Property Dist. Flashcards

1
Q

Limitations on Possibilities of Reverter and Rights of Entry

A

FL: Florida statute limits duration of reverters of forfeitures provisions to 21 years from the date of the deed conveying realty (Exceptions for conveyance to governmental, educational, literary, scientific, religious, public utility or transportation, charitable or nonprofit corporations).<br></br><br></br><br></br><br></br>MS: Statutes limit the permissible duration of possibilities of reverter and rights of entry to a certain number of years to foster marketability of title.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Fee Tail

A

FL: Florida follows minority view: any instrument purporting to create fee tail is deemed to create a life estate in the first taker with a remainder per stirpes to his lineal descendants in being at the time of his death. If there are no such remaindermen, remainder vests in any other remaindermen designated in the instrument. Absent such designation, reverts to original grantor or his heirs.<br></br><br></br>MS The fee tail limited inheritance to lineal descendants of the grantee. If no lineal descendants survived at the grantee’s death, the property either reverted to the grantor or her successors or passed to a designated remainderman.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Rule in Shelley’s Case

A

FL: The Rule in Shelley’s Case has been abolished.<br></br><br></br>MS At common law, where a freehold estate was given to A, and in the same instrument a remainder was limited to the ‘heirs’ or to the ‘heirs of the body’ of A, the purported remainder in the heirs was not recognized and A took both the freehold estate and the remainder.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Doctrine of Worthier Title (Rule Against Remainders in Grantor’s Heirs)

A

FL: The Doctrine of Worthier Title has been abolished in Florida. A remainder to the grantor’s ‘heirs,’ ‘heirs at law,’ ‘next of kin,’ ‘relatives,’ or ‘family’ does not presumptively create a reversionary interest in the grantor.<br></br><br></br>MS Under the Doctrine of Worthier Title, a remainder limited to the grantor’s heirs is invalid, and the grantor retains a reversion in the property. This doctrine is still applied to inter vivos transfers in a majority of states, but most states treat it only as a rule of construction.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Uniform Statutory Rule Against Perpetuities

A

FL: Florida has enacted the Uniform Statutory Rule Against Perpetuities, which generally adopts a 90-year alternate vesting period. Note that for property interests in a trust created after 12/31/00, the time limit is 360 years, instead of 90 years.<br></br><br></br>MS The Uniform Statutory Rule Against Perpetuities provides an alternative 90-year vesting period.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Termination of Periodic Tenancy ‘ Notice Required (FL)

A

FL: Florida has adopted the Uniform Residential Landlord and Tenant Act, which establishes notice and termination requirements for residential periodic tenancies. For nonresidential leases, Florida statutes make no distinction between a tenancy at will and a periodic tenancy. Both are included under the definition of tenancy at will.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Termination of Periodic Tenancy ‘ Notice Required (MS)

A

<br></br><br></br>MS A periodic tenancy is automatically renewed, from period to period, until proper notice of termination is given by either party. Many jurisdictions have statutorily prescribed the notice required to terminate a periodic tenancy. In general, the guidelines are as follows: (i) the tenancy must end at the end of a ‘natural’ lease period; (ii) for a tenancy from year to year, six months notice is required; (iii) for tenancies less than one year in duration, a full period in advance of the period in question is required by way of notice.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Termination of Tenancy at Will

A

FL: Florida statutes set forth time frames for required notice to terminate.<br></br><br></br>MS A tenancy at will may be terminated by either party without notice. However, a reasonable demand to quit the premises is required.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Holdover Doctrine ‘ Landlord Remedies

A

FL: Landlord may remove tenant only be means of action for possession filed in county court.<br></br><br></br>MS Landlord may treat hold-over tenant as trespasser and evict him under an unlawful detainer statute.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Holdover Doctrine ‘ New Periodic Tenancy (FL)

A

FL: Florida law does not permit landlord to bind a nonresidential tenant to new periodic tenancy if tenant holds over. If holding over is consented to in writing by landlord, tenancy at will is created. Holding over without written consent of landlord results in creation of tenancy at sufferance. For residential leases, Florida follows the majority view that a hold-over tenant will be bound to, at most, a month-to-month tenancy.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Holdover Doctrine ‘ New Periodic Tenancy (MS)

