Real Property Flashcards
Fee simple absolute
to A and his heirs
to A
Life estate
to A for life
to A for the life of B
Determinable
for so long as
until
while
during
Subject to condition subsequent
but if
upon condition that
provided that
Subject to an executory interest
to A for so long as… and if not… to B
to A, but if… to B
Reversion
grantor transfers a shorter estate than she owns (grantor with a fee simple transfers a life estate)
Possibility of reverter
grantor transfers a determinable estate
becomes possessory automatically upon termination of the prior determinable estate
Right of entry (power of termination)
reserved on the grant of an estate subject to a condition subsequent
executory interests
cut short the prior estate
remainders
possessory only until on the natural termination of the prior estate
remainders are vested if
made in an ascertained person and with no conditions precedent, otherwise are contingent
class gifts
remainders in a class are contingent if no member of the class yet exists, vested if all possible members exist, and vested subject to open if more members might come to exist
rule of convenience
an open class closes when any member can demand possession
rule against perpetuities
any future interest that is not certain to vest or fail within a life in being plus 21 years is void
application of RAP
only the interest that violates RAP is stricken
affirmative easement
right to use someone else’s land
negative easement
right to prevent something on another’s land
easement appurtenant
involves two tracts of land
dominant parcel has the benefit, which runs to grantees
servient parcel has the burden, which runs to grantees with notice
easement in gross
involves one tract of land
creation of easements
can happen by express grant or reservation (SOF applies), by implication, or by prescription
Creation of easement by express grant or reservation
SOF applies
an oral grant creates a license, which is not an interest in land
Creation of easement by implication
a) by use existing before a tract was divided
b) by necessity for a landlocked parcel
Creation of easement by prescription
acquired through adverse, open and notorious, and continuous use for the statutory period
Termination of easements
can end by stated condition, unity of ownership between easement and servient estate, abandonment, estoppel, prescription, necessity, release, or condemnation
profits
right to enter another’s land to remove products of the soil
real covenants
run with the land
written promises to do or refrain from doing something on land, with a usual remedy of money damages
real covenants: requirements for burden to run to later grantees
intent, notice, horizontal privity, vertical privity, touch and concern
real covenants: requirements for benefit to run with the land
intent, vertical privity, touch and concern
equitable servitudes
covenants with equitable remedies (injunction, specific performance)
implied from a common scheme for development if notice exists
equitable defenses apply: unclean hands, estoppel, acquiescence, changed neighborhood conditions
equitable servitudes: requirements for burden to run to later grantees
intent, notice, touch and concern
equitable servitudes: requirements for benefit to run to later grantees
intent, touch and concern
land sale contracts SOF exception
no writing is required if buyer has partially performed through possession, improvement, or payment
land sale contracts time for performance is
presumed to be not of the essence
marketable title
contracts contain an implied covenant that seller will deliver title free from an unreasonable risk of litigation at closing
deeds
deeds must 1) be in writing 2) sufficiently describe the land 3) identify the grantee and grantor 4) evidence an intention to convey the land and 5) be signed by the grantor
the parties may be identified by name or by describing them in some other way (to my eldest daughter)
if the deed is left with the identity of the grantee left blank, some courts presume the person taking delivery can fill in the name of the grantee making the deed valid
are effective on delivery and acceptance
delivery of a deed occurs when
words or conduct show the grantor’s intent to immediately pass title