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FL Bar Exam Flashcards- MBE > Property > Flashcards

Property Flashcards

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MBE flashcards
1
Q

fee simple absolute

A

own property, 100%, forever

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2
Q

life estate

A

conveyance for life, has rights while alive, but NO WASTE

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3
Q

grantor

A

reversion

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4
Q

life tenant responsibilities

A

MUST pay interest and taxes

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5
Q

remainder

A

comes after life estate

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6
Q

vested remainder

A

you just get it, automatically get it, nothing stops you

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7
Q

Contingent Remainder

A

something must happen to get it

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8
Q

Vested Remainder Subject to Open (partial divestment

A

classes of people

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9
Q

Vested Remainder Subject to Total Divestment

A

then to but something can happen that will wipe out interest

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10
Q

Fee Simple Determination

A

SO LONG AS// AS LONG AS

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11
Q

Possibility of Reverter

A

grantor gets it back automatically

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12
Q

Fee Simple Subject to Condition Subsequent

A

“BUT IF” condition

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13
Q

Right of Re-entry

A

Grantor must do something to re-enter

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14
Q

Rule Against Perpetuities

A

interest must vest within 21 years in the life in being

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15
Q

Questions to ask if RAPs?

A

Could you get it within 21 years? Maybe? Not RAP. Not sure, NO. DON’T DO THE MATH

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16
Q

Executory Interest

A

violated RAPS, If property goes to someone else not grantor, violates RAPS, VOID interest

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17
Q

Joint Tenancy

A

right of survivorship

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18
Q

Conveying interest in Joint Tenancy

A

severs joint-tenancy into tenancy in Common, present conveyance

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19
Q

Joint-Tenancy vs Will

A

Right of survivorship wins over the will

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20
Q

One Joint Tenant Has a Debt

A

dies with persona, debt not with other Joint-Tenant

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21
Q

Tenancy in Common

A

no right of survivorship

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22
Q

Tenancy by the Entirety

A

joint-tenancy between married people, right of survivorship, ones spouse may not convey w/o other spouses’ consent. Severed by DIVORCE

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23
Q

Right of a Tenant

A

i. Each tenant has right to whole property unless ouster

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24
Q

Ouster

A

someone got kicked off

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25
Q

Partition

A

gets land divided, awarded unless it’s not practical

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26
Q

Contribution

A

Co-tenant who is paying the mortgage and the taxes may seek contribution from co-tenant, but if co-tenant is in sole possession, may only get extent that it exceeds the market value of the property

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27
Q

Rent

A

out of possession co-tenant may share in the rent and profits from property but cannot demand rent from tenant who is living on the land unless they are damaging the property

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28
Q

Repairs

A

co-tenant may not seek contribution for repairs on property, however if repairs necessary and requested but refused, co-tenant can get repairs

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29
Q

Improvements

A

one co-tenant may not seek contribution unless improvements increase rent or profits

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30
Q

Periodic Tenancy

A

has a start date, then period of time, generally renews unless there is a set end date, notice is required to terminate

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31
Q

Month to month Tenancy

A

1 month notice

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32
Q

Year to year Tenancy

A

6 months notice to vacate

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33
Q

Tenancy for Years

A

start date and a particular end date, no notice required.

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34
Q

Tenancy at will

A

no specific term until either party terminates, tenant needs reasonable amount of time

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35
Q

Tenancy at Sufferance

A

holdover tenant, parties will be bound by original terms of lease, tenancy ends with tenant leaves or gets kicked out

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36
Q

Landlord Duties

A
  1. Give actual possession on the 1st day of lease term, if not, lease is done
  2. Basic Repairs
  3. Warranty of Habitability
  4. Warranty of Quiet Enjoyment
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37
Q

Warranty of Habitability

A

if breach, tenant can refuse to pay rent, violation of codes, so oppressive that person cannot live on land

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38
Q

Warranty of Quiet Enjoyment

A

stopping other nuisance to disturb you so you can live on land, if not tenant can refuse to pay rent

