Property

Question 1

Exclusion

Answer 1

Exercising the authority to keep others off the property

The exerciser must be the only one to claim ownership at that time, he may give to another, and adverse possession will continue so long as there is privity (tacking on)

Question 2

Open and notorious

Answer 2

Possession that puts a reasonably diligent owner on notice that a claim is being made. Actual knowledge that the property belongs to someone else is not required

Question 3

Hostile

Answer 3

Non permissive possession that is contrary to the owners interest as an owner. Making the kind of decision that an owner would make

Question 4

Continuous

Answer 4

Unbroken possession that is suited to the character of the property throughout the statutory period of time (All elements of adverse possession must be continuous)

Question 5

Tacking

Answer 5

A follow up trespasser. The rights that are attended to first trespasser are transferred to second

Question 6

Discovery rule for adverse possession of personal property

Answer 6

A cause of action will not accrue until the injured party discovers or by exercise of reasonable diligence and intelligence should have discovered facts which form the basis of a cause of action

Question 7

Is every property unique?

Answer 7

Yes, as a matter of law every property is unique. Because real property doesn’t move that is a unique defining characteristic

Question 8

Gift

Answer 8

A voluntary transfer of ownership that is intentional, delivered and accepted

Question 9

Elements of a gift

Answer 9

Intent- intention to make a present transfer
Delivery- actual delivery supported by intent
Acceptance- must be accepted with the intent to take

Question 10

Present covenants

Answer 10

seisin- the grantor warrants that he owns the estate that he purports to convey

Right to convey- the grantor warrants he has the right to convey

against encumbrances- there are no encumbrances on the property

Question 11

When does the statute of limitations begin to run in present covenants?

Answer 11

At the date of delivery of the deed

Question 12

Future covenants

Answer 12

General warranty- grantor warrants he will defend against lawful claims and will compensate the grantee for any loss that the grantee may sustain by assertion of superior title

Quiet enjoyment- grantee will not be disturbed in possession and enjoyment of the property by assertion of superior title

Further assurances- grantor promises he will execute any other documents required to perfect the title conveyed

Question 13

When does the statute of limitations begin to run on future covenants?

Answer 13

At the time of eviction or when the covenant is broken in the future

Question 14

Requirement of real estate brokers

Answer 14

Required to exercise fidelity and good faith and cannot put himself in a position antagonistic to his principal’s interest by fraudulent conduct, acting adversely to his client’s interest or by failing to communicate info possessed or acquired which is or could be material to the broker’s principal’s advantage

Question 15

Marketable title

Answer 15

A marketable title is one which is free from reasonable doubt and title is doubtful and unmarketable if it exposes the party holding it to litigation

Question 16

If the seller cannot produce marketable title then what?

Answer 16

He is entitled to a reasonable amount of time to cure the defect. Generally speaking this is until closing. At the moment there is a transfer of deed the sellers duties have been met and the purchaser cannot sue the seller for failure to produce marketable title

Question 17

Estoppel

Answer 17

Applies when unconscionable injury would result from denying enforcement of the oral contract after one party has been induced by the other seriously to change his position in reliance on the contract

Question 18

Estoppel rule statement

Answer 18

We can use estoppel to get out of the stature of frauds and enforce an oral agreement when there is 1) a promise of the type that is typically relied on and 2) detrimental reliance of that promise and 3) where equity has to intervene to prevent injustice

Question 19

Part performance

Answer 19

Allows specific enforcement of an oral agreement when particular acts have been performed in reasonable reliance on the contact and the continuing assent against whom enforcement is sought, has so changed his position that injustice can be avoided only by specific enforcement

Question 20

Part performance rule statement

Answer 20

We can get out of the statute of frauds if the sale of property was not in writing, when there is payment, possession or improvement that can only be explained by existence of an agreement

Question 21

Actual possession

Answer 21

Commitment of the land to a particular use or type of possession by entry, enclosure, improvement or some other type of domination