do repairs and deduct cost, w/hold rent into escrow (?); T can terminate/vacate w/ notice for actual or constructive ouster.
What are a tenant’s duties and a LL’s remedies?
T duties: pay rent, obey use restrictions, maintain premises (ordinary repairs, liable for alterations/guests’ damages), non-disturbance, tort liability (except for hidden defects).
LL remedies: if abandonment, accept surrender and take possession (T off hook), sue for each rent as it comes (may have duty to re-let/mitigate?), or re-let and collect the deficiency; if anticipatory repudiation, get total future rents if acceleration clause, or otherwise at accrual.
