Brainscape's Knowledge GenomeTM


Top Flashcards (Certified)
All Flashcards

02_LeanSheets > Real Property > Flashcards

Real Property Flashcards

1
Q

What is a Fee Simple Absolute?

A

Devisable, descendible, and alienable

Represents the most complete form of ownership in real property.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What happens to a Fee Tail upon abolition?

A

Turns into a fee simple absolute

Fee Tail is a type of estate that limits inheritance to direct descendants.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What are the requirements for a Life Estate?

A

Life tenant limited by doctrine of waste

Future interest can be a reversion in grantor or remainder in 3rd party.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What is a Fee Simple Determinable?

A

Clear conditional language; automatic forfeiture upon violation

Characteristics: devisable, descendible, and alienable but subject to durational condition.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What is a Fee Simple Subject to Condition Subsequent?

A

Clear language granting right to re-enter; interest may terminate at grantor’s option

Characteristics: devisable, descendible, and alienable, subject to condition.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What is a Fee Simple Subject to Executory Limitation?

A

Devisable, descendible, alienable, subject to condition

Future interest is a shifting executory interest to a 3rd party.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What is the Possibility of Reverter?

A

Future interest held by grantor in a Fee Simple Determinable

It allows the grantor to reclaim the property if the condition is violated.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What is a Shifting Executory Interest?

A

Follows a defeasible fee of some sort

It transfers future interest to a 3rd party upon the occurrence of a specified event.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Define Contingent Remainder.

A

Unascertained person or subject to condition precedent

If the condition is satisfied, it becomes an indefeasibly vested remainder.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What is a Vested Remainder?

A

Ascertainable person and not subject to condition precedent

It guarantees that the holder will receive the interest in the future.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What is an Indefeasibly Vested Remainder?

A

3rd person certain to acquire future interest without condition

It provides the most security for the future interest holder.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What does the Rule Against Perpetuities (RAP) state?

A

Voids future interest if it may vest >21 years after death of measuring life

It aims to prevent interests from being tied up indefinitely.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What is the Wait and See/Second Look reform?

A

Determines RAP at the end of the measuring life

It offers a more flexible approach compared to the traditional RAP.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What is a Class Gift?

A

If vested remainder subject to open, future interest of class members subject to partial divestment

The class closes when a member can demand possession.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Define Waste in the context of a Life Estate.

A

Life tenant must not harm future interest holders

Holders of vested remainder may sue for waste.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What is Voluntary or Affirmative Waste?

A

Overt conduct causing a decrease in value or exploitation of natural resources

Exceptions include prior use, reasonable repairs, and grants.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

What is Permissive Waste?

A

Neglect by the life tenant

Life tenant must pay ordinary taxes and protect land from disrepair.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

What is Ameliorative Waste?

A

Acts that may enhance property’s value not allowed without consent

Future interest holders must be informed and agree.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

What are the requirements for Joint Tenancy?

A

TTIP: Time; Title; Interest (equal); Possession of the whole

Grantor must express survivorship rights clearly.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

What is Tenancy by the Entirety?

A

Marital interest between husband and wife with right of survivorship

Creation requires both spouses to take as one.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Define Tenancy in Common.

A

Each co-tenant owns individual part with right to possess the whole

No survivorship rights; interests are descendible, devisable, and alienable.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

What rights do co-tenants have regarding possession?

A

Each has right to possess the whole; no ouster

Rent from 3rd parties must account to co-tenants for fair share of income.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

What is a Tenancy for Years?

A

Lease of fixed, determined period; no notice required for termination

If >1 year, lease must be in writing due to the Statute of Frauds.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

What is a Periodic Tenancy?

