Property Flashcards
What is a Joint Tenancy? How do you create it?
*JT is like a Tenancy in Common but with a right of survivorship
*today need specific survivorship language to create
*to create you need PITT:
P - Possession - each has undivided right to possess
I - Interest - each has identical interest
T - Time - acquired interests at same time
T - Title - rights created from same deed/will
Real Property Contract - Statute of Frauds requires the signed writing contain:
- Names of B & S
- Description of property
- Price
What excuses requirement of signed writing?
Part Performance (PIP) P - Payment I - Improvements to property P - Possession of property *payment alone is not enough *most commonly payment plus one other required
Different Types of Deeds: Quitclaim, Special Warranty, General Covenant and Warrant Deed (Full Warranty Deed)
- Quitclaim - grantor covenants to give only what he has
- Special Warranty - covenants only that grantor has not encumbered the property’s marketability during ownership period
- Full Warranty Deed - includes 6 covenants (SEC FEW)
General Covenant and Warrant Deed (Full Warranty Deed) - 6 covenants
(SEC FEW)
S - SEISIN - G possesses quantity and quality purported
E - covenant against ENCUMBRANCES
C - covenant of right to CONVEY
F - FURTHER assurances - G will clear up title if needed
E - quiet ENJOYMENT - no disturb by 3rd party interest
W - WARRANTY - forever warrants and will defend against legal attack
Adverse Possession - elements
Carol Only Eats Haribo (COEH)
C - continuous - in manner of true owner
O - open and notorious - so that owner would see
E - actual and exclusive - exclusion of owner and public
H - hostile - no permission
Adverse Possession - how hostility element negated
OPA
O - offers to buy land
P - permission to be there by owner
A - acknowledges true owner is O, not him
Types of Easements
PIGS
P - easement by PRESCRIPTION (adverse possession)
I - easement by IMPLICATION - implied from prior owners use. Usually arises when owner gives one part away (CRAB elements)
G - easement by GRANT - signed writing
S - easement by STRICT necessity - landlocked
**can be extinguished by “merger”
Easement by Implication - elements
CRAB
C - COMMON owner divides parcel
R - REASONABLY necessary/highly convenient
A - use was APPARENT upon reasonable inspection
B - prior owner used one part for BENEFIT of the other
Types of Fee Simples
SAD
S - fee simple SUBJECT to condition subsequent (BOP)/precedent
A - fee simple ABSOLUTE
D - fee simple DETERMINABLE (SUD)
Fee Simple subject to condition subsequent - language and grantor interest
- “to x and his heirs…” (BOP) but if, on condition that, provided
- grantor retains right of reentry
Fee simple determinable - language and grantor interest
- “to x and his heirs…” (SUD) so long as, until, during
* grantor retains possibility of reverter (immediate forfeiture by law if condition occurs)
Covenants running with the land - elements
PINTS P - privity of estate I - intent that it run with the land N - notice (CIA) T - "touch and concern" S - signed *no privity needed for equitable servitude
covenants running with the land - four types of scenarios
CANS
C - COMMON owner gives away part of land and covenant imposed for portion of land retained
A - covenant between ADJOINING land owners for mutual benefit (equitable servitude bc no privity)
N - grantor gives away all land and covenants for benefit of NEIGHBORS
S - common SCHEME or plan for the future benefit of all homeowners in housing development
Leasehold Estates (4 types)
- Tenancy for years - must be in writing if over a year
- Periodic tenancy
- Tenancy at will
- Tenancy at sufferance
Periodic Tenancy
- repeated similar period
- automatically renewed if no notice
- notice usually amt of pay period, but if its yearly then six months required
- arises if there’s an invalid lease (not signed) and L accepts payment. Can also arise if L accepts payment from tenancy at sufferance
ex: month to month lease
Tenancy at Will
- no fixed duration, voidable by either party at any time
- requires express agreement (otherwise treated as periodic tenancy)
- no notice required but reasonable demand to vacant premises is required
Tenancy at Sufferance
- default tenancy that arises when a tenant continues to possess after lease expires
- if L accepts rent it becomes a periodic tenancy governed by terms of expired lease
- if L doesn’t accept rent then T liable for fair market rental value of property. May also be liable for foreseeable consequential damages
Landlord Duties - Implied covenants in a lease
HEARS H - implied warranty of HABITABILITY (residential only) E - implied covenant of quiet ENJOYMENT A - ASSIGNABILITY R - good REPAIR (L in residential) S - minimal SECURITY precautions
Implied covenant of quiet enjoyment - how breached
*actual eviction
*constructive eviction (SING)
Substantial Interference
Notice
Goodbye!
**note that if tenant doesn’t want to leave they can sue for breach of implied warranty of habitability
Federal Fair Housing Act
- prohibits discrimination in the financing, sale, or rental on multi family housing on the basis of race, gender, religion, handicap, family status, mental disabilities
- advertisements indicating discrimination also unlawful