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39
Q

Tenant Duties

A
  1. Pay rent, unless Landlord breaches warranties or property is destroyed
  2. No waste does not allow property to be destroyed, must give notice
  3. Ordinary repairs -make themselves
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40
Q

Assignment

A

new tenant primarily liable for rent, original tenant secondarily liable unless ovation

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41
Q

Sublease

A

original tenant stays liable to original landlord

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42
Q

Fair Housing Act

A

prevents discrimination in sale or rental of property in a home based on race, color, religion, sex, disability, family status, or being pregnant

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43
Q

Fixture

A

property that if removed would cause damage

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44
Q

Conflict of Laws in states

A

law of state where the property is located WINS, unless deed says otherwise

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45
Q

Easement

A

allowing not or not allowing someone on property

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46
Q

Express Easement

A

in writing

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47
Q

Easement By Prescription

A

looks like adverse possession, open, notorious, hostile, no need for exclusivity

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48
Q

Easement by implication

A

applied by prior use, land divided into 2

49
Q

Easement by necessity

A

no other way out

50
Q

Ways to end easement

A
  1. Agreement 2. Time expired 3. Merger 4. Abandonment
51
Q

Merger of Easement

A

one owner buys and now owns both pieces of land

52
Q

Abandonment

A

(1) nonuse and (2) show intent not to return

53
Q

Covenant

A

grants right to do, or restricts right. Contract. Promise for promise. Governed by contract principals. ALWAYS A WRITING

54
Q

Covenant Creation

A

always created by a writing

55
Q

How do you know covenant runs with the land?

A

(1) writing (2) intent between parties (3) notice (4) privity (5) touch and concern the land

56
Q

When will covenant not touch and concern land?

A

(1) Personal characteristic of individual, (2) a lease – it’s a contract

57
Q

Equitable Servitude

A

looks like a restrictive covenant, this is actually an injunction

58
Q

Implied reciprocal servitude

A

(other equitable servitude)– (1) common scheme + (2) notice , restrictions to all (gated community). ii. Restrictions keep on going as long as profile of community continues

59
Q

License

A

freely revocable by grantor

i. Exception – if coupled with interest then not revocable

60
Q

Profit

A

take stuff from the ground

61
Q

Taking

A

gov can take private property for public use and just compensation

62
Q

Water Rights Reasonable Use

A

water can be used reasonably

63
Q

Water Rights Crops

A

except in tenancy, runs with land

64
Q

Excavation - undeveloped property

A

strict liability

65
Q

Excavation - developed property

A

strict if damages would have happened anyway. if you let them then negligence standard

66
Q

Nuisance

A

interference with reasonable person’s use of land and property

67
Q

Public Nuisance

A

private plaintiff must prove special damages (otherwise gov makes it)

68
Q

Common Interest Owned Community

A

lot owners must pay dues

69
Q

Property Owners Association

A

owners required to belong and pay the dues

70
Q

Condominium Association

A

created by statute, file a declaration, and plat (describing physical boundaries and common areas)

71
Q

Condo Owners

A

own inside of unit, pay taxes, insurance, mortgage their own unit, own common areas as tenants in common with other owners

72
Q

Condo Association Rules

A

reasonably related to further legitimate purpose of Association

73
Q

Real Estate Contract

A

(1) intent to sell (2) basic contract terms (3) must be in writing (SoF)

74
Q

Equitable Conversion

A

(1) equitable title + (2) risk of loss on buyer

1. day of signing, transfer of equitable interest, seller still has legal title. RISK OF LOSS shifts to buyer

75
Q

Marketable Title

A

implied in EVERY real estate contract, free of encumbrances and liens

76
Q

Real Estate Contract Merger

A

contents of real estate contract merge into the deed, after merger must sue on deed

77
Q

Real Estate Contract Duty to Disclose

A

seller has duty to disclose defects that cannot be seen by buyer

78
Q

Purchase Money Mortgage

A

the loan used to buy the property, land is collateral

i. Always gets paid back 1st

79
Q

Redemption

A

trying to get property back after foreclosure,

80
Q

Equitable Redemption

A

(1) period of time from notice until foreclosure sale (2) NEVER WAIVED

81
Q

Statutory Redemption

A

after foreclosure sale, not automatically gotten.