A

Successive or continuous intervals, e.g., month to month

Termination requires notice at least the length of the period itself.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
What is an implied tenancy?
A tenancy inferred from circumstances, such as no specified duration but payment required at specific intervals ## Footnote Examples include oral agreements with payment schedules or holdover tenants.
26
Define Tenancy at Will.
No fixed period of duration; can be terminated at any time.
27
What is Tenancy at Sufferance?
Tenant wrongfully holds over after the expiration of a lease.
28
What are the tenant's duties regarding third parties?
Keep premises in good repair; liable for injuries to invitees.
29
What is the tenant's duty to repair?
Maintain premises and make ordinary repairs; no waste.
30
What happens to fixtures upon ownership transfer?
Fixtures pass with ownership unless there's a private agreement or tenant can remove without causing substantial harm.
31
Under common law, what is the tenant's liability for loss?
Tenant is liable for any loss, including acts of nature.
32
What can a tenant do if there is a loss without fault?
Tenant may terminate the lease.
33
What is the common law duty of a tenant to pay rent?
Duty is independent of landlord's obligations.
34
What is the modified duty of a tenant to pay rent?
Duty is dependent on landlord's covenants under the lease.
35
What occurs during a breach when the tenant is on the property?
Commercial tenants may be held for a new year-to-year lease; residential tenants held to new month-to-month lease.
36
What are the potential outcomes when a tenant is out of possession?
Surrender, Ignore, Re-Let.
37
What is the landlord's duty to deliver possession?
Majority rule requires physical possession; minority rule requires legal possession.
38
What constitutes a breach of the implied covenant of quiet enjoyment?
Total eviction or constructive eviction.
39
What is total eviction?
Landlord excludes tenant from the entire premises.
40
What is partial eviction?
Third party retakes and physically excludes tenant from a portion of leased premises.
41
Define constructive eviction.
Substantial interference, notice to landlord, and tenant must vacate within a reasonable time.
42
What is the landlord's responsibility regarding other tenants?
Landlord must control common areas and cannot permit nuisances.
43
What does CLAPS stand for in landlord tort liability?
* Common Areas * Latent Defect * Assumption of Repairs * Public Use Rule * Short term lease of furnished apartment.
44
What is the implied warranty of habitability?
Requirement for residential premises to be fit for basic human habitation.
45
What are the tenant's options upon breach of the implied warranty of habitability?
* Move out * Repair & deduct * Reduce rent * Remain and sue.
46
What power does a tenant have regarding assignment and subleasing?
Tenant can only assign or sublease the interest they have.
47
What is an assignment in tenancy?
Transfer of the entire interest in the lease.
48
What is a sublease?
Transfer of only a portion of the interest.
49
What is the landlord's rule regarding security deposits?
Landlord cannot keep tenant's security deposit beyond actual damages.
50
What is an easement?
Non-possessory property interest.
51
What is an affirmative easement?
Right to do something on servient land.
52
What is a negative easement?
Right to compel servient owner to refrain from certain actions.
53
What does LASSS stand for in relation to easements?
* Light * Air * Support * Stream * Scenic view.
54
What is an easement appurtenant?
Physical use/enjoyment of property involving two parcels of land.
55
What is an easement in gross?
Easement for personal or commercial advantage.
56
What are the methods of easement creation?
* Prescription * Implication * Necessity * Grant.
57
What does END CRAMP stand for in easement termination?
* Estoppel * Necessity * Destruction * Condemnation * Release * Abandonment * Merger * Prescription.
58
What is a license in property law?
Privilege to enter land for a specific purpose.
59
What is a profit in property law?
Permission to enter land to take natural resources.
60
What is a covenant?
Contractual promise to do or not do something related to land.
61
What does the acronym WITHVN stand for in relation to burden runs?
Writing, Intent, Touch/Concern, Horizontal and Vertical Privity, Notice ## Footnote Horizontal Privity refers to the succession of estate between original parties, while Vertical Privity refers to a non-hostile nexus.
62
What are the components of benefit runs as indicated by the acronym WITV?
Writing, Intent, Touch/Concern, Vertical Privity
63
What acronym represents the requirements for creating an Equitable Servitude?
WITNES: Writing, Intent, Touch/Concern, Notice ## Footnote Privity is not required to bind successors in an Equitable Servitude.
64
What are the requirements for an Implied Equitable Servitude?
1) General scheme by subdivider when sale began; 2) Notice (actual, inquiry, or record)
65
What does COAH stand for in relation to Adverse Possession?
Continuous, Open/Notorious, Actual and exclusive, Hostile
66
In Adverse Possession, what is the relevance of the possessor's state of mind?
Irrelevant
67
What is required for Tacking in Adverse Possession?
Privity between adverse possessors
68
What are the general characteristics of Condominiums?
Individually owned units with community-wide restrictions governed by a vote of other owners
69
What is the document that generally creates a condominium?
Condominium declaration
70
What does the acronym LEAD represent in relation to deeds?
Lawfully Executed And Delivered
71
What are the three requirements for lawful execution of a deed?
1) Writing; 2) Signed by grantor; 3) Comports with statutory requirements
72
What is the definition of a Quitclaim Deed?
Worst type of deed; no covenants; gives whatever grantor has
73
What are the six covenants contained in a General Warranty Deed?
1) Seisin; 2) Right to Convey; 3) Against Encumbrances; 4) Warranty; 5) Quiet Enjoyment; 6) Further Assurances
74
What does a Statutory Special Warranty Deed promise?
Promises made only on behalf of the grantor regarding conveyance and encumbrances
75
