Property

Question 1

Indefeasible interest

Answer 1

not subject to early termination

Question 2

type of indefeasible interest

Answer 2

fee simple absolute

life estate

Question 3

fee simlpe absolute

Answer 3

to A and his heirs

to A

Question 4

Life estate

Answer 4

to a for life

to a for the life of b

Question 5

Defeasible interest

Answer 5

allows a fee simple or life estate to be terminated if a stated event occurs

Question 6

Determinable defeasible interest

Answer 6

for so long as
until
while
during
automatically REVERTs back to the grantor

Question 7

subject to the condition subsequent

Answer 7

but if, upon the conditon that

subject to the grantors right of entry which must be excercised

Question 8

subject to an executory interest

Answer 8

to A for so long as… if not to be
to a, but if…. to be

divests in favor of a third party

Question 9

Reversion

Answer 9

grantor transfers a shorter estate than she owns (fee simple transfers a life estate

Question 10

Possibility of reverter -

Answer 10

grantor transfers a determinable estate

Question 11

Right of entry (power of termination

Answer 11

reversed on the grant of an estate subject to a condition subsequent

Question 12

Interests created in a transferee

Answer 12

execurtory interests
remainders
class gifts

Question 13

Executory interest

Answer 13

cuts short the prior estate

Question 14

Remainder

Answer 14

possessory only on the natural termination of the prior estate (death of the life tenant)

Vested if made in an ascertained person adn with no conditons precedent, otherwise are contingent

Question 15

Class gifts

Answer 15

Remainders in a class are contingent if no member of the class yet exists, vested if all possible members exist, nad vested subject to open if more members miught come to exist

Question 16

RAP

Answer 16

a. Any future interest that is not certain to vest or fail within a life in being plus 21
years is void
b. Applies to contingent remainders, executory interests, class gifts (even if vested
remainders), options and rights of first refusal, and powers of appointment
c. Does not apply to vested interests, grantors’ reversionary interests, or gifts
between charities
d. Only the interest that violates the Rule is stricken (severed from the disposition)

Question 17

RAP Cases that always violate the common law Rule:

Answer 17

1) Executory interest following a defeasible fee—executory interest is stricken2) Gift to an open class conditioned on members surviving to an age beyond
21—entire class gift is stricken (“bad as to one, bad as to all”)
3) Remainder to A’s children living at his widow’s death (“unborn widow”
problem)—contingent remainder is stricken
4) Gift conditioned on an administrative contingency is stricken
5) Options that might be exercised (not created) later than the Rule’s period
are stricken

Question 18

Tenancy for years

Answer 18

Fixed perioid of time, created expressly and ends automatically on the termination date

Question 19

Periodic tenancy

Answer 19

fixed perioid that continues for succeeding perioids (month to moth)
Created expressly when a lease draws to a periodic rent payments and is terminated on proper notice

Question 20

Tenancy at will

Answer 20

No stated duration, as long as parties desire

created expressly, terminated on proper notice

Question 21

Tenancy at sufferance

Answer 21

tenant remains in possession after tenancy expires

landlord cant evict or create periodict tenancy by accepting rent

Question 22

Nonpossessory interests

Answer 22

easements
profits
real covenants
equitable servitudes

Question 23

Affirmative easement

Answer 23

right to use someones land

Question 24

negative easement

Answer 24

right to prevent something on another’s land

Question 25

Easement appurentant

Answer 25

involves two tracts of land

1) Dominant parcel has the benefit, which runs to grantees
2) Servient parcel has the burden, which runs to grantees with notice

Question 26

Easement in gross

Answer 26

one tract of land

Question 27

Creation of easement

Answer 27

express grant or reservation
implication (by use existing before tract was divided) or (by necessity)
Prescription - acquired through adverse, open and notorious, and continuous use for the statutory period

Question 28

Terminaiton of easement

Answer 28

can end by stated condition, unity of ownership
between easement and servient estate, abandonment, estoppel, prescription,
necessity, release, or condemnation

Question 29

Profit easement

Answer 29

right to enter anoter’s land to remove rpducts of te soil

Question 30

Real covenant (run with the land at laW)

Answer 30

a. Written promises to do or refrain from doing something on land, with a usual
remedy of money damages
b. Requirements for burden to run to later grantees: intent, notice, horizontal
privity, vertical privity, touch and concern
c. Requirements for benefit to run: intent, vertical privity, touch and concern

Question 31

Equittable servitude

Answer 31

An equitable servitude is an agreement or contract between two or more parties that limits their use of property. An equitable servitude benefits and burdens the original parties to the agreement as well as their predecessors. Some examples of equitable servitudes are:

A promise to maintain a property as an open park
A promise to use property for residential use only
A promise not to build tall buildings on the property

Question 32

Equittable serivitude

Answer 32

a. Covenants with equitable remedies (i.e., injunction, specific performance)
b. Implied from a common scheme for development if notice exists
c. Requirements for burden to run: intent, notice, touch and concern
d. Requirements for benefit to run: intent, touch and concern
e. Equitable defenses apply (i.e., unclean hands, estoppel, acquiescence, changed
neighborhood conditions)

Question 33

Equitable Serv. requirments for burden to run

Answer 33

intent notice touch and concern

Question 34

Equit. Serv. requirements for benefit to run

Answer 34

intent touch and concern

Question 35

SOF land sale contract exception

Answer 35

no writing is required if buyer has partially

performed through possession, improvement, or payment

Question 36

Conveyancing

Answer 36

Statute of Frauds Applies—Requires Writing Signed by Grantor)

Question 37

Land sale contract marketable title

Answer 37

contracts contain an implied covenant that seller will deliver
title free from an unreasonable risk of litigation at closing (i.e., when purchase
price and deed exchanged)

Question 38

Deeds

Answer 38

a. Must evidence an intent to transfer land and adequately describe the land and
parties
b. Effective on delivery (i.e., words or conduct showing the grantor’s intent to
immediately pass title) and acceptance (often presumed)

Question 39

Types of Deeds

Answer 39

General warranty deed—covenants against any title defects created by the
grantor or prior titleholders
2) Special warranty deed—covenants against title defects created by the
grantor
3) Quitclaim deed—no covenants; transfers whatever interest grantor has

Question 40

Will

Answer 40

. Effective on the testator’s death
b. If, at the testator’s death, she no longer owns property that was specifically
devised, that gift fails (i.e., is adeemed)
c. If, at the testator’s death, the beneficiary has already died, his gift fails (i.e.,
lapses) or might pass to the beneficiary’s descendants under an anti-lapse
statute if he and the testator were related

Question 41

Adverse possession

Answer 41

Possessor must show: (i) actual entry giving rise to exclusive possession that is (ii)
open and notorious, (iii) adverse/hostile (i.e., lacking the owner’s permission), and (iv)
continuous throughout the statutory period for an ejectment action (e.g., 20 years)
2. The statute does not begin to run if the owner is under a disability to sue (e.g.,
incapacity) when the possession begins

Question 42

Concurrent cotenant interest

Answer 42

All co-tenants share the right to possession and enjoyment of the property

Question 43

Joint Tenants

Answer 43

—two or more co-tenants with rights of survivorship (i.e., the dead
co-tenant’s share passes to the remaining co-tenants)
a. Created expressly, severed by a tenant’s sale or suit for partition

Question 44

Tenants by the entirety—

Answer 44

two spouses with rights of survivorship
a. Created expressly or presumed in some states by a grant to spouses, severed
by divorce

Question 45

Tenants in common

Answer 45

two or more co-tenants, no right of survivorship

a. Created by the severance of the above tenancies
b. Default co-tenancy created if nothing else was specified

Question 46

B. Competing Interests—Grantor Transfers Same Land More than Once

Answer 46

Recording acts protect a bona fide purchaser for value without actual, inquiry, or
record notice of the prior conveyance (“BFP”)
a. Actual notice—what the grantee actually knows
b. Inquiry notice—what a reasonable inquiry would have revealed
c. Record notice—what a search of the real property records would have revealed

Question 47

2. Types of recording acts

Answer 47

a. Notice statutes—later BFP wins if earlier grant was not recorded
b. Race-notice statutes—later BFP wins only if she records before the earlier
grantee records
c. Race statutes—first to record wins; actual notice is irrelevant

Question 48

A. Mortgages (Land Is Collateral for a Debt)

1. Theories of title

Answer 48

a. Lien theory—mortgagee holds a security interest only
b. Title theory—mortgagee holds title until mortgage is satisfied
c. Intermediate theory—mortgagee holds title only after default

Question 49

2. If mortgagor transfers mortgaged land

Answer 49

a. Grantee may agree to assume the mortgage and become primarily liable to pay
the mortgage loan
b. Grantee who does not assume the mortgage is not personally liable for the loan
but may lose the land if the transferor defaults

Question 50

Fixtures

1. Fixtures are

Answer 50

items so affixed to land that they become part of the realty
a. Constructive annexation—items not physically attached to land are fixtures
if they are so uniquely adapted to the real estate that it makes no sense to
separate them (e.g., keys to doors)