Real Property Flashcards

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1
Q

How is a joint tenancy created? What survivorship rights exist with a joint tenancy?

A

Must have the 4 Unities (Time, Title, Interest, Posession - TTIP) plus exress language needs to be used.

Joint tenants have a right of survivorship

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2
Q

How is a tenancy in common created? What are the survivorship rights?

A

TIC created when the parties have a right to possess the whole. No survivorship rights.

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3
Q

How is Tenancy By the Entirety created?

A

Similar to joint tenancy but the parties must be married.

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4
Q

How is a joint tenancy destroyed?

A

Can be partitioned, gifted, signing a contract of sale, actual judicial sale by creditor, or granting mortgage (in title theory state)

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5
Q

Types of present estates

A

Fee Simple, Defeasible Fees, Life Estates

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6
Q

Fee Simple - conveyance, restrictions

A

“To A” or “To A and his heirs”; no restrictions on transfer. Freely aienable, devisable and descendible.

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7
Q

What are the three types of defeasible fees?

A

Fee Simple Determinable, Fee Subject to Condition Subsequent, Fee Simple Subject to Executory Interest

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8
Q

Fee Simple Determinable - signal language and rules; characterization of future interest

A

Limited by determinable language such as “so long as”, “while” or “uring. Terminates upon happening of stated event. If grantor retains future interest: possibility of reverter. If future interest is with third party: executory interest.

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9
Q

Fee Simple Subject to Condition Subsequent - signal language, rules, charaterization of future interest

A

Present fee simple limited by specific conditional language “upon condition that” or “provided that” or “but if”. Terminates ONLy if grantor affirmatively demonstrates intent to terminate

Future interest: grantor reserves the right to terminate the estate upon happening of a stated event; grantor must retain right to reenter.

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10
Q

Fee simple subject to executory interest FSSEI

A

Present Fee simple that is limited by specific conditional language. AUTOMATICALLY TERMINATES upon happening of stated event and title passes to third party. Future interest: executory interst held by the third party.

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11
Q

Life estate

A

Interest that exists for the duration of a measuring life.

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12
Q

Rule regarding waste in a life estate

A

LT holder must deliver property to future interest holder in substantially same condition as when LT took possession.

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13
Q

Types of waste

A

Permissive - occurs when LT allows premises to deteriorate through neglect, failure to protect property); LT must make reasonable repairs.

Voluntary waste - condition of property substantially changed due to LT’s affirmative action. NOT PERMITTED if it decreases the property value. If no decrease in property value, it’s ca ameliorative waste and ok unless future interest holders have reasonable objection.

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14
Q

Types of Future Interest

A

Reversion, Possibility of Remainder, right of reentry, remainder, executory interests

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15
Q

Reversion - who holds it? Restrictions?

A

Held by grantor who transfers life estate or estate for yars w/o conveyance remaining FI to third party. Alienable, devisable, descendible

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16
Q

Posibility of Reverter

A

FI retained by grantor when FSD conveyed. Alienable, devisable, descendible

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17
Q

Right of reentry

A

FI retained by grantor after Fee simple subject to condition subsequent granted. Also called right to terminate.

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18
Q

Remainder

A

FI that b ecomes possessory upon expiration of prior estate

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19
Q

Vested remainder

A

Remainder that is not subject to any conditions precedent; ascertainable grantee.

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20
Q

Types of vested remainders

A

Vested remainder subject to open, subject to complete divestment

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21
Q

Contingent remainder

A

Created in unascertainable grantee or subject to express condition precedent to grantee’s taking

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22
Q

Requirements for Adverse Possession

A

Actual Possession, Open and Notorious, Hostile, Continuous, Exclusive (including ouster of cotenant), Statutory period E-CHOPS (Continuous, Hostile, Open, Exclusive Statutory period)

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23
Q

Issue Checklist: Has the property been acquired?

A

Adverse Possession, Land Sales Contracts, Mortgages, Deeds, Wills, Recordin Acts

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24
Q

Issue Checklist: Who has an interest in the land

A

Estates in Land (Freehold estates, future intersts) Joint ownership (concurrent estates) (joint tenancy, tenancy in common, tenancies by the entirety) ; Landlord tenant (types of tenancies, rent disputes, condition of premises, waste, fixtures, assignment/sublease)

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25
Q

Issue Chiecklist: Limits on Land Use

A

Easements, real covenants, equitable servitudes, zoning

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26
Q

Requirements for land sale contract

A

Contract Law Requirement: Statute of Frauds. Writing, parties identified, land identified, signed by ONE to be bound, description of land, statement of consideration. Part Performance: Possession, improvement, payment (2/3)

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27
Q

Does adverse possession create marketable title?