What types of documents are required at the closing of a real estate sale?
Deed, closing statement, seller affidavit, transfer tax declarations, loan documents, title insurance commitment
76
What is the purpose of an Owner/Seller Affidavit?
Sworn statement that seller is unaware of any land restrictions
77
What is the main feature of Cooperatives?
Owned by and operated for the residents living there; part ownership of the whole
78
What does the Statute of Frauds require for a Land Contract?
Writing unless 2 of 3 conditions are met: possession, payment, substantial improvements
79
Who bears the risk of loss in a land contract?
Buyer bears risk once contract is signed
80
What are the implied promises in a land contract?
1) Marketable title; 2) No false statements of material fact; 3) No implied promise of fitness or habitability
81
When is time considered not of the essence in a contract?
Unless stated in the contract
82
What should be reviewed for accuracy and completeness during a real estate transaction?
Documents including title insurance commitment
83
What is the purpose of a Correction Statement and Agreement Form?
Agreement to execute corrected documents for certain errors
84
Who can authorize the execution of real estate documents?
Principals (sellers and buyers) or authorized agents
85
What does BFP stand for in the context of the recording system?
Purchaser for value and without notice
86
What is the Shelter Rule?
One who takes from BFP is protected just like BFP
87
What is a Wild Deed?
Out of order deed; doesn’t give record notice
88
In a Notice Statute, who wins if the second buyer is a BFP and the first buyer did not record?
Second buyer wins
89
What is required in a Race Notice system?
Must be BFP and win race to record without notice of any previous conveyances
90
What is a legal mortgage?
Legal title of property transferred to lender as security for a debt or obligation. Must be in writing.
91
What characterizes an equitable mortgage?
Deed absolute on face given as collateral. Parol evid OK to show no intent to transfer prop, just offer as collateral.
92
What happens if a creditor sells property to a BFP under an equitable mortgage?
BFP owns prop, and original owner must sue creditor for fraud and sale proceeds.
93
List the five requirements for the transfer of a mortgage note.
* Note must be negotiable and made payable to named mortgagee * Note must be endorsed and signed by mortgagee * Note must be delivered * Transferee (T) must take note in good faith w/o notice of illegality * T must pay value for note.
94
What defenses does a transferee take free from?
Personal defenses (waiver, estoppel, fraud in the inducement, lack of consideration, etc).
95
What are the real defenses that a transferee is subject to?
MAD FIFI4 – Material alteration, Duress, Fraud in factum, Incapacity, Illegality, Infancy, Insolvency.
96
What is the difference between 'assumption of mortgage' and 'subject to mortgage'?
'Assumption of mortgage' means buyer and debtor are personally liable; 'subject to mortgage' means buyer has no personal liability.
97
What must be joined in a foreclosure action?
All jr lien holders must be joined or mortgage will remain on land. D must be joined if seeking deficiency judgment.
98
What happens if the sale amount is less than the debt in foreclosure?
Mortgagee brings deficiency action.
99
What does a purchaser at a foreclosure sale take subject to?
Senior interest, which can still foreclose on if not paid.
100
What is the rule for priority in mortgages?
First to record, first in right. Purchase money mortgagee has 'super-priority.'
101
What is equity redemption?
Up to date of sale, debtor may pay missed payments + interest + cost.
102
What is statutory redemption?
½ states allow redemption within a fixed period (e.g. 6 months). Mortgagor has right to possess during that time.
103
What is an acceleration clause?
Requires borrower to pay off loan immediately if certain conditions met (e.g. missed multiple payments).
104
What happens when an acceleration clause is invoked?
Borrower must pay principal balance & interest accumulated before clause invoked.
105
True or False: Lender's right to invoke an acceleration clause is automatic.
False.
106
What is a variance in zoning?
Creates flexibility. Requirements include undue hardship and variance won’t decrease neighboring property value.
107
What is a non-conforming use in zoning?
Once lawful but no longer due to new zoning ordinance. Can’t be eliminated all at once unless just compensation paid.
108
What are unconstitutional exactions?
Public benefits government seeks in exchange for granting permission to build; must bear an essential nexus and rough proportionality.
109
What does RLUIPA prohibit?
No zoning restrictions that impose substantial burden on religious exercise unless compelling government interest.
110
What is cumulative zoning?
Zones ranked in hierarchy; uses allowed in higher zones are also allowed in lower zones.
111
What is non-cumulative (exclusive) zoning?
Allowed uses are exclusive to individual district.
112
What is a grandfather clause in zoning?
Exempts businesses/class of persons from new zoning rules/regulations.
113
What is lateral support in property law?
Strict liability if excavation causes adjacent land in natural state to cave or if land with building can show that land would have collapsed.
114
What is the riparian doctrine?
Water belongs to landowners (riparians) bordering water; liable only for unreasonable interference with use by others.
115
What is the prior appropriation doctrine?
Water initially belongs to the state; right to divert and make beneficial use can be acquired by individuals.
116
What is the common enemy rule regarding surface water?
Landowner can change drainage but can’t unnecessarily harm land of another.
117
What governs the disposition of property?
Laws of the place where property is located.
118
How is the validity of a contract determined if no choice of law is specified?
Determined by local law of state where property is located, unless another state has more significant relationship.
119
What typically governs an executory contract for the sale of land?
Law of jurisdiction where property is located.

02_LeanSheets (12 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions