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Property/Corps/Wills/Domestic Relations > Property Tested topics > Flashcards

Property Tested topics Flashcards

1
Q

Joint Tenancy

A

A tenancy where two or more persons own property w the right of survivorship

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2
Q

Under VA law, if a right of survivorship is not expressly reserved in a grant, then tenancy will be construed as a

A

tenancy in common rather than a joint tenancy

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3
Q

Is a joint tenancy alienable/divisible?

A

Alienable but not divisible

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4
Q

Is a Tenancy in Common Alienable?

A

Yes, Each tenant can devise or freely transfer his interest to anyone w/o affecting the interest of any other tenant in common

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5
Q

Joint tenancy must be created with each tenant having__

A

i_ equal right to possess or use property

ii) each tenant having equal interest in property

iii) at same time

iv) and in same instrument

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6
Q

Tenancy by Entirety

A

Tenancy between two married persons.
Neither pparty can alienate or encumber property w/o consent of the other

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7
Q

Tenancy by Entirety Upon Divorce

A

converted to a tenancy in common

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8
Q

To transfer a real property interest, grantor must

A

demonstrate the intent to make a present transfer of the interest (ex, delivery of deed) and grantee must accept the interest

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9
Q

Can title pass w/o recording?

A

In VA, title may pass w/o recording, so a deed need not be recorded to be valid and convey good title

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10
Q

Upon divorce, tenancy by entirety/joint tenancy is converted to

A

tenancy in common w/ no right of survivorship

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11
Q

Remainder

A

future interest created in a grantee that is capable of becoming presently possessory upon the natural expiration of a prior possessory estate that is created in the same conveyence in which the remainder is created

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12
Q

Vested remainder

A

a remainder that is not subject to any conditions precedent and is created in an ascertainable grantee

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13
Q

Are future interests transferrable/devisable/descendible?

A

In VA, all future interests, including vested remainders, are fully transferable inter vivos, devisable by will and descendible by inheritance

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14
Q

Deed of Trust

A

Landowner delivers title to real property to a trustee as security for the payment of an obligation that typically the landowner owes another person (Eg, lender)

Functions as a mortgage in VA

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15
Q

Can a vested remainder be encumbered by a deed of trust?

A

Yes

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16
Q

Defaulting on Deed of Trust

A

On the landowner’s default on his obligation, the other person can instruct the trustee to sell the property and apply the sale proceeds to repay the obligation

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17
Q

Prior to the trustee’s sale, landowner may regain title to the property by

A

repaying the obligation

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18
Q

Landowner may sell the property that is subject to a deed of trust

A
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19
Q

In that case, landowner may use proceeds from that sale to repay the obligation and thereby regain title to the property which landowner then transfers to the buyer of the property

A
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20
Q

Fee Simple Determinable

A

A present fee simple estate limited by specific durational language, such that it terminates automatically upon the happening of a stated event and full ownership of the property is returned to the grantor

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21
Q

Grantor’s retained future interest is called a

A

possibility of reverter…which arises automatically even if the grantor does not specifically reserve it

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22
Q

Recording Statutes/Recording Easements in VA

A

Facially, Va’s recording statute reads as a notice statute

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23
Q

However, in VA, the SC has found no error in trial ct’s conclusion that VA’s recording act makes VA a ___ jx

A

race notice jx

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24
Q

Notice Statute

A

Subsequent bona fide purchaser who takes w/o notice will prevail over a prior property interest holder

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25
Q

Under a race notice statute, subsequent purchaser must take

A

w/o notice and record their interest first

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26
Q

Doctrine of Merger

A

Under doctrine of merger, provisions in a K for sale are extinguished and merged into the deed

27
Q

Merger: if a buyer has a claim against a seller, then the basis of the claim must be based on

A

the covenants in the deed, if any, and not on the K itself

28
Q

Merger: Exception

A

provisions which are collateral to the passage of title and not covered by the deed are not merged into the deed and survive its execution

29
Q

Collateral agreements

A

distinct agreements made in connection w the sale of the property that do not affect the title to the property, if they are not addressed in the deed and if they do not conflict w the deed

30
Q

Fraud/Intentional Misrepresentation

A

1) false representation of material fact
2) w intent to mislead
3) relied upon by P

31
Q

Curing Misrepresentation

A

can be cured and K is no longer voidable by adversely affected party if circumstances change in such a way that misrep becomes true before adversely affected party avoids the K

32
Q

Who can partition property?

A

Tenant in common or joint tenant has right to unilaterally partition property but a tenant by entirety does not have this right

33
Q

Partition in Kind Proceeding

A

Ct divides jointly owned property into distinct physical portions…

If physical division is not practicable or fair, ct may order a partition by sale an distribute proceeds

34
Q

Co-tenant right to reimbursement for improvements made to property

A

generally, co-tenant does not have right to reimbursement for improvements made to property….

