Real Property Flashcards
Define the doctrine of cy pres
Under the doctrine of cy pres, a court may make changes to a conveyance to come as near as possible to the intent of the transferor. This can be used to avoid RAP or to amend a charitable gift
What is a wild deed
A wild deed is one that is not in the chain of the title of the buyer.
If an express deed does not specify the terms of the easement, how is it determined?
The location can be fixed by the dominant estate, which will control going forward.
Define vested remainder
A future interest not subject to any condition and held by an identifiable living personD
Define contingent remainder
Subject to some condition precedent or held by an unknown or unborn person
What is a vested remainder subject to complete divestment
A remainder that completely divest upon the occurrence of a subsequent condition that will eliminate the remainder interest
What is a defeasible life estate
A life estate that may be terminated upon the death of an individual or the occurrence of a state event
What effect can a future interest have on a title
Future interests can make a title unmarketable if the holder of that interest does not agree to the transfer, making it subject to unreasonable risk of litigation
What is the common law exoneration of liens doctrine
This doctrine applies when a devisee receives a specific devise of real property that is subject to an encumbrance. The devisee is entitled to pay off any encumbrances on that property from the remaining assets
If a state treats an installment land contract as a mortgage, what right does the seller have to the land?
The seller must foreclose to gain title to the property and the buyer has an equitable right of redemption
How can a covenant or easement be terminated
Through abandonment; meaning an affirmative act that shows a clear intent to relinquish the covenant
What are the requirements for a burden to run with the land
(1) writing (2) intent to run (3) touch and concern (4) horizontal and vertical privity (5) notice
What are the requirements for a benefit to run
(1) writing (2) intent to run (3) touch and concern (4) limited vertical privity
What is the difference between an equitable servitude and a real convenant
Equitable servitudes are enforced through injunctions, real convenants are enforced through damages
What are the requirements of an express equitable servitude
(1) writing (2) intent to run (3) touch and concern (4) notice