A

<br></br><br></br>MS Landlord may, in his sole discretion, bind tenant to new periodic tenancy. The terMS and conditions of the expired tenancy apply to the new tenancy. In commercial leases, if the original lease term was for one year or more, a year-to-year tenancy results from holding over. If the original term was for less than one year, the periodic term is determined by the manner in which rent was due and payable under the prior tenancy. In residential leases, most courts would rule the tenant a month-to-month tenant, irrespective of the term of the original lease.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Holdover Doctrine ‘ Collection of Double Rent

A

FL: Florida allows for collection of double rent when tenant holds over.<br></br><br></br>MS Many statutes provide that if tenant willfully remains in possession after term expires and landlord makes written demand for possession, landlord may collect double rent.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Tenant’s Liability for Covenants to Repair

A

FL: In Florida, the landlord’s obligation to make repairs under a residential lease may be altered or modified only in a lease involving a single-family dwelling or a duplex, not where multiple dwelling units are concerned.<br></br><br></br>MS In residential leases, even if the tenant covenants to repair, the landlord will usually be obligated to repair (except for damages caused by the tenant) under the implied warranty of habitability because the landlord’s obligations under that warranty are usually held not to be waivable.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Landlord Remedies ‘ Tenant Abandons

A

FL: Upon a residential tenant’s abandonment or surrender of the leased premises, the landlord may stand by and do nothing, holding the tenant liable for the rent as it comes due.<br></br><br></br>MS If the tenant unjustifiably abandons the property, the landlord has two options: she may do nothing or she may repossess. By the traditional view, the landlord may let the premises lie idle and collect the rent from the abandoning tenant, unless the tenant tenders an acceptable substituting tenant. The majority view, however, requires the landlord to make reasonable efforts to mitigate his damages by reletting to a new tenant.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Easement by Necessity (FL)

A

FL: In addition to recognizing common law rule of implied grant of way of necessity, Florida also has a statutory easement of necessity when any land outside any municipality that is used for dwelling or agricultural purposes is shut off or hemmed in by lands, fencing, or other improvements so that no reasonable route of entrance or exit is available. Owner or tenant may use and maintain an easement for persons, vehicles, stock, franchised cable television service, and any utility service. Statutory easement of necessity arises regardless of whether a unity of title exists from a common source. Owner of property on which easement is imposed is entitled to compensation.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Easement by Necessity (MS)

A

<br></br><br></br>MS When the owner of a tract of land sells a part of the tract and by this division deprives one lot of access to a public road or utility line, a right-of-way by absolute necessity is created by implied grant or reservation over the lot with access to the public road or utility line. An easement by necessity terminates when the necessity ceases.

17
Q

Easement by Prescription

A

FL: Statute regarding adverse possession establishes 7-year period of limitation. Statute does not refer to prescriptive easements, however, and the courts have held the common law 20-year limitation applicable to easements.<br></br><br></br>MS To acquire a prescriptive easement, the use must be open and notorious, adverse, and continuous and uninterrupted for the statutory period.

18
Q

Specific Situations Involving Real Covenants

A

FL: A ‘transfer fee covenant’ is a declaration or covenant recorded against the title to real property that requires the payment of a transfer fee to the declarant or other person upon a subsequent transfer of an interest in the real property. Transfer fee covenants recorded on or after July 1, 2008, constitute an unreasonable restraint on alienation, regardless of the duration of such covenants or the amount of such transfer fees, and do not run with the title to the property or bind subsequent owners.

19
Q

Adverse Possession Requirements

A

FL: Statutory requirement for adverse possession in Florida is seven years’ continued possession of the premises. Florida has adopted detailed statutory procedures, including notice from property appraiser to owner of record, to establish adverse possession without color of title.<br></br><br></br>MS To establish title by adverse possession, the possessor must show (i) an actual entry giving exclusive possession that is (ii) open and notorious, (iii) adverse (hostile), and (iv) continuous throughout the statutory period.