However, upon partition of the property, a ct may allocate proceeds from the sale of the property to compensate the co-tenant for value of improvements

35
Q

Bailment defintion

A

Bailor’s delivery of her personal property to another person (bailee) to possess for a period of time….NO TRANSFER OF TITLE

36
Q

Bailment elements

A

Bailee must

1) INTENT+POSSESSION—physically possess property w intent to exercise control over it

2) CONSENT—consent to bailment

3) Be AWARE aarticle exists

37
Q

Bailee standard of Care

A

varies based on reason for bailment

38
Q

Standard of Care When bailment is solely for benefit of bailor

A

duty of slight diligence…bailee liable for gross negligence

39
Q

Equal Benefit

A

ordinary care

40
Q

Bailee benefit

A

upmost care… liable for slight negligence

41
Q

Detinue

A

An action to recover actual property

Person wrongfully deprived of personal property may file action for detinue, trespass, trover

42
Q

Bailment Theories of recovery

A

1) negligence

2) Breach of K

3) conversion
(unathorized act over property of another of such nature as is inconsistent w right of owner…usining property in manner inconsistent w bailment)

4) Strict Liability

strictly liable if bailee uses property for a different purpose other than agreed to

5) Damages

43
Q

Holder in Ordinary Course

A

Generally, a seller can only convey property he has title over

However, under UCC as adopted by VA, entrusting goods to a merchant who deals in goods of the kind has power to transfer all rights of the entruster to a buyer in the ordinary course of business

44
Q

Buyer in ordinary course of business

A

person who buys in good faith and w/o knowledge that the sale to him is in violation of the ownership rights of a 3rd party in the goods

45
Q

Limiting Liability on Bailment

A

A bailee may limit its liability as long as bailor knows or should know of limitation and EXPRESSLY CONSENTS TO IT

46
Q

Is a Limitation placed on a claim check valid?

A

claim check is not a K btwn parties. Therefore, any limitation placed on a claim check is not valid unless it can be proven that bailor knew or should have known of limitation

47
Q

Constructive/Quasi Bailment

A

Differs from true bailment in that the chattel has not been delivered by or w permission of its owner to the bailee

Liable only for gross negligence

47
Q

Marketable Title

A

title free from defects … ie free from an unreasonable risk of llitigation

48
Q

Defects in title rendering it unmarketable include

A

i) title acquired by adverse possession not yet been quieted

2) future interests wherein holders of such interests have not agreed to the transfer

3) private encumberance (mortgage, easement, covenant, option)

4) violation of zoning ordinance

5) significant physical defect

48
Q

Title obtained by fraud is

A

voidable, not void, and cannot be challenged if property is in hands of bona fide purchaser

49
Q

Subsequent mortgagee/purchaser who takes without notice

A

has priority over earlier transferee

50
Q

6 English Covenants of title

A

1) covenant seisin

2) covenant right to convey

3) Covenant of free from all encumberances

4) covenant no act to encumber

5) covenant for further assurances

6) Covenant of Quiet Possession

51
Q

Covenant of Seisin

A

grantor has right to property described in deed

52
Q

covenant right to convey

A

grantor has right to transfer title

53
Q

Covenant of Free From all encumberances

A

deed contains no undisclosed encumberances

54
Q

covenant no act to encumber

A

grantor has taken no act that results in encumberance of the property

55
Q

Covenant for Further assurances

A

grantor will do whatever necessary to perfect title should it turn out to be defective

56
Q

Covenant of Quiet possession

A

grantee’s possession will not be interfered w by a 3rd party’s lawful claim for title

57
Q

Easement

A

right held by one person (dominant estate) to make specific, limited use of land owned by another (servient estate)

58
Q

Easement by necessity

A

property must be virtually useless w/o benefit of easement for an easement by necessity to be created…

Usually arise when property is divided and portion becomes landlocked and cannot be accessed w/o use of an easmeent

59
Q

Easment by Prescription

A

In VA, easements by prescription can be obtained by continnuous, actual, open and hostile use for a period of 20n yrs

The use need not be exclusive and scope of an easement by prescription is limited to the nature and extent of the adverse use

60
Q

What happens when servient estate transfers interest and easement is on interest

A

New owner is bound by easement unless they took property for value in good faith w/o knowledge of easement

61
Q

Damages for Breach of Land K

A

Non breaching party is entitle to any amount representing difference between the purchase price agreed to and market value of property

62
Q
A

Property/Corps/Wills/Domestic Relations (8 decks)

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