Property Essay/MBE

Question 1

Burden to Run

Answer 1

WITHN
Writing
Intent to run
Touch and concern
Horizontal and vertical
Notice

Question 2

Benefit to Run

Answer 2

WITV
Writing
Intent
Touch and Concern
Vertical privity

Question 3

Holdover tenants

Answer 3

IF tenant notified PRIOR to lease expiration that rent is increasing, they will pay the new amount.

Residential tenants holdover at month to month tenancy.

Commercial tenants holdover year to year (typically). Cannot exceed one year, but will be whatever it was in the prior agreement.

Question 4

Builder Seller Implied Warranty

Answer 4

Generally, sale of real property carries no implied warranty of quality or fitness, but when the builder sells, there is.

Warranty the house was designed/constructed in workmanlike manner and suitable for human habitation.