82
Q

Lien Theory

A

resident has equitable interest, bank owns title, cannot sell

83
Q

Joint-Tenancy in Lien Thoery

A

mortgage does NOT sever tenancy

84
Q

Title Theory

A

resident has equitable interest, bank owns title, cannot sell

85
Q

Joint-Tenancy in Title Theory

A

mortgage severs the joint tenancy into a tenancy in common

86
Q

Subject to Mortgage

A

new buyer NOT liable for payments, old buyer owes no money but bank may still foreclose on old buyer

87
Q

Assumption of Mortgage

A

new buyer takes over payment, old buyer as secondary still liable unless novation

88
Q

Deed in Lieu of Foreclosure

A

giving deed to bank immediately instead of waiting for foreclosure

89
Q

Effect on Foreclosure sale

A

any junior mortgage will be wiped out as long as (1) notice given and (2) junior interests joined the suit

90
Q

Deficiency Sale

A

amount money not recovered from sale may be recovered from original buyer, amount recovered is what was owed after foreclosure sale

91
Q

Installment Contract

A

title only transfers after the entire contract balance is paid, if buyer defaults, seller may retake unless foreclosure proceeding rules that supersedes. Seller does not have to give marketable title until final payment

92
Q

Deed

A

legal title

93
Q

Warranty Deeds

A

6 warranties, 3 present, 3 future

94
Q

3 present warranties

A

breached on day of closing

  1. Right to Seisin – own
  2. Right to Convey
  3. Right - Covenant against encumbrances
95
Q

3 future warranties

A

will last forever

  1. Quiet enjoyment – no problem
  2. Warranty – defend
  3. Further assurances – fix defects
96
Q

General Warranty Deed

A

title good since forever

97
Q

Special Warranty Deed

A

all good since current owner had title

98
Q

Quitclaim Deed

A

no promises

99
Q

Valid Deed Requirements

A

i. Writing ii. Delivery iii. Acceptance iv. Merger
v. Legal Description of property
vi. Identifiable grantees

100
Q

Deed Delivery

A

from seller to buyer (1) intent, give up all control

101
Q

Deed Acceptance

A

is presumed, unless facts say otherwise

102
Q

Deed Merger

A

contract merges with deed

103
Q

Ademption

A

land left in will but during life, sold to someone else. Get nothing at death

104
Q

Lapse

A

if left something in will but you die before me, the your part goes back to residuary estate

105
Q

Adverse Possession

A

if elements met you get title, squatter (1) continuous for statutory period of time(2) actual, open, and notorious (3) hostile (4) exclusive.

106
Q

Tacking

A

when squatter intentionally gives right to someone else

107
Q

Executing a Deed - signatures

A

agent for the grantor may sign a deed on behalf of a grantor, but the authority granting the ability to do it has to be in writing

108
Q

Notice Statute

A

last BFP wins “SUBSEQUENT PURCHASER FOR VALUE WITH NO NOTICE”

109
Q

BFP

A

(1) pays value (2) no notice // bank/mortgagee is a BFP

110
Q

Not a BFP

A

(1) gift (2) will (3) adverse possession (4) creditor

111
Q

Race Statute

A

1st to record wins

112
Q

Race-Notce Statutes

A

1st BFP who recorded

113
Q

Shelter Rule

A

someone who would normally lose will win because the previous grantor will prevail, sheltered by the BFP

114
Q

Wild Deed

A

out of the chain of title, no double dealing.

115
Q

After-Acquired Title

A

(1) when grantor intends to convey but doesn’t have full title, (2) title automatically goes to end grantee when title is fixed.

116
Q

Dedication of land for public use

A

(i) dedication, and (ii) acceptance

117
Q

Offer of dedication

A

i) a written or oral statement, (ii) the submission of a map or plat showing the dedication, or (iii) the opening of the land to public use

118
Q

Offer of acceptance

A

(i) a formal resolution, (ii) the approval of the map or plat, or (iii) the actual assumption of maintenance or construction of improvements.

FL Bar Exam Flashcards- MBE (20 decks)

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