A

No, but title can be perfected by judicial notice to quiet title

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28
Q

Contracts governing conveyance of interest in real estate

A

Contract governs until time of closing, then deed becomes operative document.

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29
Q

Marketable Title

A

Implied promise in every land sale that seller conveys marketable title at time of closing. Marketable title is free of reasonable doubt about seller’s aility to convey.

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30
Q

What is the doctrine of equitable conversion?

A

Once land contract is signed, buyer is deemed owner even in absence of recording.

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31
Q

What happens if property is destroyed after contract is signed, through no fault of the party?

A

Buyer bears risk of loss

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32
Q

Remedies for breach of land sale contract

A

Damages (FMV-K) or Specific Performace (Valid K, K conditions on plaintiff satisfied, inadequate legal remedy, mutuality of performance, feasibility of enforcement, no defenses)

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33
Q

3 types of security interests in land

A

Mortgage, Deed of Trust, Installment Contract

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34
Q

Mortgage

A

Mortgage conveys a security interest in land where parties intend for land to be collateral for repayment of monetary obligation. SOF applies. Buyer has possession and title, mortgagee has lien.

35
Q

Foreclosure

A

Judicial foreclosure required. Purchase money mortgage cannot get deficiency judgment.

36
Q

Deed of Trust v. Mortgage

A

Deed of trust: Debtor is trustor and deed of trust is in possession of a third party. Mortgage: debtor remains in possession

37
Q

Installment Agreement (security interest in land)

A

Seller financed. Seller keeps title. If buyer fails to make a payment, seller gets forfeiture and keeps installment agreements.

38
Q

Deed requirements

A

In writing, identify parties, identify land, signed by grantor, words of intent. Consideration NOT required.

39
Q

Types of deeds

A

quitclaim, warranty, statutory special

40
Q

Quitclaim deed

A

Grantor conveys all interst in property; no covenants of title

41
Q

General Warranty deed

A

warrants against all defects in title and contains six covenants for title. Present: Seisin, Right to convey, against encumbrances); Future: warranty of title, quiet enjoyment, further assurances

42
Q

Damages for breach of covenant

A

Lesser of purchase price or cost to defend title; encumbrances: damages are lesser of difference between amount paid and value of land w/encubrance, or cost of removing the encumbranc.

43
Q

What is the purpose of recording acts

A

Provide buyer with way to ensure he is getting good title

44
Q

Types of recording acts and description

A

Pure race statutes: First to record wins. Pure notice: Subsequent BFP prevails over grantee that didn’t record. Race-notice: Subsequent BFP that records first prevails over grantee that didn’t record first.

45
Q

“No conveyance good against subsequent purchasers FOR VALUE and WITHOUT Notice”

A

Pure notice statute

46
Q

No conveyance good against subsequent purchasers FOR VALUE and WITHOUT NOTICE, who shall FIRST RECORD”

A

Race-notice statute. (must record even if you paid and didn’t have notice)

47
Q

Types of Notice

A

Actual, inquiry, record

48
Q

Estoppel by deed

A

A conveys property he purports to own but doesn’t. Later obtains interest in that realty. Cannot deny validity of conveyance and estate automatically transferred to grantee.

49
Q

Shelter doctrine

A

One who takes from BFP stands in shoes of BFP and can prevail against entity BFP would have prevailed against.

50
Q

Executory Interest and types

A

Executory interest is interest in favor of future grantee and follows fee simple subject to an executory limitaiton. Two types: Springing (becomes possessory - from owner - without cutting short a prior interest) and shifting (from one interest holder to anothercuts short prior interest).

51
Q

Rule: Absolute restraints on alienation

A

Absolute restraints on alientation are void

52
Q

Rule against perpetuities

A

No interest is good unless it vests no later than 21 years after some life in being at creation of interest.

53
Q

Rules: Tenancy for years

A

Tenancy for ANY fixed period of time. SOF for >1 year. Automatic termination

54
Q

Rule: Periodic tenancy

A

automatically continues unless one party gives notice of termination. (Can be created by implication, written notice. Holdover tenant)

55
Q

Rule: Tenancy at will

A

tenancy for no fixed period of time.