20
Q

Payment of Property Taxes Generally Not Required

A

FL: Payment of property taxes is a required element for establishing title by adverse possession where possession was entered into without color of title. <br></br><br></br>MS Only a minority of states require the adverse possessor to pay taxes on the property. However, in all states, payment of property taxes is good evidence of a claim of right.

21
Q

Attestation and Acknowledgment Generally Unnecessary

A

FL: Florida statutes require that real estate may only be conveyed by a written instrument signed in the presence of two subscribing witnesses.<br></br><br></br>MS Attestation by witnesses is generally unnecessary, as is an acknowledgment. But note: either or both might be required for the deed to be recorded.

22
Q

Recording Acts

A

FL: Florida has the pure notice type of recording act.<br></br><br></br>MS Types of recording acts ‘ notice statutes; race-notice statutes; race statutes.

23
Q

Purchasers Without Notice ‘ Actual Notice

A

FL: There is a presumption of lack of notice of an unrecorded instrument by a person subsequently acquiring an interest in the property. The burden is on the claimant under the unrecorded instrument to show actual knowledge.<br></br><br></br>MS The subsequent purchaser must show that she did not actually know of any prior unrecorded conveyance. ‘Without notice’ means the purchaser had no actual, record, or inquiry notice of the prior conveyance at the time she paid the consideration and received her interest in the land. A subsequent purchaser will be charged with notice that a title search would provide, whether or not she actually searches.

24
Q

Exoneration

A

FL: Liens on specifically devised property are not exonerated unless the will specifically directs that they be exonerated.<br></br><br></br>MS In many states, if a testator makes a specific devise of real estate that is subject to a mortgage or other lien, the devisee is entitled to have the land exonerated by the payment of the lien from the testator’s residuary estate.

25
Q

Transfer by Mortgagee of Mortgage Without Notice

A

FL: Florida law provides that transfers of mortgages without the accompanying note is a nullity.<br></br><br></br>MS Case law is divided, with some states holding that the transfer of a mortgage automatically transfers the note; in others, the transfer of the mortgage without a note is a nullity.

26
Q

Theories of Title

A

FL: Florida is a lien theory jurisdiction.<br></br><br></br>MS Theories of title ‘ Lien Theory; Title Theory; Intermediate Theory. According to the lien theory, the mortgagee is considered the holder of a security interest only and the mortgagor is deemed the owner of the land until foreclosure.

27
Q

Statutory Redemption

A

FL: Florida does not allow a statutory right to redeem after the foreclosure sale has occurred.<br></br><br></br>MS About half the states give the mortgagor (and sometimes junior lienors) a statutory right to redeem for some fixed period after the foreclosure sale has occurred; this period is usually six months or one year.

28
Q

Deficiency Judgments (FL)

A

FL: Florida permits the mortgagee to sue for the deficiency. The amount to be recovered is within the discretion of the court. However, no deficiency suit is allowed against the original mortgagor with a purchase price mortgage when the original mortgagee is the purchaser at a foreclosure sale.

29
Q

Deficiency Judgments (MS)

A

<br></br><br></br>MS If the proceeds of the sale are insufficient to satisfy the mortgage debt, the mortgagee can bring a personal action against the mortgagor/debtor for the deficiency. However, a number of states limit the deficiency that can be recovered to the difference between the debt and the property’s fair market value when the fair market value is higher than the foreclosure price. Other states prohibit deficiency judgment entirely on purchase money mortgages and on deeds of trust that are foreclosed by power of sale.

30
Q

Installment Land Contracts

A

FL: By statute, an installment land sale contract whose purpose is to secure an obligation to pay money is, in essence, a mortgage, and the safeguards for the debtor and the remedies for the creditor are the same as those between a mortgagor and mortgagee.<br></br><br></br>MS Installment contracts usually provide for forfeiture rather than foreclosure as the vendor’s remedy in the event of default. However, because forfeiture is often a harsh remedy, the courts have tended to resist enforcing forfeiture clauses and in doing so have developed theories including equity of redemption, restitution, treat as a mortgage, waiver, or election of remedies.