56
Q

Rule: Tenancy at sufference

A

created when tenant wrongfully holds over past the expiration of a valid lease.

57
Q

Defenses to paying rent

A

failure to deliver possession, breach of covenant of quiet enjoyment, constructive eviction, destruction of premises,

58
Q

Condition of rental premises

A

common law: tenant takes as is. Modern view: landlord maintians common areas, fix latent defects, make repairs non-negligently.

59
Q

Implied covenant of quiet enjoyment

A

Landlord will not interfere with tenants use and enjoyment (can’t guarantee 3rd party acts) - constructive eviction, actual eviction, partial actual eviction.

60
Q

Implied warranty of habilitability

A

premises must be fit for human habitation. Tenant can terminate and move out, make repairs/deduct cost from rent, pay reduced rent,

61
Q

Retaliatory eviction

A

Tenant cannot be evicted or have lease terminated b/c tenant has asserted premises not habitable

62
Q

fixtures

A

once moveable chattel that have become so attached to premises they are deemed fixtures.

63
Q

Transfer of lease - who is liable?

A

Assignment of entire interest: New tenant personally liable. Transfer of anything less than entire interest: sublease, old tenant liable.

64
Q

Easement

A

Right to use land of another

65
Q

Types of Easement and definition

A

Appurtenant easement: Benefits one parcel of land. Dominant estate is the benefited parce. Servient estate is the burdened parcel. Tied to particular piece of land. Easement in gross: benefit provided to an individual. “Tim can fish in my pond”.

66
Q

Ways to create an easement

A

Express, implication, necessity (requires common ownership, strictly necessary); prescription (adverse possession); estoppel

67
Q

Maintenance and repair of easements

A

owner of the servient estate NOT required dto repair/maintain. Dominant owner has implied right to repair.

68
Q

Transfer of easements

A

Servient (burdened): runs with land EXCEPT if purchaser is BFP with NO NOTICE. Dominant (benefited) estate: appurtenant - runs automatically. Gross easements - common law not transferable, but modern law they are.

69
Q

Termination of easements

A

Estoppel, necessity, destruction, condemnation, prescription (adv possession), abandonment.

70
Q

Real Covenants

A

Written promises between parties about how land is to be used. Burden to “run with the land” - writing, intent, touch and concern, horizontal and vertical privity; notice. BENEFIT to run with the land: writing between original parties, intent, touch and convern, vertical privity only. No horizontal privity.

71
Q

Restrictave Covenants/Equitable Servitudes

A

Restrictions on use of land. NO provity requirements (property used for residential purposes, paint colors)

72
Q

Horizontal and Vertical privity

A

Horizontal privity: original parties must have shared some interest in land apart from covenant itself. Vertical privity: successor now holder of the entire interest that the party making the covenant had.

73
Q

License

A

mere right to use the licensor’s land

74
Q

Water rights - drainage

A

owner can use all surface water he wants. 3 approaches for getting rid of water - common enemy (can cast water onto neighbors land); natural flow theory (strict liabilty for interfering with flow0; reasonable use doctrine.

75
Q

Water rights - riparian rights

A

Reasonable use: each riparian (water abuts property) can use as much as he reasonably needs. CA and some other states use appropriation doctrine - permit to use water.

76
Q

water rights - ground water

A

owner can make reasonable use

77
Q

Lateral and subjacent support rules

A

Right to lateral support is absolute. Landowner strictly liable if excavation causes adjacent land to subside while in natural state. If land has been improved adjoining landowner strictly liable for excavation only if shown that land would have collapsed in natural state. If not, then maybe negligence.

78
Q

Chattel

A

Pam’s essay writing book

79
Q

Real property

A

Pam’s house that the bank owns half of

80
Q

Fake Property

A

All that shit that Pam spends here money on

81
Q

Zoning standards

A

must be reasonable, not arbitrary, and have substantial relation to the public benefits above.

82
Q

Types of zoning ordinances

A

Cumulative - hierarchy - land zoned for particular use can be used for stated purpose or highr use. (e.g., house can be build in industrial zone, but factory couldn’t be built in residential zone)

Noncumulative - Land may only be used for purpose for which it is zoned.

83
Q

Zoning - requirements for waiver

A

unnecessary hardship